Wall Street Zen Upgrades PPG Industries (NYSE:PPG) to “Buy”

PPG Industries (NYSE:PPG) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

PPG has been the topic of several other research reports. UBS Group upped their target price on shares of PPG Industries from $110.00 to $116.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. BNP Paribas Exane boosted their price target on shares of PPG Industries from $115.00 to $116.00 in a research report on Thursday, April 30th. Bank of America raised shares of PPG Industries from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $127.00 to $134.00 in a research note on Friday. Citigroup boosted their target price on PPG Industries from $114.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, June 24th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on PPG Industries from $120.00 to $130.00 in a research report on Friday, March 27th. Seven equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $126.13.

PPG Industries Price Performance

PPG Industries stock opened at $117.39 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.61 and a quick ratio of 1.17. The company has a market capitalization of $26.17 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 1.71 and a beta of 1.05. PPG Industries has a one year low of $93.39 and a one year high of $133.43. The business has a 50 day simple moving average of $114.79 and a 200 day simple moving average of $112.93.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.05. PPG Industries had a return on equity of 21.68% and a net margin of 9.83%.The firm had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.85 billion. During the same period in the prior year, the business posted $1.72 earnings per share. The business’s revenue was up 6.7% compared to the same quarter last year. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, sell-side analysts forecast that PPG Industries will post 7.94 EPS for the current fiscal year.

Institutional Investors Weigh In On PPG Industries

Institutional investors and hedge funds have recently made changes to their positions in the company. Pzena Investment Management LLC grew its holdings in PPG Industries by 306.2% during 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 acquiring an additional 5,351,103 shares during the period. Franklin Resources Inc. lifted its stake in shares of PPG Industries by 48.9% in 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 during the period. Norges Bank bought a new position in shares of PPG Industries in the 4th quarter worth $209,355,000. First Trust Advisors LP boosted its position in shares of PPG Industries by 321.4% in the 1st quarter. First Trust Advisors LP now owns 2,287,261 shares of the specialty chemicals company’s stock worth $244,462,000 after purchasing an additional 1,744,528 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of PPG Industries by 85.6% during the first quarter. Bank of New York Mellon Corp now owns 2,507,399 shares of the specialty chemicals company’s stock worth $267,991,000 after purchasing an additional 1,156,078 shares during the period. Institutional investors own 81.86% of the company’s stock.

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.