PPG Industries (NYSE:PPG) Price Target Lowered to $136.00 at Royal Bank of Canada

PPG Industries (NYSE:PPG) had its price target dropped by investment analysts at Royal Bank of Canada from $138.00 to $136.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “sector perform” rating on the specialty chemicals company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 6.44% from the company’s current price.

Several other research firms have also weighed in on PPG. Bank of America reduced their price objective on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Barclays reduced their price target on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, July 22nd. JPMorgan Chase & Co. lowered their price objective on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday. Citigroup reduced their target price on PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Finally, BMO Capital Markets restated an “outperform” rating and issued a $155.00 price target (down from $160.00) on shares of PPG Industries in a report on Monday. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, PPG Industries currently has an average rating of “Moderate Buy” and an average price target of $149.93.

PPG Industries Stock Performance

Shares of PPG Industries stock opened at $127.77 on Tuesday. The firm has a fifty day moving average of $127.41 and a two-hundred day moving average of $128.93. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.05 and a current ratio of 1.49. The stock has a market capitalization of $29.96 billion, a price-to-earnings ratio of 21.58, a PEG ratio of 1.73 and a beta of 1.26. PPG Industries has a 52 week low of $118.07 and a 52 week high of $151.16.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The company had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the prior year, the company posted $2.07 EPS. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, equities research analysts predict that PPG Industries will post 8.24 EPS for the current year.

Institutional Trading of PPG Industries

Institutional investors have recently made changes to their positions in the business. Stanley Laman Group Ltd. acquired a new stake in PPG Industries in the 3rd quarter valued at $206,000. Copeland Capital Management LLC bought a new position in shares of PPG Industries in the 3rd quarter valued at about $124,000. Allspring Global Investments Holdings LLC grew its holdings in shares of PPG Industries by 15.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,322 shares of the specialty chemicals company’s stock valued at $2,030,000 after acquiring an additional 2,047 shares in the last quarter. Vest Financial LLC increased its position in shares of PPG Industries by 16.1% in the third quarter. Vest Financial LLC now owns 392,155 shares of the specialty chemicals company’s stock valued at $51,945,000 after acquiring an additional 54,429 shares during the last quarter. Finally, First Bancorp Inc ME bought a new stake in PPG Industries during the third quarter worth about $256,000. Institutional investors own 81.86% of the company’s stock.

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.