PPG Industries (NYSE:PPG) Downgraded to “Neutral” Rating by JPMorgan Chase & Co.

PPG Industries (NYSE:PPG) was downgraded by stock analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued on Wednesday,Briefing.com Automated Import reports. They presently have a $115.00 price objective on the specialty chemicals company’s stock, down from their prior price objective of $145.00. JPMorgan Chase & Co.‘s price target indicates a potential upside of 0.08% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Royal Bank of Canada lowered their price objective on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 4th. KeyCorp lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. BMO Capital Markets restated an “outperform” rating and issued a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft reduced their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, StockNews.com downgraded PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PPG Industries presently has an average rating of “Moderate Buy” and a consensus target price of $138.15.

PPG Industries Stock Performance

PPG opened at $114.91 on Wednesday. PPG Industries has a 52-week low of $110.20 and a 52-week high of $145.60. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The company has a market cap of $26.66 billion, a P/E ratio of 24.29, a price-to-earnings-growth ratio of 1.97 and a beta of 1.23. The firm’s 50-day moving average price is $119.80 and its 200-day moving average price is $123.73.

PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. As a group, equities analysts anticipate that PPG Industries will post 7.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Legend Financial Advisors Inc. acquired a new stake in shares of PPG Industries in the 4th quarter worth $27,000. Pin Oak Investment Advisors Inc. increased its stake in shares of PPG Industries by 465.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 200 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of PPG Industries in the 3rd quarter worth $34,000. Albion Financial Group UT acquired a new stake in shares of PPG Industries in the 4th quarter worth $38,000. Finally, Hara Capital LLC acquired a new stake in shares of PPG Industries in the 3rd quarter worth $40,000. 81.86% of the stock is owned by institutional investors and hedge funds.

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.