PPG Industries (NYSE:PPG) Given New $117.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has raised its price target for PPG Industries shares from $115.00 to $117.00, indicating a potential upside of 12.34% from the company's previous close.
• Analysts have mixed ratings for PPG Industries, with nine giving a hold rating, six a buy rating, and one a strong buy, resulting in a consensus target price of $129.82.
• In its most recent quarterly earnings report, PPG Industries met analysts' expectations with earnings of $2.22 per share on revenues of $4.20 billion, although revenue decreased 0.9% year-over-year.

PPG Industries (NYSE:PPG - Get Free Report) had its price target increased by equities research analysts at Royal Bank Of Canada from $115.00 to $117.00 in a research note issued on Friday,Benzinga reports. The firm presently has a "sector perform" rating on the specialty chemicals company's stock. Royal Bank Of Canada's price objective indicates a potential upside of 12.34% from the company's previous close.

A number of other equities analysts also recently weighed in on the stock. Fermium Researc raised shares of PPG Industries to a "strong-buy" rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. cut their price target on shares of PPG Industries from $115.00 to $105.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Deutsche Bank Aktiengesellschaft increased their price target on shares of PPG Industries from $125.00 to $140.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. UBS Group increased their price objective on shares of PPG Industries from $111.00 to $125.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 9th. Finally, Mizuho increased their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $129.82.

PPG Industries Trading Down 1.3%

NYSE:PPG traded down $1.35 during trading hours on Friday, reaching $104.15. 731,488 shares of the company were exchanged, compared to its average volume of 2,097,641. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.42 and a quick ratio of 0.99. The firm has a market cap of $23.64 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 2.22 and a beta of 1.16. PPG Industries has a 52-week low of $90.24 and a 52-week high of $137.24. The stock has a 50 day simple moving average of $113.17 and a 200 day simple moving average of $111.88.

PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share for the quarter, hitting analysts' consensus estimates of $2.22. The company had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.16 billion. PPG Industries had a net margin of 6.25% and a return on equity of 24.18%. PPG Industries's revenue was down .9% on a year-over-year basis. During the same quarter last year, the firm posted $2.50 earnings per share. As a group, analysts predict that PPG Industries will post 7.95 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas boosted its stake in PPG Industries by 1.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 34,468 shares of the specialty chemicals company's stock valued at $3,921,000 after acquiring an additional 538 shares during the last quarter. Transcend Capital Advisors LLC boosted its stake in PPG Industries by 2.9% during the 2nd quarter. Transcend Capital Advisors LLC now owns 21,901 shares of the specialty chemicals company's stock valued at $2,491,000 after acquiring an additional 611 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its stake in PPG Industries by 3.8% during the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 5,463 shares of the specialty chemicals company's stock valued at $621,000 after acquiring an additional 201 shares during the last quarter. Hixon Zuercher LLC boosted its stake in PPG Industries by 1.3% during the 2nd quarter. Hixon Zuercher LLC now owns 19,798 shares of the specialty chemicals company's stock valued at $2,252,000 after acquiring an additional 262 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in PPG Industries by 258.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 55,631 shares of the specialty chemicals company's stock valued at $6,328,000 after acquiring an additional 40,107 shares during the last quarter. 81.86% of the stock is currently 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.

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