PPG Industries (NYSE:PPG) was downgraded by equities research analysts at Seaport Global Securities from a “buy” rating to a “neutral” rating in a report issued on Tuesday, Marketbeat reports. They currently have a $120.00 target price on the specialty chemicals company’s stock. Seaport Global Securities’ price target suggests a potential upside of 6.02% from the company’s previous close. Seaport Global Securities also issued estimates for PPG Industries’ Q3 2018 earnings at $1.81 EPS, Q1 2019 earnings at $1.55 EPS, Q2 2019 earnings at $2.11 EPS, Q3 2019 earnings at $2.03 EPS, Q4 2019 earnings at $1.58 EPS and FY2019 earnings at $7.27 EPS.
Other research analysts also recently issued reports about the company. Deutsche Bank upgraded PPG Industries from a “hold” rating to a “buy” rating and upped their price objective for the stock from $126.00 to $130.00 in a research note on Tuesday, March 20th. Jefferies Group restated a “buy” rating and set a $135.00 price objective on shares of PPG Industries in a research note on Wednesday, January 3rd. Northcoast Research restated a “buy” rating and set a $128.00 price objective on shares of PPG Industries in a research note on Friday, January 19th. Barclays restated an “equal weight” rating and set a $122.00 price objective (down from $125.00) on shares of PPG Industries in a research note on Friday, March 2nd. Finally, Royal Bank of Canada restated a “hold” rating and set a $115.00 price objective on shares of PPG Industries in a research note on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $124.71.
Shares of NYSE PPG opened at $113.19 on Tuesday. PPG Industries has a twelve month low of $100.45 and a twelve month high of $122.07. The company has a quick ratio of 1.22, a current ratio of 1.66 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $27,929.15, a PE ratio of 19.28, a PEG ratio of 1.94 and a beta of 1.56.
PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, January 18th. The specialty chemicals company reported $1.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.01. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.61 billion. PPG Industries had a return on equity of 26.76% and a net margin of 10.98%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.19 EPS. equities analysts forecast that PPG Industries will post 6.54 EPS for the current year.
In other PPG Industries news, VP Jean-Marie Greindl sold 9,500 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $115.79, for a total transaction of $1,100,005.00. Following the completion of the transaction, the vice president now owns 27,685 shares in the company, valued at approximately $3,205,646.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.33% of the company’s stock.
A number of hedge funds have recently made changes to their positions in PPG. Dimensional Fund Advisors LP boosted its position in PPG Industries by 1.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 666,811 shares of the specialty chemicals company’s stock worth $72,457,000 after acquiring an additional 11,902 shares during the period. Parametric Portfolio Associates LLC lifted its holdings in shares of PPG Industries by 3.8% in the third quarter. Parametric Portfolio Associates LLC now owns 619,783 shares of the specialty chemicals company’s stock valued at $67,346,000 after buying an additional 22,803 shares during the period. Atlantic Trust Group LLC lifted its holdings in shares of PPG Industries by 21.2% in the third quarter. Atlantic Trust Group LLC now owns 14,943 shares of the specialty chemicals company’s stock valued at $1,624,000 after buying an additional 2,615 shares during the period. New England Research & Management Inc. lifted its holdings in shares of PPG Industries by 18.2% in the fourth quarter. New England Research & Management Inc. now owns 13,663 shares of the specialty chemicals company’s stock valued at $1,596,000 after buying an additional 2,100 shares during the period. Finally, Gillespie Robinson & Grimm Inc. lifted its holdings in shares of PPG Industries by 27.8% in the fourth quarter. Gillespie Robinson & Grimm Inc. now owns 203,305 shares of the specialty chemicals company’s stock valued at $23,750,000 after buying an additional 44,165 shares during the period. Institutional investors own 76.85% of the company’s stock.
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PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.
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