PPG Industries (NYSE:PPG) Stock Price Expected to Rise, Citigroup Analyst Says

PPG Industries (NYSE:PPG) had its target price lifted by analysts at Citigroup from $116.00 to $120.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the specialty chemicals company’s stock. Citigroup’s price objective suggests a potential upside of 15.88% from the company’s previous close.

A number of other brokerages have also commented on PPG. Berenberg Bank lowered their price objective on PPG Industries from $131.00 to $110.00 and set a “hold” rating for the company in a research report on Thursday, December 4th. Sanford C. Bernstein lowered their price target on shares of PPG Industries from $129.00 to $123.00 and set an “outperform” rating for the company in a research report on Monday, November 24th. Zacks Research lowered shares of PPG Industries from a “hold” rating to a “strong sell” rating in a report on Monday, November 10th. Bank of America reduced their price target on PPG Industries from $131.00 to $129.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Finally, UBS Group dropped their price objective on PPG Industries from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, PPG Industries presently has a consensus rating of “Hold” and an average price target of $122.54.

PPG Industries Price Performance

PPG traded down $0.16 during trading on Thursday, hitting $103.56. The company’s stock had a trading volume of 723,743 shares, compared to its average volume of 2,002,173. The firm’s 50 day moving average price is $99.57 and its two-hundred day moving average price is $106.87. The company has a quick ratio of 1.08, a current ratio of 1.47 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $23.24 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 2.85 and a beta of 1.16. PPG Industries has a 12 month low of $90.24 and a 12 month high of $124.74.

PPG Industries (NYSE:PPG) last announced its earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.04. PPG Industries had a net margin of 6.35% and a return on equity of 23.61%. The company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same period in the previous year, the firm posted $2.13 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. Sell-side analysts forecast that PPG Industries will post 7.95 earnings per share for the current fiscal year.

Institutional Trading of PPG Industries

Several hedge funds and other institutional investors have recently modified their holdings of the company. Avior Wealth Management LLC increased its position in PPG Industries by 8,828.7% during the 2nd quarter. Avior Wealth Management LLC now owns 8,393 shares of the specialty chemicals company’s stock worth $955,000 after buying an additional 8,299 shares during the period. Walnut Level Capital LLC grew its position in shares of PPG Industries by 46.8% during the 2nd quarter. Walnut Level Capital LLC now owns 62,754 shares of the specialty chemicals company’s stock worth $7,138,000 after purchasing an additional 20,000 shares in the last quarter. Jump Financial LLC grew its position in PPG Industries by 1,478.5% during the first quarter. Jump Financial LLC now owns 88,587 shares of the specialty chemicals company’s stock worth $9,687,000 after buying an additional 82,975 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in PPG Industries in the 1st quarter valued at $884,000. Finally, Mather Group LLC. lifted its position in shares of PPG Industries by 2.9% during the 2nd quarter. Mather Group LLC. now owns 125,616 shares of the specialty chemicals company’s stock valued at $14,289,000 after acquiring an additional 3,551 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Company Profile

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.