Citigroup Issues Positive Forecast for PPG Industries (NYSE:PPG) Stock Price

PPG Industries (NYSE:PPG) had its price objective hoisted by stock analysts at Citigroup from $114.00 to $125.00 in a note issued to investors on Wednesday,MarketScreener reports. The brokerage currently has a “neutral” rating on the specialty chemicals company’s stock. Citigroup’s price target indicates a potential upside of 3.84% from the company’s current price.

Several other analysts have also recently issued reports on PPG. UBS Group increased their target price on PPG Industries from $110.00 to $116.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. BMO Capital Markets upped their price objective on PPG Industries from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday, June 15th. Mizuho raised their price objective on PPG Industries from $115.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $119.00 target price on shares of PPG Industries in a research note on Wednesday, June 10th. Finally, The Goldman Sachs Group reduced their target price on shares of PPG Industries from $134.00 to $130.00 in a report on Friday, May 1st. Six analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $123.73.

PPG Industries Stock Up 2.3%

Shares of PPG traded up $2.68 during mid-day trading on Wednesday, hitting $120.38. The company’s stock had a trading volume of 46,028 shares, compared to its average volume of 2,113,023. The company has a current ratio of 1.61, a quick ratio of 1.17 and a debt-to-equity ratio of 0.78. The company’s 50-day moving average is $111.34 and its 200-day moving average is $110.77. PPG Industries has a 52-week low of $93.39 and a 52-week high of $133.43. The firm has a market capitalization of $26.83 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 1.74 and a beta of 1.06.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.05. The company had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.85 billion. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. PPG Industries’s revenue was up 6.7% compared to the same quarter last year. During the same period last year, the company posted $1.72 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, equities research analysts forecast that PPG Industries will post 7.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PPG. Pzena Investment Management LLC boosted its stake in PPG Industries by 306.2% in the 4th quarter. Pzena Investment Management LLC now owns 7,098,767 shares of the specialty chemicals company’s stock worth $727,340,000 after purchasing an additional 5,351,103 shares in the last quarter. Wellington Management Group LLP increased its stake in PPG Industries by 19.9% during the 3rd quarter. Wellington Management Group LLP now owns 15,159,770 shares of the specialty chemicals company’s stock valued at $1,593,443,000 after purchasing an additional 2,521,004 shares in the last quarter. Franklin Resources Inc. increased its stake in PPG Industries by 48.9% during the 4th quarter. Franklin Resources Inc. now owns 6,990,595 shares of the specialty chemicals company’s stock valued at $716,256,000 after purchasing an additional 2,295,118 shares in the last quarter. Norges Bank purchased a new position in shares of PPG Industries in the fourth quarter worth $209,355,000. Finally, First Trust Advisors LP raised its holdings in shares of PPG Industries by 321.4% in the first quarter. First Trust Advisors LP now owns 2,287,261 shares of the specialty chemicals company’s stock worth $244,462,000 after buying an additional 1,744,528 shares during the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Company Profile

PPG Industries is a global supplier of paints, coatings and specialty materials that serves industrial, transportation, consumer and construction markets. Founded in 1883 as the Pittsburgh Plate Glass Company, PPG has evolved from its origins in glass manufacturing into a diversified coatings and materials company headquartered in Pittsburgh, Pennsylvania. The company develops and manufactures a broad array of products used to protect and enhance surfaces, from consumer paints to highly engineered coatings for demanding industrial applications.

PPG’s product portfolio includes architectural and decorative paints, automotive original equipment and refinish coatings, industrial coatings for machinery and equipment, protective and marine coatings, aerospace and defense coatings, and packaging coatings and materials.