PPG Industries (NYSE:PPG) Given New $132.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo & Company has reduced its price target for PPG Industries from $135.00 to $132.00, maintaining an "overweight" rating, which suggests a potential upside of 31.87% from the company's previous close.
• Recent research reports show a mixed outlook for PPG, with varying target reductions and ratings from several firms, resulting in a consensus rating of "Moderate Buy" and a consensus price target of $126.82.
• PPG Industries recently reported earnings of $2.22 per share, meeting expectations, with revenues of $4.20 billion for the quarter, despite a 0.9% year-over-year decline.

PPG Industries (NYSE:PPG - Get Free Report) had its price target decreased by stock analysts at Wells Fargo & Company from $135.00 to $132.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an "overweight" rating on the specialty chemicals company's stock. Wells Fargo & Company's target price would indicate a potential upside of 31.87% from the company's previous close.

PPG has been the topic of a number of other research reports. Royal Bank Of Canada lifted their price target on shares of PPG Industries from $115.00 to $117.00 and gave the company a "sector perform" rating in a research note on Friday, August 1st. UBS Group cut their price objective on shares of PPG Industries from $125.00 to $115.00 and set a "neutral" rating on the stock in a research report on Monday. Mizuho cut their price objective on shares of PPG Industries from $135.00 to $125.00 and set an "outperform" rating on the stock in a research report on Friday, October 3rd. Citigroup cut their price target on PPG Industries from $124.00 to $120.00 and set a "buy" rating on the stock in a report on Monday. Finally, Weiss Ratings restated a "hold (c)" rating on shares of PPG Industries in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $126.82.

PPG Industries Trading Up 0.5%

Shares of PPG stock traded up $0.50 on Friday, hitting $100.10. The stock had a trading volume of 599,429 shares, compared to its average volume of 1,988,277. The company has a current ratio of 1.42, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76. PPG Industries has a twelve month low of $90.24 and a twelve month high of $132.18. The company has a fifty day moving average price of $108.19 and a two-hundred day moving average price of $109.16. The firm has a market cap of $22.59 billion, a P/E ratio of 22.65, a PEG ratio of 2.11 and a beta of 1.16.

PPG Industries (NYSE:PPG - Get Free Report) last posted its earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share for the quarter, hitting the consensus estimate of $2.22. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.The firm had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.16 billion. During the same period in the previous year, the company posted $2.50 earnings per share. The company'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. As a group, analysts forecast that PPG Industries will post 7.95 earnings per share for the current fiscal year.

Institutional Trading of PPG Industries

Institutional investors and hedge funds have recently bought and sold shares of the business. Capital Advisors Ltd. LLC raised its stake in PPG Industries by 127.6% in the second quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company's stock valued at $25,000 after buying an additional 125 shares during the period. Cheviot Value Management LLC bought a new stake in PPG Industries in the 1st quarter valued at $26,000. Gladwyn Financial Advisors Inc. bought a new stake in PPG Industries in the 2nd quarter valued at $31,000. Headlands Technologies LLC bought a new position in shares of PPG Industries in the first quarter valued at about $30,000. Finally, CVA Family Office LLC raised its position in shares of 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 purchasing an additional 113 shares during the period. Institutional investors 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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