PPG Industries (NYSE:PPG) Price Target Lowered to $145.00 at JPMorgan Chase & Co.

PPG Industries (NYSE:PPG) had its price objective decreased by stock analysts at JPMorgan Chase & Co. from $155.00 to $145.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 10.50% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Royal Bank of Canada reduced their price objective on shares of PPG Industries from $140.00 to $139.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 23rd. Mizuho lowered their price objective on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday. BMO Capital Markets reduced their price objective on shares of PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. UBS Group lifted their target price on shares of PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Finally, Citigroup dropped their target price on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $150.57.

PPG Industries Trading Down 0.1 %

PPG Industries stock traded down $0.14 during trading hours on Friday, hitting $131.22. The stock had a trading volume of 402,758 shares, compared to its average volume of 1,592,825. The stock has a market cap of $30.77 billion, a price-to-earnings ratio of 22.17, a P/E/G ratio of 1.72 and a beta of 1.26. The company has a quick ratio of 1.05, a current ratio of 1.49 and a debt-to-equity ratio of 0.73. The business’s 50 day simple moving average is $126.97 and its 200-day simple moving average is $129.27. PPG Industries has a one year low of $118.07 and a one year high of $151.16.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (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 business had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter last year, the business earned $2.07 EPS. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities analysts predict that PPG Industries will post 8.24 EPS for the current fiscal year.

Institutional Trading of PPG Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in PPG Industries by 17.2% in the 1st quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock valued at $4,159,074,000 after acquiring an additional 4,222,402 shares in the last quarter. Dimensional Fund Advisors LP raised its position in PPG Industries by 20.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock valued at $276,576,000 after buying an additional 368,410 shares during the last quarter. Federated Hermes Inc. lifted its stake in PPG Industries by 91.0% during the 2nd quarter. Federated Hermes Inc. now owns 523,509 shares of the specialty chemicals company’s stock valued at $65,905,000 after acquiring an additional 249,406 shares in the last quarter. SG Americas Securities LLC boosted its holdings in PPG Industries by 549.0% during the 2nd quarter. SG Americas Securities LLC now owns 256,142 shares of the specialty chemicals company’s stock worth $32,246,000 after acquiring an additional 216,675 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in PPG Industries during the first quarter worth about $31,033,000. 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.