PPG Industries (PPG) – Investment Analysts’ Recent Ratings Updates

PPG Industries (NYSE: PPG) recently received a number of ratings updates from brokerages and research firms:

  • 11/1/2018 – PPG Industries had its price target raised by analysts at Deutsche Bank AG from $114.00 to $120.00. They now have a “buy” rating on the stock.
  • 10/29/2018 – PPG Industries was upgraded by analysts at Goldman Sachs Group Inc from a “buy” rating to a “conviction-buy” rating.
  • 10/19/2018 – PPG Industries was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating. They now have a $105.00 price target on the stock.
  • 10/19/2018 – PPG Industries had its price target lowered by analysts at BMO Capital Markets from $116.00 to $107.00. They now have a “hold” rating on the stock.
  • 10/15/2018 – PPG Industries was given a new $115.00 price target on by analysts at Credit Suisse Group AG. They now have a “hold” rating on the stock.
  • 10/12/2018 – PPG Industries had its price target lowered by analysts at KeyCorp from $128.00 to $119.00. They now have an “overweight” rating on the stock.
  • 10/11/2018 – PPG Industries had its price target lowered by analysts at Citigroup Inc from $113.00 to $103.00. They now have a “neutral” rating on the stock.
  • 10/10/2018 – PPG Industries had its price target lowered by analysts at Royal Bank of Canada to $105.00. They now have a “sector perform” rating on the stock.
  • 10/9/2018 – PPG Industries was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 10/9/2018 – PPG Industries had its price target lowered by analysts at Credit Suisse Group AG from $119.00 to $115.00. They now have a “hold” rating on the stock.
  • 10/9/2018 – PPG Industries was downgraded by analysts at Vertical Research from a “buy” rating to a “hold” rating.
  • 10/9/2018 – PPG Industries was given a new $114.00 price target on by analysts at Northcoast Research. They now have a “buy” rating on the stock.
  • 10/9/2018 – PPG Industries had its price target lowered by analysts at Deutsche Bank AG from $124.00 to $116.00. They now have a “buy” rating on the stock.
  • 10/8/2018 – PPG Industries was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “PPG Industries has outperformed the industry it belongs to over a year. Cost savings from restructuring actions should aid to PPG Industries’ margins in 2018. The company also remains committed to deploy cash on acquisitions and share repurchases. However, PPG Industries is exposed to raw materials cost pressure which may affect its margins. The company also faces headwind from unfavorable currency translation in the third quarter, which is expected to hurt sales across its business segments in the quarter. Moreover, the trade tariffs have led to an uncertain environment for industrial coatings in China. The company's stretched valuation is another concern.”
  • 9/25/2018 – PPG Industries was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Earnings estimates for PPG Industries for the third quarter and full year have been stable lately. PPG Industries has outperformed the industry it belongs to over a year. PPG Industries is taking steps for growing organically as well as cutting costs. Cost savings from its restructuring actions should aid to its margins in 2018. The company also remains committed to deploy cash on acquisitions and share repurchases. However, PPG Industries is exposed to raw materials cost pressure which may affect its margins. The company also faces headwind from unfavorable currency translation in the third quarter. Moreover, the trade tariffs have led to an uncertain demand environment for industrial coatings in China.”
  • 9/24/2018 – PPG Industries had its “neutral” rating reaffirmed by analysts at Credit Suisse Group AG. They now have a $119.00 price target on the stock.
  • 9/19/2018 – PPG Industries was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “PPG Industries is exposed to raw materials cost pressure which may continue to affect its margins. The company also faces headwind from unfavorable currency translation in the third quarter. Moreover, the trade tariffs have led to an uncertain demand environment for industrial coatings in China. The company's stretched valuation is another concern.”

Shares of PPG Industries stock traded up $0.91 during trading on Tuesday, reaching $107.36. 934,568 shares of the company were exchanged, compared to its average volume of 1,776,797. The company has a quick ratio of 1.22, a current ratio of 1.71 and a debt-to-equity ratio of 0.99. PPG Industries, Inc. has a twelve month low of $94.37 and a twelve month high of $122.07. The stock has a market cap of $25.65 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 2.21 and a beta of 1.36.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, October 18th. The specialty chemicals company reported $1.45 EPS for the quarter, hitting analysts’ consensus estimates of $1.45. PPG Industries had a return on equity of 27.83% and a net margin of 8.34%. The business had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.81 billion. During the same period in the previous year, the firm earned $1.52 earnings per share. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. Analysts expect that PPG Industries, Inc. will post 5.81 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 12th. Investors of record on Monday, November 12th will be paid a dividend of $0.48 per share. The ex-dividend date is Thursday, November 8th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.79%. PPG Industries’s dividend payout ratio (DPR) is presently 32.71%.

Several institutional investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA grew its stake in shares of PPG Industries by 6.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 23,500,737 shares of the specialty chemicals company’s stock worth $2,564,635,000 after purchasing an additional 1,387,824 shares during the period. Parnassus Investments CA grew its stake in shares of PPG Industries by 68.1% during the second quarter. Parnassus Investments CA now owns 4,256,434 shares of the specialty chemicals company’s stock worth $441,520,000 after purchasing an additional 1,724,631 shares during the period. Wells Fargo & Company MN grew its stake in shares of PPG Industries by 3.5% during the third quarter. Wells Fargo & Company MN now owns 3,498,867 shares of the specialty chemicals company’s stock worth $381,831,000 after purchasing an additional 119,509 shares during the period. Charles Schwab Investment Advisory Inc. acquired a new stake in shares of PPG Industries during the second quarter worth $327,975,000. Finally, Bank of America Corp DE grew its stake in shares of PPG Industries by 15.2% during the second quarter. Bank of America Corp DE now owns 3,051,444 shares of the specialty chemicals company’s stock worth $316,527,000 after purchasing an additional 401,643 shares during the period. 78.76% of the stock is owned by institutional investors and hedge funds.

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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