UBS Group Lowers PPG Industries (NYSE:PPG) Price Target to $150.00

PPG Industries (NYSE:PPG) had its price target dropped by stock analysts at UBS Group from $156.00 to $150.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the specialty chemicals company’s stock. UBS Group’s price target points to a potential upside of 14.59% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Robert W. Baird reaffirmed an “outperform” rating and set a $150.00 price target on shares of PPG Industries in a report on Friday, January 19th. Royal Bank of Canada dropped their target price on PPG Industries from $158.00 to $156.00 and set a “sector perform” rating on the stock in a report on Monday, January 22nd. Wells Fargo & Company raised PPG Industries from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $150.00 to $163.00 in a report on Thursday, April 11th. Citigroup dropped their target price on PPG Industries from $170.00 to $161.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. Finally, Barclays cut PPG Industries from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $163.00 to $149.00 in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $158.00.

PPG Industries Stock Down 3.1 %

NYSE:PPG opened at $130.90 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.05 and a current ratio of 1.47. The stock has a 50-day simple moving average of $140.36 and a 200 day simple moving average of $138.95. PPG Industries has a one year low of $120.32 and a one year high of $152.89. The company has a market capitalization of $30.81 billion, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.86. The company had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.43 billion. PPG Industries had a return on equity of 23.13% and a net margin of 7.74%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.82 earnings per share. Sell-side analysts predict that PPG Industries will post 8.46 EPS for the current fiscal year.

Insider Activity

In related news, CFO Vincent J. Morales sold 3,400 shares of PPG Industries stock in a transaction on Friday, March 1st. The shares were sold at an average price of $140.94, for a total value of $479,196.00. Following the completion of the sale, the chief financial officer now owns 28,439 shares of the company’s stock, valued at approximately $4,008,192.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PPG Industries

Several institutional investors and hedge funds have recently modified their holdings of the business. Wedmont Private Capital lifted its stake in shares of PPG Industries by 2.9% in the 4th quarter. Wedmont Private Capital now owns 2,464 shares of the specialty chemicals company’s stock valued at $363,000 after purchasing an additional 70 shares during the last quarter. Barrett & Company Inc. lifted its position in PPG Industries by 10.6% during the 4th quarter. Barrett & Company Inc. now owns 763 shares of the specialty chemicals company’s stock worth $114,000 after acquiring an additional 73 shares during the last quarter. West Michigan Advisors LLC lifted its position in PPG Industries by 3.4% during the 4th quarter. West Michigan Advisors LLC now owns 2,262 shares of the specialty chemicals company’s stock worth $338,000 after acquiring an additional 74 shares during the last quarter. Colony Group LLC lifted its position in PPG Industries by 3.0% during the 2nd quarter. Colony Group LLC now owns 2,540 shares of the specialty chemicals company’s stock worth $377,000 after acquiring an additional 74 shares during the last quarter. Finally, FinTrust Capital Advisors LLC lifted its position in PPG Industries by 38.6% during the 4th quarter. FinTrust Capital Advisors LLC now owns 273 shares of the specialty chemicals company’s stock worth $41,000 after acquiring an additional 76 shares during the last quarter. Institutional investors and hedge funds 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.