PPG Industries, Inc. (NYSE:PPG) Stock Has Average Target Price of $126.12 According to Brokerages

Key Points

• Analysts rate PPG Industries a “Moderate Buy.” Across 18 ratings, the stock has eight buys, one strong buy and nine holds, with an average 12-month price target of $126.12 versus a share price of $109.92.
• PPG reported quarterly revenue of $4.50 billion, up 7.2% year over year and above estimates, though adjusted EPS of $2.23 slightly missed the $2.25 consensus.
• The company declared a quarterly dividend of $0.74 per share, equivalent to $2.96 annually and a 2.7% yield; institutional investors own approximately 81.86% of outstanding shares.

Shares of PPG Industries, Inc. (NYSE:PPG - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the eighteen ratings firms that are covering the company, MarketBeat.com reports. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $126.12.

Several brokerages recently weighed in on PPG. The Goldman Sachs Group reaffirmed a "buy" rating and set a $128.00 target price on shares of PPG Industries in a research note on Friday, October 9th. Weiss Ratings restated a "hold (c)" rating on shares of PPG Industries in a research note on Monday, September 14th. UBS Group cut their price objective on PPG Industries from $125.00 to $116.00 and set a "neutral" rating on the stock in a research report on Monday, October 5th. BMO Capital Markets reduced their price objective on PPG Industries from $140.00 to $138.00 and set an "outperform" rating on the stock in a research note on Monday, July 6th. Finally, Barclays began coverage on PPG Industries in a report on Tuesday, October 13th. They issued an "overweight" rating and a $136.00 target price for the company.

PPG Industries Stock Performance

NYSE PPG opened at $109.92 on Tuesday. The company has a market cap of $24.44 billion, a P/E ratio of 15.75, a P/E/G ratio of 2.04 and a beta of 1.06. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.58 and a quick ratio of 1.15. The stock has a 50-day moving average of $108.47 and a two-hundred day moving average of $112.22. PPG Industries has a 1-year low of $93.39 and a 1-year high of $133.43.

PPG Industries (NYSE:PPG - Get Free Report) last issued 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). PPG Industries had a return on equity of 21.07% and a net margin of 9.57%. The business had revenue of $4.50 billion for the quarter, compared to analyst estimates of $4.37 billion. During the same period in the prior year, the company posted $2.22 EPS. The firm's revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, analysts anticipate that PPG Industries will post 7.87 EPS for the current year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Tuesday, November 10th will be paid a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Tuesday, November 10th. PPG Industries's dividend payout ratio (DPR) is presently 42.41%.

Institutional Trading of PPG Industries

A number of large investors have recently made changes to their positions in PPG. BlackRock Inc. purchased a new stake in shares of PPG Industries in the 2nd quarter valued at approximately $2,856,392,000. State Street Corp raised its holdings in shares of PPG Industries by 8.8% in the 2nd 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. Pzena Investment Management LLC acquired a new stake in shares of PPG Industries in the 2nd quarter valued at $946,964,000. Dimensional Fund Advisors LP lifted its position in shares of PPG Industries by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,925,343 shares of the specialty chemicals company's stock worth $312,613,000 after purchasing an additional 58,411 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of PPG Industries during the 2nd quarter worth $318,870,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

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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