Mizuho Cuts PPG Industries (NYSE:PPG) Price Target to $140.00

PPG Industries (NYSE:PPG) had its price objective dropped by equities research analysts at Mizuho from $150.00 to $140.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the specialty chemicals company’s stock. Mizuho’s price objective suggests a potential upside of 24.39% from the company’s current price.

A number of other research analysts also recently commented on the stock. JPMorgan Chase & Co. cut their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. KeyCorp lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Barclays lowered their target price on PPG Industries from $144.00 to $125.00 and set an “equal weight” rating for the company in a report on Monday. BMO Capital Markets reissued an “outperform” rating and issued a $155.00 price target (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $142.25.

PPG Industries Trading Down 2.5 %

Shares of PPG Industries stock traded down $2.84 on Monday, hitting $112.55. 1,331,080 shares of the company traded hands, compared to its average volume of 2,146,030. PPG Industries has a 52 week low of $110.20 and a 52 week high of $145.60. The company has a market cap of $26.11 billion, a PE ratio of 23.77, a PEG ratio of 1.99 and a beta of 1.23. The stock’s 50 day moving average price is $121.11 and its 200-day moving average price is $124.33. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. Equities research analysts predict that PPG Industries will post 7.9 EPS for the current year.

Institutional Investors Weigh In On PPG Industries

Large investors have recently made changes to their positions in the stock. Legend Financial Advisors Inc. acquired a new position in PPG Industries in the 4th quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. increased its stake in shares of PPG Industries by 465.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 200 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of PPG Industries during the third quarter worth $34,000. Hara Capital LLC acquired a new position in PPG Industries during the third quarter valued at $40,000. Finally, Albion Financial Group UT purchased a new stake in PPG Industries in the fourth quarter valued at $38,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

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.