Wall Street Zen Upgrades PPG Industries (NYSE:PPG) to Buy

Key Points

• Wall Street Zen upgraded PPG Industries from hold to buy, adding to a mixed analyst picture that still leaves the stock at an overall Hold consensus rating.
• PPG recently reported better-than-expected quarterly results, with EPS of $1.83 versus estimates of $1.78 and revenue of $3.93 billion topping forecasts. The company also said revenue rose 6.7% year over year.
• The stock opened at $117.39 and trades below its 52-week high of $133.43; institutional investors continue to hold a large stake, owning 81.86% of shares.

PPG Industries (NYSE:PPG - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

PPG has been the subject of several other reports. Weiss Ratings raised shares of PPG Industries from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, June 17th. JPMorgan Chase & Co. dropped their target price on PPG Industries from $126.00 to $125.00 in a report on Thursday, April 30th. BMO Capital Markets cut their price target on PPG Industries from $140.00 to $138.00 and set an "outperform" rating on the stock in a research note on Monday, July 6th. The Goldman Sachs Group decreased their price target on PPG Industries from $134.00 to $130.00 in a report on Friday, May 1st. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on PPG Industries from $120.00 to $130.00 in a report on Friday, March 27th. Seven analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, PPG Industries presently has an average rating of "Hold" and a consensus target price of $126.13.

PPG Industries Stock Down 1.1%

Shares of NYSE:PPG opened at $117.39 on Friday. The firm's 50 day moving average price is $114.79 and its 200 day moving average price is $112.87. The stock has a market cap of $26.17 billion, a price-to-earnings ratio of 16.75, a price-to-earnings-growth ratio of 1.73 and a beta of 1.05. PPG Industries has a fifty-two week low of $93.39 and a fifty-two week high of $133.43. The company has a quick ratio of 1.17, a current ratio of 1.61 and a debt-to-equity ratio of 0.78.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.78 by $0.05. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. The company had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.85 billion. During the same quarter in the previous year, the firm earned $1.72 earnings per share. The firm's quarterly revenue was up 6.7% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, equities research analysts predict that PPG Industries will post 7.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PPG Industries

Several large investors have recently bought and sold shares of the stock. Dorato Capital Management purchased a new position in PPG Industries during the 4th quarter worth approximately $26,000. Resources Management Corp CT ADV lifted its stake in PPG Industries by 900.0% in the fourth quarter. Resources Management Corp CT ADV now owns 250 shares of the specialty chemicals company's stock valued at $26,000 after buying an additional 225 shares during the last quarter. Quarry LP purchased a new stake in PPG Industries in the third quarter valued at approximately $26,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of PPG Industries in the fourth quarter valued at approximately $30,000. Finally, Essential Partners LLC boosted its holdings in shares of PPG Industries by 59.3% in the first quarter. Essential Partners LLC now owns 301 shares of the specialty chemicals company's stock valued at $32,000 after acquiring an additional 112 shares during the period. Institutional investors and hedge funds own 81.86% of the company's stock.

PPG Industries Company Profile

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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