Citigroup Has Lowered Expectations for PPG Industries (NYSE:PPG) Stock Price

Key Points

• Citigroup has lowered its price target for PPG Industries' stock from $124.00 to $120.00, maintaining a "buy" rating which implies a potential upside of 15.32% from the last close.
• Other analysts have varied ratings, with Wells Fargo raising its target from $125.00 to $135.00 and giving an "overweight" rating, while Weiss Ratings maintained a "hold" rating.
• PPG's stock trades at $104.06 with an average rating of "Moderate Buy" and a consensus target price of $128.00, following a reported revenue drop of 0.9% year-over-year in its latest earnings results.

PPG Industries (NYSE:PPG - Get Free Report) had its price target cut by stock analysts at Citigroup from $124.00 to $120.00 in a research note issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the specialty chemicals company's stock. Citigroup's price objective would suggest a potential upside of 15.32% from the company's previous close.

Other research analysts also recently issued reports about the company. Weiss Ratings reiterated a "hold (c)" rating on shares of PPG Industries in a research report on Saturday, September 27th. Wells Fargo & Company lifted their price target on shares of PPG Industries from $125.00 to $135.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Royal Bank Of Canada raised their price target on shares of PPG Industries from $115.00 to $117.00 and gave the company a "sector perform" rating in a report on Friday, August 1st. UBS Group lifted their price target on shares of PPG Industries from $111.00 to $125.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Finally, Mizuho decreased their price objective on PPG Industries from $135.00 to $125.00 and set an "outperform" rating for the company in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, PPG Industries has an average rating of "Moderate Buy" and a consensus target price of $128.00.

PPG Industries Price Performance

PPG stock traded down $0.37 during trading on Monday, reaching $104.06. The company's stock had a trading volume of 329,221 shares, compared to its average volume of 1,997,815. The company has a quick ratio of 1.04, a current ratio of 1.42 and a debt-to-equity ratio of 0.76. The company's fifty day moving average is $108.83 and its 200-day moving average is $109.41. The company has a market capitalization of $23.49 billion, a P/E ratio of 23.59, a price-to-earnings-growth ratio of 2.16 and a beta of 1.16. PPG Industries has a 1 year low of $90.24 and a 1 year high of $132.18.

PPG Industries (NYSE:PPG - Get Free Report) last released its earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 EPS for the quarter, hitting the consensus estimate of $2.22. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The firm had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.16 billion. During the same quarter in the previous year, the firm earned $2.50 earnings per share. The company's quarterly revenue was down .9% compared to the same quarter last year. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. On average, research analysts expect that PPG Industries will post 7.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PPG Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Advisors Ltd. LLC raised its holdings in PPG Industries by 127.6% during the second quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company's stock worth $25,000 after purchasing an additional 125 shares in the last quarter. Cheviot Value Management LLC acquired a new stake in shares of PPG Industries during the first quarter worth about $26,000. Gladwyn Financial Advisors Inc. purchased a new stake in shares of PPG Industries in the 2nd quarter valued at about $31,000. Headlands Technologies LLC purchased a new position in PPG Industries during the 1st quarter worth approximately $30,000. Finally, CVA Family Office LLC lifted its stake in PPG Industries by 70.6% in the first quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock valued at $30,000 after buying an additional 113 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company's stock.

About PPG Industries

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

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