PPG Industries (NYSE:PPG) Downgraded by JPMorgan Chase & Co.

PPG Industries (NYSE:PPG) was downgraded by equities researchers at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued on Friday, Price Targets.com reports. They presently have a $165.00 price objective on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 2.03% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Societe Generale boosted their price target on PPG Industries from $168.00 to $192.00 and gave the stock a “buy” rating in a research report on Thursday, July 1st. BMO Capital Markets dropped their price target on PPG Industries from $197.00 to $189.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 21st. Susquehanna raised PPG Industries from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $115.00 to $190.00 in a research report on Monday, July 26th. Royal Bank of Canada dropped their price target on PPG Industries from $183.00 to $170.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on PPG Industries from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, September 8th. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $177.33.

PPG Industries stock opened at $161.72 on Friday. The stock’s 50 day simple moving average is $155.06 and its two-hundred day simple moving average is $164.84. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.95 and a current ratio of 1.36. The stock has a market cap of $38.39 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 1.00 and a beta of 1.13. PPG Industries has a fifty-two week low of $123.52 and a fifty-two week high of $182.97.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Tuesday, October 19th. The specialty chemicals company reported $1.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.10. The business had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $4.25 billion. PPG Industries had a return on equity of 29.65% and a net margin of 9.71%. The business’s revenue was up 18.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.93 EPS. On average, analysts predict that PPG Industries will post 7.19 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Tompkins Financial Corp purchased a new stake in PPG Industries during the 3rd quarter valued at $39,000. YorkBridge Wealth Partners LLC raised its stake in PPG Industries by 19.3% during the 3rd quarter. YorkBridge Wealth Partners LLC now owns 9,535 shares of the specialty chemicals company’s stock valued at $1,364,000 after buying an additional 1,545 shares during the last quarter. Gateway Investment Advisers LLC raised its stake in PPG Industries by 10.9% during the 3rd quarter. Gateway Investment Advisers LLC now owns 3,471 shares of the specialty chemicals company’s stock valued at $496,000 after buying an additional 342 shares during the last quarter. Jag Capital Management LLC raised its stake in PPG Industries by 5.2% during the 3rd quarter. Jag Capital Management LLC now owns 7,527 shares of the specialty chemicals company’s stock valued at $1,076,000 after buying an additional 370 shares during the last quarter. Finally, Avantax Advisory Services Inc. raised its stake in PPG Industries by 6.0% during the 3rd quarter. Avantax Advisory Services Inc. now owns 8,446 shares of the specialty chemicals company’s stock valued at $1,208,000 after buying an additional 475 shares during the last quarter. Institutional investors and hedge funds own 78.88% of the company’s stock.

About PPG Industries

PPG Industries, Inc engages in the manufacture and distribution of coatings, specialty materials, and glass products. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment comprises of the refinish, aerospace, protective and marine, and architectural coatings businesses.

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Analyst Recommendations for PPG Industries (NYSE:PPG)

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