PPG Industries (NYSE:PPG) Stock Price Target Lowered at Citigroup

Key Points

• Citigroup lowered PPG Industries’ price target to $118 from $121 while maintaining a “neutral” rating, implying 11.35% potential upside from the prior close.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $126.62; eight analysts rate the stock a Buy and nine rate it a Hold.
• PPG opened at $105.98, below its 50-day and 200-day moving averages. The company’s latest quarter narrowly missed EPS estimates but exceeded revenue expectations, with sales rising 7.2% year over year.

PPG Industries (NYSE:PPG - Get Free Report) had its price objective lowered by stock analysts at Citigroup from $121.00 to $118.00 in a report issued on Wednesday. The brokerage currently has a "neutral" rating on the specialty chemicals company's stock. Citigroup's target price points to a potential upside of 11.35% from the stock's previous close.

Other analysts also recently issued reports about the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of PPG Industries in a research report on Monday, September 14th. UBS Group dropped their price target on shares of PPG Industries from $130.00 to $125.00 and set a "neutral" rating on the stock in a research note on Thursday, July 30th. Sanford C. Bernstein reiterated an "outperform" rating and set a $136.00 price objective on shares of PPG Industries in a research report on Thursday, September 24th. Royal Bank Of Canada lowered their target price on PPG Industries from $129.00 to $122.00 and set a "sector perform" rating on the stock in a research report on Thursday, July 30th. Finally, Mizuho lifted their target price on PPG Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Wednesday, July 1st. Eight analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, PPG Industries currently has a consensus rating of "Hold" and a consensus price target of $126.62.

PPG Industries Stock Down 1.0%

Shares of NYSE:PPG opened at $105.98 on Wednesday. PPG Industries has a 1-year low of $93.39 and a 1-year high of $133.43. The company's fifty day moving average is $111.70 and its two-hundred day moving average is $111.45. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.15 and a current ratio of 1.58. The stock has a market capitalization of $23.56 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 1.73 and a beta of 1.07.

PPG Industries (NYSE:PPG - Get Free Report) last issued its earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.25 by ($0.02). The business had revenue of $4.50 billion during the quarter, compared to the consensus estimate of $4.37 billion. PPG Industries had a return on equity of 21.07% and a net margin of 9.57%.The business's revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.22 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Equities analysts anticipate that PPG Industries will post 7.89 EPS for the current year.

Institutional Trading of PPG Industries

Hedge funds and other institutional investors have recently modified their holdings of the company. QRG Capital Management Inc. grew its holdings in PPG Industries by 9.2% during the second quarter. QRG Capital Management Inc. now owns 20,147 shares of the specialty chemicals company's stock worth $2,444,000 after acquiring an additional 1,695 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in PPG Industries by 6.0% in the 2nd 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 during the last quarter. Envestnet Asset Management Inc. boosted its holdings in PPG Industries by 2.8% during the second quarter. Envestnet Asset Management Inc. now owns 251,590 shares of the specialty chemicals company's stock worth $30,515,000 after buying an additional 6,928 shares in the last quarter. State Street Corp boosted its stake in shares of PPG Industries by 8.8% during the 2nd quarter. State Street Corp now owns 13,871,116 shares of the specialty chemicals company's stock worth $1,682,428,000 after acquiring an additional 1,124,109 shares in the last quarter. Finally, Archford Capital Strategies LLC acquired a new position in shares of PPG Industries in the 2nd quarter valued at $208,000. Institutional investors own 81.86% of the company's stock.

PPG Industries Company Profile

PPG Industries, Inc is a global manufacturer of paints, coatings and specialty materials. Founded in 1883 as Pittsburgh Plate Glass, the company originally produced plate glass and later expanded into coatings and related technologies. Today, PPG's products are used to protect, decorate and improve the performance of vehicles, aircraft, buildings, industrial equipment and consumer goods.

PPG serves the automotive, aerospace, construction, industrial, marine, packaging and consumer-product markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.