Royal Bank Of Canada Cuts PPG Industries (NYSE:PPG) Price Target to $122.00

Key Points

• Royal Bank of Canada lowered PPG Industries’ price target from $129 to $122 while maintaining a “sector perform” rating, implying 8.85% potential upside from the stock’s $112.08 price.
• Analyst sentiment remains cautious: PPG has an average “Hold” rating and a consensus price target of $125.67, with seven Buy ratings and ten Holds.
• PPG slightly missed quarterly EPS expectations, reporting $2.23 versus the $2.25 consensus, although revenue rose 7.2% year over year to $4.50 billion. Institutional investors own 81.86% of the company.

PPG Industries (NYSE:PPG - Get Free Report) had its price target lowered by research analysts at Royal Bank Of Canada from $129.00 to $122.00 in a report issued on Thursday,Benzinga reports. The firm presently has a "sector perform" rating on the specialty chemicals company's stock. Royal Bank Of Canada's target price suggests a potential upside of 8.85% from the company's current price.

Several other brokerages have also recently commented on PPG. BMO Capital Markets lowered their price target on shares of PPG Industries from $140.00 to $138.00 and set an "outperform" rating for the company in a research report on Monday, July 6th. BNP Paribas Exane upped their target price on shares of PPG Industries from $115.00 to $116.00 in a research report on Thursday, April 30th. Wells Fargo & Company cut their price target on PPG Industries from $135.00 to $130.00 and set an "overweight" rating on the stock in a research note on Friday, April 10th. The Goldman Sachs Group reduced their price target on PPG Industries from $134.00 to $130.00 in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. dropped their price objective on PPG Industries from $126.00 to $125.00 in a report on Thursday, April 30th. Seven research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, PPG Industries presently has an average rating of "Hold" and a consensus target price of $125.67.

PPG Industries Trading Up 0.2%

PPG traded up $0.25 during mid-day trading on Thursday, reaching $112.08. The stock had a trading volume of 1,298,603 shares, compared to its average volume of 2,109,924. The firm's fifty day simple moving average is $116.58 and its two-hundred day simple moving average is $113.60. The stock has a market capitalization of $24.98 billion, a P/E ratio of 16.07, a P/E/G ratio of 1.75 and a beta of 1.05. PPG Industries has a 52 week low of $93.39 and a 52 week high of $133.43. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.17 and a current ratio of 1.61.

PPG Industries (NYSE:PPG - Get Free Report) last released its earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share for the quarter, missing analysts' consensus estimates of $2.25 by ($0.02). The firm had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.37 billion. PPG Industries had a return on equity of 21.39% and a net margin of 9.57%.The company's revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.22 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, equities analysts predict that PPG Industries will post 7.93 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Pzena Investment Management LLC lifted its position in PPG Industries by 306.2% in the 4th quarter. Pzena Investment Management LLC now owns 7,098,767 shares of the specialty chemicals company's stock valued at $727,340,000 after acquiring an additional 5,351,103 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of PPG Industries by 48.9% in the 4th quarter. Franklin Resources Inc. now owns 6,990,595 shares of the specialty chemicals company's stock valued at $716,256,000 after purchasing an additional 2,295,118 shares during the period. Norges Bank acquired a new stake in shares of PPG Industries in the 4th quarter valued at about $209,355,000. First Trust Advisors LP lifted its holdings in shares of PPG Industries by 321.4% in the first quarter. First Trust Advisors LP now owns 2,287,261 shares of the specialty chemicals company's stock valued at $244,462,000 after purchasing an additional 1,744,528 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of PPG Industries by 85.6% during the first quarter. Bank of New York Mellon Corp now owns 2,507,399 shares of the specialty chemicals company's stock worth $267,991,000 after buying an additional 1,156,078 shares during the period. Institutional investors own 81.86% of the company's stock.

About PPG Industries

PPG Industries is a global supplier of paints, coatings and specialty materials that serves industrial, transportation, consumer and construction markets. Founded in 1883 as the Pittsburgh Plate Glass Company, PPG has evolved from its origins in glass manufacturing into a diversified coatings and materials company headquartered in Pittsburgh, Pennsylvania. The company develops and manufactures a broad array of products used to protect and enhance surfaces, from consumer paints to highly engineered coatings for demanding industrial applications.

PPG's product portfolio includes architectural and decorative paints, automotive original equipment and refinish coatings, industrial coatings for machinery and equipment, protective and marine coatings, aerospace and defense coatings, and packaging coatings and materials.

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