PPG Industries (NYSE:PPG) Price Target Raised to $119.00 at Royal Bank Of Canada

PPG Industries (NYSE:PPG) had its target price upped by stock analysts at Royal Bank Of Canada from $114.00 to $119.00 in a note issued to investors on Thursday,MarketScreener reports. The firm presently has a “sector perform” rating on the specialty chemicals company’s stock. Royal Bank Of Canada’s price target points to a potential upside of 5.62% from the stock’s current price.

PPG has been the subject of a number of other research reports. Sanford C. Bernstein raised their price target on shares of PPG Industries from $123.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of PPG Industries in a report on Wednesday, January 28th. Deutsche Bank Aktiengesellschaft upped their target price on PPG Industries from $120.00 to $130.00 in a research report on Friday, March 27th. The Goldman Sachs Group lifted their price target on PPG Industries from $118.00 to $132.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Finally, JPMorgan Chase & Co. boosted their price target on PPG Industries from $117.00 to $126.00 and gave the company an “overweight” rating in a research note on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, PPG Industries currently has a consensus rating of “Hold” and a consensus price target of $120.50.

PPG Industries Stock Performance

Shares of PPG stock opened at $112.66 on Thursday. PPG Industries has a 12-month low of $93.39 and a 12-month high of $133.43. The business’s fifty day simple moving average is $113.40 and its 200-day simple moving average is $106.84. The company has a current ratio of 1.62, a quick ratio of 1.22 and a debt-to-equity ratio of 0.82. The company has a market cap of $25.21 billion, a PE ratio of 16.32, a PEG ratio of 1.67 and a beta of 1.16.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Tuesday, January 27th. The specialty chemicals company reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.06). The business had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.77 billion. PPG Industries had a net margin of 9.93% and a return on equity of 22.30%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.61 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Analysts expect that PPG Industries will post 7.95 earnings per share for the current fiscal year.

Insider Transactions at PPG Industries

In other news, VP Chancey E. Hagerty sold 2,250 shares of the firm’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $115.59, for a total value of $260,077.50. Following the transaction, the vice president owned 8,477 shares in the company, valued at $979,856.43. This trade represents a 20.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Anne M. Foulkes sold 3,594 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $124.61, for a total value of $447,848.34. Following the sale, the vice president owned 15,641 shares of the company’s stock, valued at $1,949,025.01. The trade was a 18.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 113,611 shares of company stock valued at $14,647,371 in the last three months. 0.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PPG Industries

A number of large investors have recently modified their holdings of PPG. Wellington Management Group LLP lifted its stake in shares of PPG Industries by 19.9% in the third quarter. Wellington Management Group LLP now owns 15,159,770 shares of the specialty chemicals company’s stock worth $1,593,443,000 after buying an additional 2,521,004 shares in the last quarter. State Street Corp raised its holdings in PPG Industries by 4.6% in the 4th quarter. State Street Corp now owns 12,829,677 shares of the specialty chemicals company’s stock valued at $1,314,529,000 after acquiring an additional 565,523 shares during the last quarter. Pzena Investment Management LLC lifted its stake in PPG Industries by 306.2% in the 4th quarter. Pzena Investment Management LLC now owns 7,098,767 shares of the specialty chemicals company’s stock worth $727,340,000 after purchasing an additional 5,351,103 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of PPG Industries by 48.9% during the 4th quarter. Franklin Resources Inc. now owns 6,990,595 shares of the specialty chemicals company’s stock worth $716,256,000 after purchasing an additional 2,295,118 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its position in shares of PPG Industries by 0.4% in the fourth quarter. First Eagle Investment Management LLC now owns 6,290,622 shares of the specialty chemicals company’s stock valued at $644,537,000 after purchasing an additional 26,793 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

About PPG Industries

PPG Industries is a global supplier of paints, coatings and specialty materials that serves industrial, transportation, consumer and construction markets. Founded in 1883 as the Pittsburgh Plate Glass Company, PPG has evolved from its origins in glass manufacturing into a diversified coatings and materials company headquartered in Pittsburgh, Pennsylvania. The company develops and manufactures a broad array of products used to protect and enhance surfaces, from consumer paints to highly engineered coatings for demanding industrial applications.

PPG’s product portfolio includes architectural and decorative paints, automotive original equipment and refinish coatings, industrial coatings for machinery and equipment, protective and marine coatings, aerospace and defense coatings, and packaging coatings and materials.