PPG Industries (NYSE:PPG) Given New $135.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo raised its PPG Industries price target to $135 from $130 and maintained an “overweight” rating, implying approximately 13.72% upside from the stock’s $118.71 price.
• PPG’s latest quarterly results beat expectations, with EPS of $2.25 versus the $2.12 consensus and revenue of $4.35 billion, up 6.6% year over year.
• Analyst sentiment remains generally positive: MarketBeat reports a “Moderate Buy” consensus rating and an average price target of $126.29, while institutional investors own 81.86% of the shares.

PPG Industries (NYSE:PPG - Get Free Report) had its target price lifted by research analysts at Wells Fargo & Company from $130.00 to $135.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an "overweight" rating on the specialty chemicals company's stock. Wells Fargo & Company's price target would suggest a potential upside of 13.72% from the stock's current price.

Other research analysts also recently issued reports about the company. Barclays initiated coverage on PPG Industries in a research note on Tuesday, October 13th. They set an "overweight" rating and a $136.00 price objective for the company. Citigroup reduced their price target 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. Bank of America upgraded shares of PPG Industries from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $127.00 to $134.00 in a report on Friday, July 17th. Royal Bank Of Canada reduced their price objective 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. Finally, Mizuho lifted their price target on shares of PPG Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, PPG Industries has a consensus rating of "Moderate Buy" and a consensus target price of $126.29.

PPG Industries Stock Performance

NYSE PPG traded up $0.27 during trading hours on Thursday, hitting $118.71. 217,423 shares of the company's stock traded hands, compared to its average volume of 1,977,235. PPG Industries has a 52 week low of $93.39 and a 52 week high of $133.43. The firm has a market capitalization of $26.39 billion, a P/E ratio of 17.06, a P/E/G ratio of 2.04 and a beta of 1.06. The company has a current ratio of 1.58, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72. The business's fifty day moving average price is $108.51 and its two-hundred day moving average price is $112.35.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings results on Tuesday, October 27th. The specialty chemicals company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.13. The business had revenue of $4.35 billion for the quarter, compared to analysts' expectations of $4.28 billion. PPG Industries had a net margin of 9.57% and a return on equity of 21.07%. The company's revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.13 EPS. Equities research analysts predict that PPG Industries will post 7.87 EPS for the current year.

Institutional Investors Weigh In On PPG Industries

Several large investors have recently bought and sold shares of the company. Essential Partners LLC boosted its holdings in PPG Industries by 59.3% in the first 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 holdings in shares of PPG Industries by 6.0% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,012 shares of the specialty chemicals company's stock valued at $244,000 after acquiring an additional 114 shares in the last quarter. Ancora Advisors LLC boosted its stake in 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 purchasing an additional 115 shares in the last quarter. Glenview Trust Co raised 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 lifted its stake 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 valued at $548,000 after purchasing an additional 139 shares during the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting PPG Industries

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

• Positive Sentiment: Q3 results exceeded expectations: PPG reported adjusted earnings of $2.25 per share, above the $2.12–$2.13 analyst consensus, while revenue rose 6.6% year over year to $4.35 billion, beating estimates of approximately $4.28 billion. PPG Industries Reports Third-Quarter Earnings
• Positive Sentiment: Aerospace and operating execution supported growth: The earnings beat was driven by strength in aerospace, along with higher prices and volumes, signaling continued demand and improved pricing realization in key businesses. PPG Q3 Earnings Beat Estimates
• Positive Sentiment: Full-year outlook improved: PPG projected adjusted 2026 earnings of $7.90 to $8.10 per share 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, supporting confidence in its earnings trajectory. PPG Raises Earnings Outlook
• Positive Sentiment: Analysts raised price targets: KeyBanc increased its target to $131, Wells Fargo raised its target to $135 from $130, and Bernstein lifted its target to $137 from $136, reflecting improved expectations following the results. KeyBanc Raises PPG Price Target
• Neutral Sentiment: Technical momentum improved: PPG shares crossed above their 200-day moving average, a potentially constructive technical signal, although some commentary questioned whether the move represented a selling opportunity after the recent advance. PPG Shares Cross Above 200-Day Moving Average

PPG Industries Company Profile

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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