PPG Industries, Inc. (NYSE:PPG) received a $113.00 price target from analysts at Credit Suisse Group in a report issued on Sunday, July 23rd. The brokerage presently has a “buy” rating on the specialty chemicals company’s stock. Credit Suisse Group’s price target would suggest a potential upside of 12.18% from the company’s current price.
A number of other equities analysts have also recently commented on the company. Deutsche Bank AG reaffirmed a “hold” rating and issued a $110.00 price target (up from $102.00) on shares of PPG Industries in a research note on Sunday, April 23rd. Citigroup Inc. reiterated a “market perform” rating on shares of PPG Industries in a research report on Friday, April 14th. Jefferies Group LLC reiterated a “buy” rating and issued a $120.00 price objective (up from $113.00) on shares of PPG Industries in a research report on Tuesday, April 18th. Barclays PLC lifted their price objective on PPG Industries from $110.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Monday, April 24th. Finally, Argus upgraded PPG Industries from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $110.61 to $136.00 in a research report on Wednesday, July 5th. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $114.50.
Shares of PPG Industries (PPG) traded down 0.59% on Friday, reaching $100.73. The company’s stock had a trading volume of 1,536,922 shares. PPG Industries has a 12 month low of $89.64 and a 12 month high of $113.67. The firm’s 50-day moving average price is $108.24 and its 200-day moving average price is $106.17. The stock has a market cap of $25.84 billion, a P/E ratio of 26.50 and a beta of 1.54.
PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, July 20th. The specialty chemicals company reported $1.83 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.83. The business had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.92 billion. PPG Industries had a return on equity of 29.47% and a net margin of 6.79%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.73 EPS. On average, analysts forecast that PPG Industries will post $6.11 earnings per share for the current fiscal year.
TRADEMARK VIOLATION WARNING: “PPG Industries, Inc. (PPG) PT Set at $113.00 by Credit Suisse Group” was originally reported by Community Financial News and is the property of of Community Financial News. If you are reading this news story on another site, it was illegally stolen and republished in violation of United States and international trademark and copyright legislation. The original version of this news story can be read at https://www.com-unik.info/2017/08/12/ppg-industries-inc-ppg-pt-set-at-113-00-by-credit-suisse-group-updated-updated.html.
Hedge funds have recently modified their holdings of the company. Douglass Winthrop Advisors LLC bought a new stake in shares of PPG Industries during the first quarter worth approximately $704,000. Cable Hill Partners LLC boosted its stake in shares of PPG Industries by 8.5% in the first quarter. Cable Hill Partners LLC now owns 981 shares of the specialty chemicals company’s stock worth $103,000 after buying an additional 77 shares during the last quarter. New England Research & Management Inc. boosted its stake in shares of PPG Industries by 1.5% in the first quarter. New England Research & Management Inc. now owns 10,075 shares of the specialty chemicals company’s stock worth $1,059,000 after buying an additional 150 shares during the last quarter. Rathbone Brothers plc raised its position in PPG Industries by 19.0% in the first quarter. Rathbone Brothers plc now owns 52,663 shares of the specialty chemicals company’s stock worth $5,534,000 after buying an additional 8,407 shares during the period. Finally, Chevy Chase Trust Holdings Inc. raised its position in PPG Industries by 0.6% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 224,638 shares of the specialty chemicals company’s stock worth $23,605,000 after buying an additional 1,242 shares during the period. Institutional investors and hedge funds own 71.81% of the company’s stock.
PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has three segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.
What are top analysts saying about PPG Industries Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for PPG Industries Inc. and related companies.