Evercore ISI Issues Pessimistic Forecast for PPG Industries (NYSE:PPG) Stock Price

PPG Industries (NYSE:PPG) had its price target dropped by equities research analysts at Evercore ISI from $145.00 to $112.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “in-line” rating on the specialty chemicals company’s stock. Evercore ISI’s target price suggests a potential upside of 17.14% from the stock’s previous close.

PPG has been the topic of a number of other research reports. Citigroup dropped their price objective on shares of PPG Industries from $124.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, October 6th. Wells Fargo & Company dropped their price target on shares of PPG Industries from $132.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. JPMorgan Chase & Co. upgraded PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 price objective for the company in a research note on Thursday, October 16th. UBS Group decreased their target price on PPG Industries from $115.00 to $110.00 and set a “neutral” rating on the stock in a report on Thursday, October 30th. Finally, Royal Bank Of Canada boosted their price target on PPG Industries from $115.00 to $117.00 and gave the company a “sector perform” rating in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, PPG Industries currently has an average rating of “Moderate Buy” and an average price target of $123.18.

PPG Industries Stock Performance

PPG traded down $0.32 during midday trading on Tuesday, hitting $95.61. 115,396 shares of the company traded hands, compared to its average volume of 1,996,292. The company’s 50-day moving average is $103.71 and its 200 day moving average is $108.87. The company has a quick ratio of 1.04, a current ratio of 1.47 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $21.45 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 2.13 and a beta of 1.19. PPG Industries has a 52 week low of $90.24 and a 52 week high of $130.05.

PPG Industries (NYSE:PPG) last posted its earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 EPS 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 24.17%. The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the previous year, the firm posted $2.13 EPS. The firm’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. On average, research analysts expect that PPG Industries will post 7.95 EPS for the current year.

Hedge Funds Weigh In On PPG Industries

A number of hedge funds have recently made changes to their positions in PPG. Cookson Peirce & Co. Inc. lifted its holdings in PPG Industries by 1.9% in the first quarter. Cookson Peirce & Co. Inc. now owns 4,862 shares of the specialty chemicals company’s stock valued at $532,000 after buying an additional 89 shares during the period. Summit Financial LLC grew its stake in shares of PPG Industries by 1.3% during the first quarter. Summit Financial LLC now owns 7,246 shares of the specialty chemicals company’s stock worth $792,000 after purchasing an additional 90 shares during the period. Lazard Asset Management LLC increased its holdings in PPG Industries by 6.6% in the second quarter. Lazard Asset Management LLC now owns 1,576 shares of the specialty chemicals company’s stock valued at $179,000 after purchasing an additional 97 shares during the last quarter. Bell Investment Advisors Inc boosted its holdings in PPG Industries by 40.9% during the first quarter. Bell Investment Advisors Inc now owns 355 shares of the specialty chemicals company’s stock worth $39,000 after buying an additional 103 shares during the last quarter. Finally, G&S Capital LLC increased its stake in shares of PPG Industries by 1.9% in the 3rd quarter. G&S Capital LLC now owns 5,620 shares of the specialty chemicals company’s stock valued at $591,000 after acquiring an additional 104 shares during the last quarter. Institutional investors 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.