Deutsche Bank Aktiengesellschaft Issues Pessimistic Forecast for PPG Industries (NYSE:PPG) Stock Price

PPG Industries (NYSE:PPG) had its price target lowered by stock analysts at Deutsche Bank Aktiengesellschaft from $150.00 to $145.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the specialty chemicals company’s stock. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential upside of 19.59% from the company’s previous close.

Several other brokerages also recently issued reports on PPG. Mizuho reduced their price target on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. StockNews.com upgraded shares of PPG Industries from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 12th. Royal Bank of Canada dropped their price objective on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 22nd. BMO Capital Markets reissued an “outperform” rating and issued a $155.00 target price (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. decreased their price target on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, PPG Industries presently has an average rating of “Moderate Buy” and a consensus target price of $149.29.

PPG Industries Price Performance

Shares of PPG Industries stock opened at $121.25 on Thursday. PPG Industries has a 1-year low of $118.07 and a 1-year high of $150.82. The firm’s 50-day moving average price is $125.30 and its two-hundred day moving average price is $126.37. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $28.13 billion, a price-to-earnings ratio of 19.22, a P/E/G ratio of 1.90 and a beta of 1.24.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The business had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.07 earnings per share. On average, equities analysts predict that PPG Industries will post 8.18 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the sale, the vice president now owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Insight Folios Inc grew its holdings in shares of PPG Industries by 3.8% in the 3rd quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock valued at $294,000 after acquiring an additional 81 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in PPG Industries by 0.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company’s stock valued at $2,549,000 after purchasing an additional 82 shares in the last quarter. Klingman & Associates LLC increased its position in shares of PPG Industries by 2.6% during the 2nd quarter. Klingman & Associates LLC now owns 3,326 shares of the specialty chemicals company’s stock worth $419,000 after purchasing an additional 83 shares during the last quarter. Bradley Foster & Sargent Inc. CT raised its stake in shares of PPG Industries by 1.7% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 5,310 shares of the specialty chemicals company’s stock worth $669,000 after purchasing an additional 90 shares in the last quarter. Finally, Alpha DNA Investment Management LLC boosted its holdings in shares of PPG Industries by 1.1% in the 3rd quarter. Alpha DNA Investment Management LLC now owns 8,344 shares of the specialty chemicals company’s stock valued at $1,105,000 after buying an additional 92 shares during the last quarter. 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.