PPG Industries (NYSE:PPG) Stock Price Target Lowered at Citigroup

PPG Industries (NYSE:PPG) had its target price lowered by equities research analysts at Citigroup from $121.00 to $118.00 in a report issued on Wednesday. The brokerage currently has a “neutral” rating on the specialty chemicals company’s stock. Citigroup’s target price suggests a potential upside of 11.35% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $136.00 target price on shares of PPG Industries in a research report on Thursday, September 24th. Wall Street Zen lowered PPG Industries from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Weiss Ratings restated a “hold (c)” rating on shares of PPG Industries in a research report on Monday, September 14th. Mizuho upped their target price on PPG Industries from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Finally, UBS Group decreased their price target on shares of PPG Industries from $130.00 to $125.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Eight analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $126.62.

PPG Industries Stock Down 1.0%

Shares of NYSE:PPG opened at $105.98 on Wednesday. The firm has a 50 day simple moving average of $111.70 and a 200 day simple moving average of $111.45. PPG Industries has a 52 week low of $93.39 and a 52 week high of $133.43. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.15 and a current ratio of 1.58. The company has a market cap of $23.56 billion, a PE ratio of 15.18, a price-to-earnings-growth ratio of 1.73 and a beta of 1.07.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.02). PPG Industries had a return on equity of 21.07% and a net margin of 9.57%.The firm had revenue of $4.50 billion for the quarter, compared to analysts’ expectations of $4.37 billion. During the same quarter in the previous year, the firm posted $2.22 earnings per share. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, research analysts expect that PPG Industries will post 7.89 earnings per share for the current year.

Institutional Investors Weigh In On PPG Industries

Several institutional investors and hedge funds have recently modified their holdings of the business. QRG Capital Management Inc. lifted its holdings in PPG Industries by 9.2% in the 2nd quarter. QRG Capital Management Inc. now owns 20,147 shares of the specialty chemicals company’s stock worth $2,444,000 after purchasing an additional 1,695 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in PPG Industries by 6.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,012 shares of the specialty chemicals company’s stock valued at $244,000 after purchasing an additional 114 shares during the period. Envestnet Asset Management Inc. grew its holdings in PPG Industries by 2.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 251,590 shares of the specialty chemicals company’s stock valued at $30,515,000 after buying an additional 6,928 shares during the last quarter. State Street Corp grew its stake in shares of PPG Industries by 8.8% in the second quarter. State Street Corp now owns 13,871,116 shares of the specialty chemicals company’s stock worth $1,682,428,000 after acquiring an additional 1,124,109 shares during the last quarter. Finally, Archford Capital Strategies LLC acquired a new stake in PPG Industries in the 2nd quarter worth $208,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

About PPG Industries

PPG Industries, Inc is a global manufacturer of paints, coatings and specialty materials. Founded in 1883 as Pittsburgh Plate Glass, the company originally produced plate glass and later expanded into coatings and related technologies. Today, PPG’s products are used to protect, decorate and improve the performance of vehicles, aircraft, buildings, industrial equipment and consumer goods.

PPG serves the automotive, aerospace, construction, industrial, marine, packaging and consumer-product markets.