Royal Bank Of Canada Issues Pessimistic Forecast for PPG Industries (NYSE:PPG) Stock Price

Key Points

• Royal Bank of Canada cut its PPG Industries price target from $122 to $115 while maintaining a “sector perform” rating, implying about 9.9% upside from the prior close.
• Analyst sentiment remains mixed: eight analysts rate PPG a Buy and nine rate it a Hold, producing an overall “Hold” consensus and an average price target of $125.50.
• PPG shares fell 0.8% to $104.65. The company recently reported quarterly revenue of $4.50 billion, up 7.2% year over year, but earnings per share of $2.23 narrowly missed estimates.

PPG Industries (NYSE:PPG - Get Free Report) had its target price lowered by Royal Bank Of Canada from $122.00 to $115.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a "sector perform" rating on the specialty chemicals company's stock. Royal Bank Of Canada's price objective would suggest a potential upside of 9.89% from the company's previous close.

Several other research analysts have also recently issued reports on PPG. Mizuho raised their target price on shares of PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a report on Wednesday, July 1st. Citigroup dropped their price target on shares of PPG Industries from $121.00 to $118.00 and set a "neutral" rating for the company in a research report on Wednesday, September 30th. KeyCorp started coverage on shares of PPG Industries in a report on Friday, September 11th. They issued an "overweight" rating and a $133.00 price target on the stock. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $136.00 price objective on shares of PPG Industries in a research note on Thursday, September 24th. Finally, Bank of America upgraded shares of PPG Industries from a "neutral" rating to a "buy" rating and increased their target price for the stock from $127.00 to $134.00 in a report on Friday, July 17th. Eight analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $125.50.

PPG Industries Trading Down 0.8%

Shares of NYSE PPG traded down $0.81 during midday trading on Friday, reaching $104.65. The company had a trading volume of 351,817 shares, compared to its average volume of 1,973,672. PPG Industries has a one year low of $93.39 and a one year high of $133.43. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.72. The firm's fifty day moving average price is $110.26 and its 200-day moving average price is $111.66. The stock has a market cap of $23.26 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 1.70 and a beta of 1.06.

PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.02). The company had revenue of $4.50 billion for 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%.PPG Industries's revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.22 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, equities research analysts anticipate that PPG Industries will post 7.89 earnings per share for the current year.

Hedge Funds Weigh In On PPG Industries

Several hedge funds and other institutional investors have recently modified their holdings of PPG. QRG Capital Management Inc. lifted its holdings in PPG Industries by 9.2% in the second quarter. QRG Capital Management Inc. now owns 20,147 shares of the specialty chemicals company's stock worth $2,444,000 after buying an additional 1,695 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in shares of 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 purchasing an additional 114 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of PPG Industries by 2.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 251,590 shares of the specialty chemicals company's stock valued at $30,515,000 after purchasing an additional 6,928 shares during the period. State Street Corp boosted its position in shares of PPG Industries by 8.8% during the second quarter. State Street Corp now owns 13,871,116 shares of the specialty chemicals company's stock valued at $1,682,428,000 after purchasing an additional 1,124,109 shares in the last quarter. Finally, Archford Capital Strategies LLC purchased a new stake in PPG Industries in the second quarter worth $208,000. Hedge funds and other institutional investors own 81.86% of the company's stock.

About PPG Industries

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.

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