PPG Industries (NYSE:PPG) Given New $140.00 Price Target at Deutsche Bank Aktiengesellschaft

PPG Industries (NYSE:PPG) had its price target raised by research analysts at Deutsche Bank Aktiengesellschaft from $125.00 to $140.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the specialty chemicals company’s stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 22.19% from the stock’s current price.

A number of other research analysts have also recently weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of PPG Industries from $112.00 to $113.00 and gave the company a “sector perform” rating in a report on Friday, May 2nd. StockNews.com cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Barclays restated an “equal weight” rating on shares of PPG Industries in a research report on Monday, February 3rd. UBS Group raised their price target on shares of PPG Industries from $110.00 to $111.00 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. Finally, Mizuho reduced their price objective on PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, PPG Industries has an average rating of “Moderate Buy” and an average target price of $128.42.

PPG Industries Price Performance

PPG traded up $5.82 during trading on Monday, hitting $114.58. 406,084 shares of the company traded hands, compared to its average volume of 1,796,274. PPG Industries has a 1 year low of $90.24 and a 1 year high of $137.24. The company has a market cap of $26.01 billion, a PE ratio of 24.19, a P/E/G ratio of 2.19 and a beta of 1.20. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The stock’s 50-day simple moving average is $106.58 and its two-hundred day simple moving average is $115.51.

PPG Industries (NYSE:PPG) last issued its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.10. PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. The company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.67 billion. During the same quarter last year, the business posted $1.87 EPS. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. As a group, sell-side analysts anticipate that PPG Industries will post 7.95 earnings per share for the current fiscal year.

Insider Buying and Selling at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the sale, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at $4,240,835.55. This represents a 11.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PPG Industries

A number of large investors have recently modified their holdings of the company. Park Square Financial Group LLC purchased a new position in PPG Industries during the 4th quarter worth approximately $26,000. Cheviot Value Management LLC purchased a new stake in PPG Industries during the 1st quarter valued at approximately $26,000. Headlands Technologies LLC purchased a new stake in PPG Industries during the 1st quarter valued at approximately $30,000. CVA Family Office LLC grew its stake in shares of PPG Industries by 70.6% in the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company’s stock valued at $30,000 after purchasing an additional 113 shares during the last quarter. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of PPG Industries during the fourth quarter worth approximately $36,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

About PPG Industries

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.