PPG Industries (NYSE:PPG) Stock Gets Price Target Boost from JPMorgan Chase & Co.

PPG Industries (NYSE:PPG) had its price objective upped by equities researchers at JPMorgan Chase & Co. from $125.00 to $130.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 8.22% from the stock’s previous close.

A number of other research firms have also weighed in on PPG. Bank of America raised 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, July 17th. Citigroup lifted their target price on PPG Industries from $118.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday. Royal Bank Of Canada boosted their price target on PPG Industries from $115.00 to $123.00 and gave the stock a “sector perform” rating in a report on Thursday. Barclays increased their price objective on shares of PPG Industries from $136.00 to $137.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Wall Street Zen cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Nine equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $128.29.

PPG Industries Price Performance

Shares of PPG stock traded up $1.69 on Thursday, hitting $120.12. 2,161,958 shares of the stock traded hands, compared to its average volume of 1,987,109. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.58 and a quick ratio of 1.15. PPG Industries has a 52 week low of $93.39 and a 52 week high of $133.43. The firm has a 50 day simple moving average of $108.51 and a two-hundred day simple moving average of $112.35. The firm has a market cap of $26.70 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 2.04 and a beta of 1.06.

PPG Industries (NYSE:PPG) last issued its earnings results on Tuesday, October 27th. The specialty chemicals company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.13. PPG Industries had a net margin of 9.57% and a return on equity of 21.07%. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the prior year, the firm posted $2.13 EPS. PPG Industries’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, equities research analysts predict that PPG Industries will post 7.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PPG Industries

Several large investors have recently bought and sold shares of the business. Greenleaf Trust boosted its stake in PPG Industries by 30.6% in the third quarter. Greenleaf Trust now owns 3,444 shares of the specialty chemicals company’s stock valued at $359,000 after acquiring an additional 807 shares in the last quarter. Columbia Bank grew its holdings in PPG Industries by 8.3% in the third quarter. Columbia Bank now owns 10,443 shares of the specialty chemicals company’s stock worth $1,090,000 after purchasing an additional 798 shares during the last quarter. Hoey Investments Inc. acquired a new position in shares of PPG Industries during the third quarter worth $42,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of PPG Industries during the third quarter worth $8,067,000. Finally, Vise Technologies Inc. lifted its holdings in shares of PPG Industries by 38.0% during the 3rd quarter. Vise Technologies Inc. now owns 5,009 shares of the specialty chemicals company’s stock valued at $523,000 after purchasing an additional 1,379 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.

More PPG Industries News

Here are the key news stories impacting PPG Industries this week:

• Positive Sentiment: Q3 results exceeded expectations: PPG reported adjusted earnings of $2.25 per share, above estimates of roughly $2.12-$2.13, while revenue reached $4.35 billion versus the $4.28 billion consensus. Earnings were supported by aerospace demand, higher prices and stronger volumes. PPG Q3 Earnings Beat Estimates, Revenues Up Year Over Year on Aerospace Strength
• Positive Sentiment: Guidance improved: Management projected full-year adjusted EPS of $7.90 to $8.10 and raised the midpoint of its outlook. PPG also expects fourth-quarter EBITDA margins to improve by as much as 100 basis points, reinforcing expectations for continued profitability gains. PPG Outlines Full-Year Adjusted EPS Guidance
• Positive Sentiment: Analysts raised valuation targets: Citigroup lifted its target to $130, UBS to $123, Barclays to $137, Wells Fargo to $135, KeyBanc to $131 and Bernstein to $137. Barclays and Wells Fargo maintain “overweight” ratings, indicating meaningful potential upside from recent trading levels. Citigroup PPG Analyst Rating
• Neutral Sentiment: Citigroup and UBS retained “neutral” ratings despite their target increases, suggesting analysts see improved fundamentals but remain cautious about the extent of further gains. UBS PPG Analyst Rating
• Neutral Sentiment: Shares recently moved above their 200-day moving average, a potentially favorable technical signal, though one report questioned whether the move could also present a selling opportunity. PPG Shares Cross Above 200-Day Moving Average

About PPG Industries

PPG Industries, Inc is a global manufacturer of paints, coatings and specialty materials. The company develops products designed to protect, decorate and improve the performance of surfaces and components used in transportation, construction, manufacturing and consumer products.

Its product portfolio includes automotive and commercial vehicle coatings, aerospace coatings, industrial and protective coatings, architectural paints, packaging coatings, and coatings used in marine and other specialty applications.