PPG Industries, Inc. (PPG) Receives $121.93 Average Price Target from Brokerages
PPG Industries, Inc. (NYSE:PPG) has earned an average rating of “Hold” from the twenty ratings firms that are covering the stock, MarketBeat Ratings reports. Fourteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $121.93.
PPG has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded PPG Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. JPMorgan Chase & Co. downgraded PPG Industries from an “overweight” rating to a “neutral” rating and set a $113.00 price objective on the stock. in a research report on Friday, July 27th. They noted that the move was a valuation call. Credit Suisse Group lowered their price objective on PPG Industries from $122.00 to $119.00 and set an “outperform” rating on the stock in a research report on Friday, July 20th. Jefferies Financial Group reiterated a “hold” rating on shares of PPG Industries in a research report on Thursday, May 31st. Finally, Citigroup lowered their price target on PPG Industries from $123.00 to $113.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 11th.
Shares of PPG stock traded down $0.80 on Friday, reaching $111.89. The company’s stock had a trading volume of 30,667 shares, compared to its average volume of 1,256,735. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.22 and a current ratio of 1.70. PPG Industries has a 12-month low of $100.36 and a 12-month high of $122.07. The company has a market capitalization of $28.07 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 2.24 and a beta of 1.52.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 12th. Shareholders of record on Friday, August 10th were given a dividend of $0.48 per share. This is an increase from PPG Industries’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, August 9th. This represents a $1.92 dividend on an annualized basis and a yield of 1.72%. PPG Industries’s dividend payout ratio (DPR) is presently 32.71%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PPG. McKinley Carter Wealth Services Inc. purchased a new stake in PPG Industries during the first quarter valued at about $104,000. Cornerstone Wealth Management LLC purchased a new position in shares of PPG Industries in the second quarter worth about $105,000. Archford Capital Strategies LLC purchased a new position in shares of PPG Industries in the first quarter worth about $109,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of PPG Industries in the first quarter worth about $112,000. Finally, Summit Trail Advisors LLC increased its holdings in shares of PPG Industries by 11,166.0% in the first quarter. Summit Trail Advisors LLC now owns 118,631 shares of the specialty chemicals company’s stock worth $119,000 after buying an additional 117,578 shares during the period. Institutional investors and hedge funds own 76.60% of the company’s stock.
PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.
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