PPG Industries (NYSE:PPG) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

PPG Industries (NYSE:PPG - Get Free Report) had its target price upped by equities research analysts at Wells Fargo & Company from $125.00 to $135.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the specialty chemicals company's stock. Wells Fargo & Company's price target would suggest a potential upside of 17.59% from the stock's previous close.

PPG has been the topic of a number of other research reports. Bank of America reiterated a "neutral" rating and issued a $126.00 price target (down previously from $143.00) on shares of PPG Industries in a research note on Tuesday, April 15th. UBS Group lifted their target price on shares of PPG Industries from $110.00 to $111.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Royal Bank Of Canada increased their price target on shares of PPG Industries from $112.00 to $113.00 and gave the company a "sector perform" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. decreased their price objective on shares of PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $130.67.

PPG Industries Stock Up 0.9%

PPG traded up $1.06 during midday trading on Tuesday, reaching $114.81. The company's stock had a trading volume of 207,129 shares, compared to its average volume of 1,843,863. PPG Industries has a 1 year low of $90.24 and a 1 year high of $137.24. The stock's 50-day moving average is $110.23 and its 200-day moving average is $112.29. The firm has a market capitalization of $26.06 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 2.39 and a beta of 1.17. 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 (NYSE:PPG - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.10. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.67 billion. PPG Industries had a return on equity of 24.84% and a net margin of 6.49%. The firm's quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.87 EPS. As a group, research analysts expect that PPG Industries will post 7.95 EPS for the current year.

Institutional Investors Weigh In On PPG Industries

A number of large investors have recently made changes to their positions in the company. Park Square Financial Group LLC purchased a new position in shares of PPG Industries in the fourth quarter worth approximately $26,000. Cheviot Value Management LLC purchased a new position in shares of PPG Industries during the 1st quarter worth $26,000. CVA Family Office LLC grew its position in shares of PPG Industries by 70.6% during the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock valued at $30,000 after acquiring an additional 113 shares during the period. Headlands Technologies LLC bought a new stake in shares of PPG Industries during the 1st quarter valued at $30,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of PPG Industries in the 4th quarter worth $36,000. 81.86% of the stock is currently owned by institutional investors.

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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