PPG Industries (NYSE:PPG) Price Target Cut to $164.00 by Analysts at KeyCorp

PPG Industries (NYSE:PPG - Get Free Report) had its target price dropped by research analysts at KeyCorp from $167.00 to $164.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an "overweight" rating on the specialty chemicals company's stock. KeyCorp's price target points to a potential upside of 15.33% from the stock's current price.

Other research analysts have also recently issued research reports about the stock. Barclays cut shares of PPG Industries from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $163.00 to $149.00 in a report on Tuesday, February 27th. UBS Group restated a "neutral" rating and set a $156.00 price objective (down previously from $173.00) on shares of PPG Industries in a report on Thursday, March 7th. Royal Bank of Canada decreased their price objective on shares of PPG Industries from $158.00 to $156.00 and set a "sector perform" rating for the company in a report on Monday, January 22nd. Wolfe Research began coverage on shares of PPG Industries in a report on Friday, March 1st. They issued a "peer perform" rating for the company. Finally, Redburn Atlantic cut shares of PPG Industries from a "buy" rating to a "neutral" rating and set a $160.00 price target for the company. in a report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $156.93.

PPG Industries Trading Up 1.6 %

Shares of PPG traded up $2.29 on Tuesday, reaching $142.20. 1,223,001 shares of the company's stock were exchanged, compared to its average volume of 1,721,872. The company has a current ratio of 1.47, a quick ratio of 1.05 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $33.47 billion, a P/E ratio of 26.20, a price-to-earnings-growth ratio of 1.37 and a beta of 1.28. The business has a 50 day moving average price of $141.14 and a two-hundred day moving average price of $138.63. PPG Industries has a 12 month low of $120.32 and a 12 month high of $152.89.

PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings results on Friday, January 19th. The specialty chemicals company reported $1.53 earnings per share for the quarter, topping analysts' consensus estimates of $1.49 by $0.04. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.27 billion. PPG Industries had a net margin of 6.96% and a return on equity of 23.51%. PPG Industries's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.22 earnings per share. Research analysts anticipate that PPG Industries will post 8.45 earnings per share for the current year.

Insiders Place Their Bets

In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of the company's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $140.94, for a total transaction of $479,196.00. Following the sale, the chief financial officer now directly owns 28,439 shares of the company's stock, valued at $4,008,192.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.56% of the company's stock.

Hedge Funds Weigh In On PPG Industries

Several large investors have recently modified their holdings of PPG. Vontobel Holding Ltd. raised its position in shares of PPG Industries by 51.9% in the first quarter. Vontobel Holding Ltd. now owns 5,991 shares of the specialty chemicals company's stock valued at $797,000 after purchasing an additional 2,048 shares during the period. Sei Investments Co. grew its stake in shares of PPG Industries by 14.7% in the first quarter. Sei Investments Co. now owns 23,667 shares of the specialty chemicals company's stock valued at $3,099,000 after acquiring an additional 3,025 shares in the last quarter. Prudential PLC acquired a new position in shares of PPG Industries in the first quarter valued at about $619,000. Vanguard Group Inc. grew its stake in shares of PPG Industries by 1.3% in the first quarter. Vanguard Group Inc. now owns 20,180,199 shares of the specialty chemicals company's stock valued at $2,645,019,000 after acquiring an additional 252,358 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. grew its stake in shares of PPG Industries by 7.1% in the first quarter. Candriam Luxembourg S.C.A. now owns 19,480 shares of the specialty chemicals company's stock valued at $2,553,000 after acquiring an additional 1,283 shares in the last quarter. 81.86% of the stock is owned by institutional investors.

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.