PPG Industries (NYSE:PPG) Price Target Lowered to $115.00 at UBS Group

Key Points

• UBS Group has lowered its price target for PPG Industries from $125.00 to $115.00, maintaining a "neutral" rating for the company's stock.
• Analysts currently have a consensus rating of "Moderate Buy" for PPG Industries, with a target price of $127.09.
• PPG Industries reported a quarterly EPS of $2.22, matching estimates, with a slight decline in revenue compared to the previous year.

PPG Industries (NYSE:PPG - Get Free Report) had its price target reduced by analysts at UBS Group from $125.00 to $115.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the specialty chemicals company's stock. UBS Group's price objective suggests a potential upside of 9.86% from the stock's previous close.

PPG has been the subject of a number of other reports. Mizuho lowered their price objective on shares of PPG Industries from $135.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday. Royal Bank Of Canada upped 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 report on Friday, August 1st. Weiss Ratings restated a "hold (c)" rating on shares of PPG Industries in a research report on Saturday, September 27th. Wells Fargo & Company upped their price target on shares of PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Finally, Citigroup decreased their price target on shares of PPG Industries from $124.00 to $120.00 and set a "buy" rating for the company in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, PPG Industries presently has a consensus rating of "Moderate Buy" and a consensus target price of $127.09.

PPG Industries Price Performance

Shares of PPG Industries stock traded up $0.25 on Monday, reaching $104.68. 462,841 shares of the stock were exchanged, compared to its average volume of 1,998,572. The firm's 50 day moving average is $108.83 and its 200-day moving average is $109.41. PPG Industries has a one year low of $90.24 and a one year high of $132.18. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.42. The firm has a market cap of $23.63 billion, a PE ratio of 23.74, a P/E/G ratio of 2.16 and a beta of 1.16.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.22. The business had revenue of $4.20 billion during the quarter, compared to analysts' expectations of $4.16 billion. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The firm's quarterly revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.50 EPS. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. As a group, analysts anticipate that PPG Industries will post 7.95 EPS for the current fiscal year.

Hedge Funds Weigh In On PPG Industries

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of PPG Industries by 0.7% in the second quarter. Vanguard Group Inc. now owns 29,265,369 shares of the specialty chemicals company's stock valued at $3,328,936,000 after acquiring an additional 192,560 shares during the period. State Street Corp boosted its stake in shares of PPG Industries by 6.3% in the 2nd quarter. State Street Corp now owns 12,624,828 shares of the specialty chemicals company's stock valued at $1,436,074,000 after purchasing an additional 749,081 shares in the last quarter. Wellington Management Group LLP raised its holdings in PPG Industries by 5.6% during the 1st quarter. Wellington Management Group LLP now owns 11,159,203 shares of the specialty chemicals company's stock valued at $1,220,259,000 after buying an additional 592,152 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in PPG Industries by 21.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 5,560,280 shares of the specialty chemicals company's stock valued at $632,482,000 after buying an additional 971,799 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in PPG Industries by 58.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,797,682 shares of the specialty chemicals company's stock valued at $524,627,000 after buying an additional 1,766,518 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company's stock.

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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