PPG Industries (NYSE:PPG) Stock Price Expected to Rise, UBS Group Analyst Says

PPG Industries (NYSE:PPG - Get Free Report) had its target price lifted by analysts at UBS Group from $111.00 to $125.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the specialty chemicals company's stock. UBS Group's price objective indicates a potential upside of 5.65% from the stock's current price.

PPG has been the topic of a number of other research reports. Royal Bank Of Canada lifted their price objective on shares of PPG Industries from $112.00 to $113.00 and gave the stock a "sector perform" rating in a research report on Friday, May 2nd. Fermium Researc raised shares of PPG Industries to a "strong-buy" rating in a report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of PPG Industries from $125.00 to $140.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. JPMorgan Chase & Co. reduced their target price 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. Finally, Bank of America restated a "neutral" rating and set a $126.00 price objective (down from $143.00) on shares of PPG Industries in a research report on Tuesday, April 15th. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, PPG Industries has an average rating of "Moderate Buy" and an average target price of $131.83.

PPG Industries Trading Up 0.8%

Shares of PPG Industries stock traded up $0.90 during trading on Wednesday, hitting $118.31. The stock had a trading volume of 1,267,602 shares, compared to its average volume of 1,858,971. PPG Industries has a 12 month low of $90.24 and a 12 month high of $137.24. The firm's fifty day simple moving average is $111.98 and its 200-day simple moving average is $112.19. The stock has a market cap of $26.86 billion, a PE ratio of 25.33, a PEG ratio of 2.46 and a beta of 1.16. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.35 and a quick ratio of 0.99.

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

Hedge Funds Weigh In On PPG Industries

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of PPG Industries by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company's stock valued at $3,508,210,000 after acquiring an additional 756,937 shares during the period. Clear Creek Financial Management LLC acquired a new position in shares of PPG Industries in the 1st quarter valued at $240,000. Bell Asset Management Ltd purchased a new position in PPG Industries in the 4th quarter valued at $6,955,000. Wealthfront Advisers LLC grew its position in PPG Industries by 256.2% in the 4th quarter. Wealthfront Advisers LLC now owns 23,761 shares of the specialty chemicals company's stock valued at $2,838,000 after buying an additional 17,090 shares during the last quarter. Finally, Meridian Wealth Partners LLC purchased a new position in PPG Industries in the 4th quarter valued at $15,558,000. 81.86% of the stock is owned by institutional investors and hedge funds.

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.