PPG Industries (NYSE:PPG) Lifted to Buy at Seaport Res Ptn

PPG Industries (NYSE:PPG) was upgraded by equities research analysts at Seaport Res Ptn from a “neutral” rating to a “buy” rating in a research note issued on Monday, Zacks.com reports. Seaport Res Ptn also issued estimates for PPG Industries’ Q2 2024 earnings at $2.49 EPS, FY2024 earnings at $8.43 EPS, Q2 2025 earnings at $2.78 EPS and Q3 2025 earnings at $2.56 EPS.

Several other equities research analysts also recently weighed in on the stock. UBS Group lowered their target price on shares of PPG Industries from $156.00 to $150.00 and set a “neutral” rating for the company in a research note on Friday. StockNews.com downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft decreased their price target on shares of PPG Industries from $160.00 to $155.00 and set a “buy” rating for the company in a report on Monday. Royal Bank of Canada decreased their price target on shares of PPG Industries from $156.00 to $141.00 and set a “sector perform” rating for the company in a report on Monday. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $150.00 price target on shares of PPG Industries in a report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, PPG Industries has a consensus rating of “Hold” and an average price target of $155.50.

PPG Industries Price Performance

Shares of PPG opened at $131.13 on Monday. The company has a market cap of $30.86 billion, a price-to-earnings ratio of 22.15, a price-to-earnings-growth ratio of 1.56 and a beta of 1.28. PPG Industries has a twelve month low of $120.32 and a twelve month high of $152.89. The company has a quick ratio of 1.05, a current ratio of 1.47 and a debt-to-equity ratio of 0.72. The company has a 50 day moving average of $140.16 and a two-hundred day moving average of $138.99.

PPG Industries (NYSE:PPG) last announced its earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share for the quarter, meeting the consensus estimate of $1.86. The company had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.43 billion. PPG Industries had a net margin of 7.74% and a return on equity of 23.13%. PPG Industries’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the firm earned $1.82 earnings per share. As a group, analysts predict that PPG Industries will post 8.46 earnings per share for the current fiscal year.

PPG Industries declared that its board has authorized a share repurchase plan on Thursday, April 18th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the specialty chemicals company to buy up to 8.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at PPG Industries

In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of PPG Industries stock in a transaction on Friday, March 1st. The shares were sold at an average price of $140.94, for a total value of $479,196.00. Following the completion of the transaction, the chief financial officer now owns 28,439 shares of the company’s stock, valued at $4,008,192.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.56% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PPG. OFI Invest Asset Management acquired a new stake in shares of PPG Industries in the third quarter valued at about $25,000. Valued Wealth Advisors LLC acquired a new stake in shares of PPG Industries in the fourth quarter valued at about $26,000. SJS Investment Consulting Inc. grew its position in shares of PPG Industries by 588.5% in the fourth quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock valued at $27,000 after purchasing an additional 153 shares during the period. Private Wealth Management Group LLC acquired a new stake in shares of PPG Industries in the fourth quarter valued at about $27,000. Finally, CVA Family Office LLC acquired a new stake in shares of PPG Industries in the fourth quarter valued at about $28,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.