Mizuho Raises PPG Industries (NYSE:PPG) Price Target to $135.00

PPG Industries (NYSE:PPG) had its price objective lifted by equities researchers at Mizuho from $125.00 to $135.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the specialty chemicals company’s stock. Mizuho’s target price indicates a potential upside of 16.81% from the company’s previous close.

Other analysts have also issued research reports about the company. Citigroup increased their price objective on PPG Industries from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, June 13th. Bank of America reissued a “neutral” rating and set a $126.00 price target (down previously from $143.00) on shares of PPG Industries in a research report on Tuesday, April 15th. UBS Group raised their price target on shares of PPG Industries from $111.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, July 9th. Royal Bank Of Canada upped their price objective on shares of PPG Industries from $112.00 to $113.00 and gave the company a “sector perform” rating in a research note on Friday, May 2nd. Finally, Wells Fargo & Company increased their target price on shares of PPG Industries from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.42.

PPG Industries Trading Up 1.1%

PPG stock opened at $115.57 on Tuesday. PPG Industries has a one year low of $90.24 and a one year high of $137.24. The company has a market capitalization of $26.24 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 2.39 and a beta of 1.16. The company’s 50 day moving average price is $112.92 and its two-hundred day moving average price is $112.09. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 1.35.

PPG Industries (NYSE:PPG) last issued its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.10. PPG Industries had a net margin of 6.49% and a return on equity of 24.84%. The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.67 billion. During the same quarter last year, the company earned $1.87 EPS. The firm’s revenue was down 4.3% compared to the same quarter last year. As a group, analysts predict that PPG Industries will post 7.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PPG Industries

A number of large investors have recently added to or reduced their stakes in PPG. Brighton Jones LLC lifted its stake in shares of PPG Industries by 9.1% in the 4th quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company’s stock worth $487,000 after purchasing an additional 339 shares during the period. HighTower Advisors LLC raised its position in PPG Industries by 8.8% in the fourth quarter. HighTower Advisors LLC now owns 81,394 shares of the specialty chemicals company’s stock worth $9,723,000 after acquiring an additional 6,557 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of PPG Industries during the 4th quarter worth $315,000. Natixis Advisors LLC boosted its stake in shares of PPG Industries by 1.2% during the 4th quarter. Natixis Advisors LLC now owns 139,051 shares of the specialty chemicals company’s stock worth $16,610,000 after acquiring an additional 1,679 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV grew its position in shares of PPG Industries by 12.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 5,631 shares of the specialty chemicals company’s stock valued at $673,000 after acquiring an additional 609 shares during the period. Institutional investors own 81.86% of the company’s stock.

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.