PPG Industries (NYSE:PPG) Price Target Raised to $125.00 at UBS Group

PPG Industries (NYSE:PPG - Get Free Report) had its price target lifted by UBS Group from $111.00 to $125.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the specialty chemicals company's stock. UBS Group's price objective would indicate a potential upside of 6.60% from the company's current price.

A number of other brokerages have also commented on PPG. Deutsche Bank Aktiengesellschaft upped their price objective on shares of PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Fermium Researc raised shares of PPG Industries to a "strong-buy" rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. cut their price objective on shares of PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Wells Fargo & Company upped their price objective 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, Bank of America reaffirmed a "neutral" rating and set a $126.00 price objective (down previously from $143.00) on shares of PPG Industries in a research report on Tuesday, April 15th. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $131.83.

PPG Industries Stock Performance

PPG Industries stock traded down $0.15 on Wednesday, reaching $117.26. 202,559 shares of the stock were exchanged, compared to its average volume of 1,851,609. The stock has a market cap of $26.62 billion, a PE ratio of 25.14, a PEG ratio of 2.42 and a beta of 1.16. The company has a current ratio of 1.35, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79. PPG Industries has a twelve month low of $90.24 and a twelve month high of $137.24. The firm has a fifty day moving average price of $111.98 and a two-hundred day moving average price of $112.19.

PPG Industries (NYSE:PPG - Get Free Report) last released its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.10. The firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.67 billion. PPG Industries had a net margin of 6.49% and a return on equity of 24.84%. The business's revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.87 EPS. Sell-side analysts anticipate that PPG Industries will post 7.95 EPS for the current year.

Institutional Trading of PPG Industries

Several hedge funds have recently modified their holdings of the company. Czech National Bank increased its holdings in shares of PPG Industries by 4.1% during the second quarter. Czech National Bank now owns 55,486 shares of the specialty chemicals company's stock worth $6,312,000 after buying an additional 2,200 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of PPG Industries by 21.2% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 14,990 shares of the specialty chemicals company's stock worth $1,705,000 after buying an additional 2,627 shares in the last quarter. Kera Capital Partners Inc. acquired a new stake in shares of PPG Industries during the second quarter worth approximately $219,000. AG2R LA Mondiale Gestion D Actifs acquired a new stake in shares of PPG Industries during the first quarter worth approximately $1,152,000. Finally, Swedbank AB increased its holdings in shares of PPG Industries by 2.3% during the first quarter. Swedbank AB now owns 158,022 shares of the specialty chemicals company's stock worth $17,280,000 after buying an additional 3,612 shares in the last quarter. Institutional investors and hedge funds 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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