PPG Industries (NYSE:PPG) Upgraded at JPMorgan Chase & Co.

Key Points

• PPG Industries has been upgraded by JPMorgan Chase & Co. from a "neutral" to an "overweight" rating, with a price target set at $112.00, indicating a potential upside of 12.69% from the stock's previous close.
• Recent reports from other research firms have shown mixed results, with Mizuho reducing their target price from $135.00 to $125.00, while Royal Bank Of Canada slightly raised theirs from $115.00 to $117.00.
• Currently, PPG Industries has an average rating of "Moderate Buy" and a consensus price target of $127.73, with significant institutional investment holding over 81% of the stock.

PPG Industries (NYSE:PPG - Get Free Report) was upgraded by research analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a report released on Thursday,Benzinga reports. The brokerage currently has a $112.00 price target on the specialty chemicals company's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 12.69% from the stock's previous close.

Several other research firms have also recently issued reports on PPG. Mizuho decreased their target price on shares of PPG Industries from $135.00 to $125.00 and set an "outperform" rating for the company in a research note on Friday, October 3rd. Royal Bank Of Canada upped their price objective on shares of PPG Industries from $115.00 to $117.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. Bank of America reduced their price objective on shares of PPG Industries from $131.00 to $129.00 and set a "neutral" rating for the company in a research report on Tuesday. Weiss Ratings restated a "hold (c)" rating on shares of PPG Industries in a research report on Wednesday, October 8th. Finally, Citigroup reduced their price objective 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, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $127.73.

PPG Industries Stock Down 1.1%

PPG stock opened at $99.39 on Thursday. The firm's fifty day simple moving average is $107.70 and its 200-day simple moving average is $108.87. The company has a market capitalization of $22.43 billion, a P/E ratio of 22.54, a price-to-earnings-growth ratio of 2.09 and a beta of 1.16. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.42 and a quick ratio of 1.04. PPG Industries has a 12 month low of $90.24 and a 12 month high of $132.18.

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 (EPS) for the quarter, meeting the consensus estimate of $2.22. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The firm had revenue of $4.20 billion during the quarter, compared to analysts' expectations of $4.16 billion. During the same period in the previous year, the business posted $2.50 EPS. The business's revenue was down .9% compared to the same quarter last year. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. As a group, equities research analysts forecast that PPG Industries will post 7.95 earnings per share for the current year.

Institutional Investors Weigh In On PPG Industries

Several hedge funds and other institutional investors have recently bought and sold shares of PPG. Norges Bank acquired a new stake in PPG Industries during the second quarter worth about $362,412,000. Price T Rowe Associates Inc. MD increased its position in PPG Industries by 58.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,797,682 shares of the specialty chemicals company's stock worth $524,627,000 after purchasing an additional 1,766,518 shares during the last quarter. Holocene Advisors LP increased its position in PPG Industries by 342.8% during the second quarter. Holocene Advisors LP now owns 1,688,870 shares of the specialty chemicals company's stock worth $192,109,000 after purchasing an additional 1,307,468 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in PPG Industries during the first quarter worth about $127,152,000. Finally, First Eagle Investment Management LLC boosted its stake in PPG Industries by 21.2% during the second quarter. First Eagle Investment Management LLC now owns 5,560,280 shares of the specialty chemicals company's stock worth $632,482,000 after buying an additional 971,799 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.

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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