PPG Industries, Inc. (NYSE:PPG)‘s stock had its “buy” rating reissued by equities researchers at Jefferies Group LLC in a research report issued to clients and investors on Friday. They currently have a $120.00 target price on the specialty chemicals company’s stock. Jefferies Group LLC’s price target would suggest a potential upside of 12.89% from the stock’s previous close.
PPG has been the topic of several other research reports. Bank of America Corporation lowered shares of PPG Industries from a “buy” rating to a “neutral” rating and set a $115.00 price objective on the stock. in a research report on Monday, July 24th. Zacks Investment Research raised shares of PPG Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Robert W. Baird reaffirmed a “buy” rating and issued a $115.00 price objective on shares of PPG Industries in a research report on Friday, September 1st. Deutsche Bank AG lifted their price objective on shares of PPG Industries from $110.00 to $115.00 and gave the stock a “hold” rating in a research report on Friday, July 21st. Finally, BidaskClub raised shares of PPG Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $115.19.
PPG Industries (PPG) traded down 0.17% on Friday, reaching $106.30. 1,856,416 shares of the company’s stock traded hands. PPG Industries has a 52-week low of $89.64 and a 52-week high of $113.67. The company’s 50 day moving average is $104.13 and its 200-day moving average is $106.63. The stock has a market cap of $27.26 billion, a price-to-earnings ratio of 27.97 and a beta of 1.55.
PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, July 20th. The specialty chemicals company reported $1.83 EPS for the quarter, hitting the consensus estimate of $1.83. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.92 billion. PPG Industries had a net margin of 6.79% and a return on equity of 29.47%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.73 earnings per share. Equities analysts expect that PPG Industries will post $6.10 EPS for the current year.
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In other PPG Industries news, insider Viktoras R. Sekmakas sold 18,616 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $102.49, for a total value of $1,907,953.84. Following the completion of the transaction, the insider now owns 15,545 shares of the company’s stock, valued at approximately $1,593,207.05. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Glenn E. Bost II sold 19,812 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $100.80, for a total transaction of $1,997,049.60. Following the completion of the transaction, the vice president now directly owns 52,748 shares of the company’s stock, valued at approximately $5,316,998.40. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in PPG. Waldron LP purchased a new stake in shares of PPG Industries in the 1st quarter valued at $292,000. Checchi Capital Advisers LLC purchased a new stake in shares of PPG Industries in the 1st quarter valued at $201,000. US Bancorp DE boosted its stake in shares of PPG Industries by 15.0% in the 1st quarter. US Bancorp DE now owns 526,765 shares of the specialty chemicals company’s stock valued at $55,352,000 after purchasing an additional 68,800 shares in the last quarter. Suntrust Banks Inc. boosted its stake in shares of PPG Industries by 2.5% in the 1st quarter. Suntrust Banks Inc. now owns 40,246 shares of the specialty chemicals company’s stock valued at $4,227,000 after purchasing an additional 998 shares in the last quarter. Finally, Novare Capital Management LLC boosted its stake in shares of PPG Industries by 2.7% in the 1st quarter. Novare Capital Management LLC now owns 46,425 shares of the specialty chemicals company’s stock valued at $4,878,000 after purchasing an additional 1,230 shares in the last quarter. 74.17% of the stock is owned by institutional investors.
About PPG Industries
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has three segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.
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