PPG Industries (NYSE:PPG) Given New $123.00 Price Target at UBS Group

Key Points

• UBS raised PPG Industries’ price target from $116 to $123 while maintaining a “neutral” rating, implying approximately 2.9% upside from the reported share price.
• Analyst sentiment is mixed but leans positive: PPG has nine Buy and nine Hold ratings, a “Moderate Buy” consensus, and an average price target of $126.82. KeyCorp and Barclays also recently increased their targets.
• PPG’s latest quarterly results exceeded expectations, with EPS of $2.25 versus a $2.12 consensus and revenue of $4.35 billion, up 6.6% year over year. Shares were trading at $119.51, while institutional investors owned 81.86% of the stock.

PPG Industries (NYSE:PPG - Get Free Report) had its target price lifted by UBS Group from $116.00 to $123.00 in a report issued on Thursday, Benzinga reports. The firm presently has a "neutral" rating on the specialty chemicals company's stock. UBS Group's price target would suggest a potential upside of 2.92% from the stock's current price.

Other equities research analysts have also recently issued research reports about the company. KeyCorp raised their target price on PPG Industries from $128.00 to $131.00 and gave the stock an "overweight" rating in a research note on Thursday. Wall Street Zen cut PPG Industries from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Barclays boosted their price target on shares of PPG Industries from $136.00 to $137.00 and gave the stock an "overweight" rating in a report on Thursday. Citigroup cut their price objective on shares of PPG Industries from $121.00 to $118.00 and set a "neutral" rating on the stock in a report on Wednesday, September 30th. Finally, Royal Bank Of Canada lowered their target price on shares of PPG Industries from $122.00 to $115.00 and set a "sector perform" rating on the stock in a research report on Friday, October 9th. Nine equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $126.82.

PPG Industries Price Performance

Shares of NYSE PPG traded up $1.07 during trading on Thursday, hitting $119.51. The company had a trading volume of 921,463 shares, compared to its average volume of 1,980,839. The firm has a market capitalization of $26.57 billion, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 2.04 and a beta of 1.06. The stock has a fifty day simple moving average of $108.51 and a two-hundred day simple moving average of $112.35. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.72. PPG Industries has a fifty-two week low of $93.39 and a fifty-two week high of $133.43.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings data on Tuesday, October 27th. The specialty chemicals company reported $2.25 earnings per share for the quarter, beating analysts' consensus estimates of $2.12 by $0.13. PPG Industries had a return on equity of 21.07% and a net margin of 9.57%. The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same quarter last year, the firm posted $2.13 EPS. The firm's revenue for the quarter was up 6.6% on a year-over-year basis. On average, research analysts expect that PPG Industries will post 7.87 earnings per share for the current year.

Institutional Investors Weigh In On PPG Industries

A number of large investors have recently added to or reduced their stakes in PPG. Essential Partners LLC raised its position in shares of PPG Industries by 59.3% during the 1st quarter. Essential Partners LLC now owns 301 shares of the specialty chemicals company's stock worth $32,000 after purchasing an additional 112 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in PPG Industries by 6.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,012 shares of the specialty chemicals company's stock worth $244,000 after acquiring an additional 114 shares during the period. Ancora Advisors LLC boosted its stake in shares of PPG Industries by 36.5% during the 2nd quarter. Ancora Advisors LLC now owns 430 shares of the specialty chemicals company's stock valued at $52,000 after buying an additional 115 shares during the period. Glenview Trust Co grew its position in PPG Industries by 0.8% in the third quarter. Glenview Trust Co now owns 16,047 shares of the specialty chemicals company's stock worth $1,674,000 after acquiring an additional 125 shares in the last quarter. Finally, Wealth Alliance LLC boosted its position in PPG Industries by 2.8% during the first quarter. Wealth Alliance LLC now owns 5,125 shares of the specialty chemicals company's stock worth $548,000 after purchasing an additional 139 shares during the period. 81.86% of the stock is owned by institutional investors and hedge funds.

More PPG Industries News

Here are the key news stories impacting PPG Industries this week:

• Positive Sentiment: Q3 earnings and revenue exceeded expectations. PPG reported adjusted earnings of $2.25 per share, above the $2.12–$2.13 consensus range, while revenue reached $4.35 billion versus an approximately $4.28 billion estimate. Revenue grew 6.6% year over year, supported by aerospace demand, higher pricing and stronger volumes. PPG Q3 Earnings Beat Estimates
• Positive Sentiment: Full-year outlook improved. Management outlined adjusted full-year EPS of $7.90 to $8.10 and expects fourth-quarter EBITDA margin to improve by as much as 100 basis points. The company also described third-quarter EPS as a record, reinforcing expectations for continued operating momentum. PPG Full-Year Outlook
• Positive Sentiment: Analysts raised price targets and maintained bullish ratings. Wells Fargo lifted its target to $135, while Barclays and Bernstein raised theirs to $137; both Barclays and Wells Fargo have an “overweight” rating. KeyBanc also increased its target to $131, suggesting analysts see additional upside after the earnings beat. Barclays PPG Ratings
• Neutral Sentiment: Technical and valuation signals are mixed. PPG recently moved above its 200-day moving average, a potentially constructive technical signal, while Zacks highlighted the company as a value stock. However, investors should continue monitoring cyclical demand, cost pressures and the sustainability of aerospace-related growth. PPG Shares Cross Above 200-Day Moving Average

About PPG Industries

PPG Industries, Inc is a global manufacturer of paints, coatings and specialty materials. The company develops products designed to protect, decorate and improve the performance of surfaces and components used in transportation, construction, manufacturing and consumer products.

Its product portfolio includes automotive and commercial vehicle coatings, aerospace coatings, industrial and protective coatings, architectural paints, packaging coatings, and coatings used in marine and other specialty applications.

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