Analysts Set PPG Industries, Inc. (PPG) PT at $111.73
Shares of PPG Industries, Inc. (NYSE:PPG) have been given a consensus recommendation of “Hold” by the nineteen analysts that are currently covering the firm. Eleven research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $112.83.
A number of research analysts have recently commented on PPG shares. TheStreet lowered PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, November 21st. Bank of America Corp started coverage on PPG Industries in a report on Monday, December 5th. They set a “buy” rating on the stock. Zacks Investment Research raised PPG Industries from a “sell” rating to a “hold” rating in a report on Monday, December 12th. Royal Bank of Canada lowered PPG Industries from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $105.00 to $101.00 in a report on Tuesday, December 13th. They noted that the move was a valuation call. Finally, Citigroup Inc lowered PPG Industries from a “buy” rating to a “neutral” rating in a report on Monday, January 9th.
Shares of PPG Industries (NYSE:PPG) opened at 105.57 on Thursday. The company has a market capitalization of $27.14 billion, a P/E ratio of 32.18 and a beta of 1.39. PPG Industries has a one year low of $89.64 and a one year high of $117.00. The stock has a 50 day moving average price of $101.99 and a 200-day moving average price of $98.70.
PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, January 19th. The company reported $1.19 EPS for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.01. The business had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.55 billion. PPG Industries had a return on equity of 29.94% and a net margin of 5.84%. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.16 EPS. Equities research analysts predict that PPG Industries will post $6.23 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 17th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, February 15th. This represents a $1.60 annualized dividend and a yield of 1.52%. PPG Industries’s payout ratio is 48.93%.
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A number of hedge funds have recently made changes to their positions in PPG. Dodge & Cox acquired a new stake in shares of PPG Industries during the fourth quarter valued at $1,706,000. Aristotle Capital Management LLC increased its stake in shares of PPG Industries by 2.4% in the fourth quarter. Aristotle Capital Management LLC now owns 2,178,942 shares of the company’s stock valued at $206,477,000 after buying an additional 50,877 shares during the last quarter. Norges Bank acquired a new stake in shares of PPG Industries during the fourth quarter valued at $181,554,000. Numeric Investors LLC acquired a new stake in shares of PPG Industries during the fourth quarter valued at $351,000. Finally, Luminus Management LLC acquired a new stake in shares of PPG Industries during the fourth quarter valued at $9,879,000. Hedge funds and other institutional investors own 71.49% of the company’s stock.
PPG Industries Company Profile
PPG Industries, Inc (PPG) manufactures and distributes a range of coatings, specialty materials and glass products. PPG operates through three business segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment consists of the refinish, aerospace, protective and marine, architectural-Americas and Asia Pacific, and architectural-EMEA coatings businesses.
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