PPG Industries (NYSE:PPG) Given New $112.00 Price Target at BNP Paribas Exane

PPG Industries (NYSE:PPG) had its price objective decreased by analysts at BNP Paribas Exane from $113.00 to $112.00 in a report issued on Wednesday,MarketScreener reports. The brokerage presently has a “neutral” rating on the specialty chemicals company’s stock. BNP Paribas Exane’s target price suggests a potential upside of 1.83% from the stock’s previous close.

A number of other research firms have also recently weighed in on PPG. Wells Fargo & Company lowered 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. Sanford C. Bernstein lowered their target price on shares of PPG Industries from $129.00 to $123.00 and set an “outperform” rating on the stock in a research report on Monday, November 24th. Evercore ISI dropped their target price on shares of PPG Industries from $145.00 to $112.00 and set an “in-line” rating for the company in a report on Tuesday, November 11th. Weiss Ratings reissued a “hold (c-)” rating on shares of PPG Industries in a research note on Friday, October 31st. Finally, Mizuho dropped their price objective on PPG Industries from $135.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $120.86.

PPG Industries Stock Performance

NYSE:PPG traded up $1.42 during mid-day trading on Wednesday, reaching $109.99. The stock had a trading volume of 1,549,062 shares, compared to its average volume of 1,717,914. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.08 and a current ratio of 1.47. The business has a 50 day simple moving average of $101.28 and a 200 day simple moving average of $105.92. PPG Industries has a twelve month low of $90.24 and a twelve month high of $124.74. The firm has a market capitalization of $24.68 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 3.20 and a beta of 1.17.

PPG Industries (NYSE:PPG) last issued its earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.04. PPG Industries had a return on equity of 23.61% and a net margin of 6.35%.The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same period in the prior year, the business posted $2.13 EPS. The company’s revenue for the quarter 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, analysts expect that PPG Industries will post 7.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PPG Industries

Institutional investors and hedge funds have recently bought and sold shares of the stock. Walnut Level Capital LLC boosted its position in PPG Industries by 46.8% during the second quarter. Walnut Level Capital LLC now owns 62,754 shares of the specialty chemicals company’s stock worth $7,138,000 after acquiring an additional 20,000 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in shares of PPG Industries by 8,828.7% during the second quarter. Avior Wealth Management LLC now owns 8,393 shares of the specialty chemicals company’s stock worth $955,000 after purchasing an additional 8,299 shares during the last quarter. GAM Holding AG grew its position in shares of PPG Industries by 97.5% in the third quarter. GAM Holding AG now owns 21,281 shares of the specialty chemicals company’s stock valued at $2,237,000 after purchasing an additional 10,508 shares during the period. Mather Group LLC. increased its stake in PPG Industries by 2.9% in the second quarter. Mather Group LLC. now owns 125,616 shares of the specialty chemicals company’s stock valued at $14,289,000 after purchasing an additional 3,551 shares during the last quarter. Finally, Vest Financial LLC increased its stake in shares of PPG Industries by 17.4% during the 2nd quarter. Vest Financial LLC now owns 526,269 shares of the specialty chemicals company’s stock valued at $59,863,000 after acquiring an additional 78,022 shares during the last quarter. Hedge funds and other 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.