PPG Industries (NYSE:PPG) Price Target Lowered to $180.00 at Robert W. Baird

PPG Industries (NYSE:PPGGet Rating) had its price target dropped by stock analysts at Robert W. Baird from $200.00 to $180.00 in a report issued on Monday, The Fly reports. Robert W. Baird’s price target points to a potential upside of 35.49% from the stock’s previous close.

Several other research analysts have also weighed in on PPG. BMO Capital Markets lowered their price objective on PPG Industries from $199.00 to $181.00 and set an “outperform” rating for the company in a research report on Monday, January 24th. Mizuho cut their price target on PPG Industries from $187.00 to $182.00 and set a “buy” rating for the company in a research note on Monday, January 24th. Wells Fargo & Company cut their price target on PPG Industries from $170.00 to $140.00 and set an “equal weight” rating for the company in a research note on Monday, April 18th. Jefferies Financial Group cut their price target on PPG Industries from $170.00 to $130.00 and set a “hold” rating for the company in a research note on Wednesday, March 9th. Finally, Royal Bank of Canada cut their price target on PPG Industries from $174.00 to $169.00 in a research note on Tuesday, January 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $171.07.

PPG stock opened at $132.85 on Monday. The stock has a 50-day moving average price of $131.93 and a 200-day moving average price of $150.98. PPG Industries has a 1-year low of $111.32 and a 1-year high of $182.97. The company has a current ratio of 1.42, a quick ratio of 0.97 and a debt-to-equity ratio of 1.03. The firm has a market cap of $31.37 billion, a PE ratio of 29.46, a price-to-earnings-growth ratio of 1.67 and a beta of 1.22.

PPG Industries (NYSE:PPGGet Rating) last posted its quarterly earnings data on Thursday, April 21st. The specialty chemicals company reported $1.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.25. PPG Industries had a return on equity of 23.34% and a net margin of 6.26%. The firm had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period last year, the company posted $1.88 EPS. The business’s quarterly revenue was up 11.0% on a year-over-year basis. On average, analysts forecast that PPG Industries will post 7.18 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PPG. Moors & Cabot Inc. grew its position in shares of PPG Industries by 135.6% during the 3rd quarter. Moors & Cabot Inc. now owns 25,000 shares of the specialty chemicals company’s stock valued at $27,000 after purchasing an additional 14,390 shares in the last quarter. KB Financial Partners LLC purchased a new position in shares of PPG Industries during the 4th quarter valued at $30,000. Evolution Wealth Advisors LLC grew its position in shares of PPG Industries by 311.1% during the 3rd quarter. Evolution Wealth Advisors LLC now owns 222 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 168 shares in the last quarter. Rockbridge Investment Management LCC grew its position in shares of PPG Industries by 83.0% during the 4th quarter. Rockbridge Investment Management LCC now owns 183 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 83 shares in the last quarter. Finally, Allworth Financial LP grew its position in shares of PPG Industries by 157.4% during the 1st quarter. Allworth Financial LP now owns 242 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 148 shares in the last quarter. Hedge funds and other institutional investors own 78.95% of the company’s stock.

PPG Industries Company Profile (Get Rating)

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

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