Mizuho Lowers PPG Industries (NYSE:PPG) Price Target to $125.00

Key Points

• Mizuho has lowered the price target for PPG Industries from $135.00 to $125.00, maintaining an "outperform" rating, which indicates a potential upside of 18.85% from the current price.
• Other analysts have also adjusted their price targets, with Citigroup setting a new target at $130.00 and Wells Fargo increasing theirs to $135.00, reflecting varied outlooks among analysts.
• PPG Industries reported earnings of $2.22 per share for the last quarter, meeting consensus estimates, and had a revenue of $4.20 billion, slightly surpassing analyst expectations.

PPG Industries (NYSE:PPG - Get Free Report) had its price target reduced by Mizuho from $135.00 to $125.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the specialty chemicals company's stock. Mizuho's target price suggests a potential upside of 18.85% from the company's current price.

A number of other equities analysts have also recently commented on the company. Citigroup raised their target price on PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a report on Friday, June 13th. Wells Fargo & Company increased their price target on PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. UBS Group increased their price target on PPG Industries from $111.00 to $125.00 and gave the company a "neutral" rating in a research report on Wednesday, July 9th. Finally, Royal Bank Of Canada increased their price target on PPG Industries from $115.00 to $117.00 and gave the company a "sector perform" rating in a research report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $128.91.

PPG Industries Trading Up 0.6%

Shares of NYSE PPG traded up $0.66 during mid-day trading on Friday, reaching $105.18. 73,833 shares of the company's stock were exchanged, compared to its average volume of 2,000,941. The company's 50-day moving average is $109.06 and its 200-day moving average is $109.51. PPG Industries has a 52-week low of $90.24 and a 52-week high of $132.18. The firm has a market capitalization of $23.74 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 2.16 and a beta of 1.16. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.42.

PPG Industries (NYSE:PPG - Get Free Report) last announced its earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 EPS for the quarter, meeting analysts' consensus estimates of $2.22. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.The company had revenue of $4.20 billion during the quarter, compared to analysts' expectations of $4.16 billion. During the same period last year, the business posted $2.50 EPS. PPG Industries's revenue for the quarter was down .9% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. Analysts expect that PPG Industries will post 7.95 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its position in PPG Industries by 0.7% during the first quarter. Envestnet Asset Management Inc. now owns 249,755 shares of the specialty chemicals company's stock worth $27,311,000 after buying an additional 1,697 shares during the period. Clear Creek Financial Management LLC acquired a new position in PPG Industries during the first quarter worth approximately $240,000. Principal Financial Group Inc. increased its position in PPG Industries by 4.4% during the first quarter. Principal Financial Group Inc. now owns 302,962 shares of the specialty chemicals company's stock worth $33,129,000 after buying an additional 12,650 shares during the period. Meridian Wealth Management LLC increased its position in PPG Industries by 311.2% during the first quarter. Meridian Wealth Management LLC now owns 7,665 shares of the specialty chemicals company's stock worth $838,000 after buying an additional 5,801 shares during the period. Finally, Golden State Wealth Management LLC increased its position in PPG Industries by 966.3% during the first quarter. Golden State Wealth Management LLC now owns 885 shares of the specialty chemicals company's stock worth $97,000 after buying an additional 802 shares during the period. Institutional investors and hedge funds own 81.86% of the company's stock.

PPG Industries Company Profile

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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