PPG Industries (NYSE:PPG) Stock Rating Upgraded by JPMorgan Chase & Co.

PPG Industries (NYSE:PPG) was upgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Thursday, MarketBeat.com reports. The brokerage currently has a $112.00 target price on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 10.29% from the company’s previous close.

Several other equities analysts have also commented on the stock. Citigroup dropped their price target on shares of PPG Industries from $124.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, October 6th. Mizuho lowered their target price on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. Bank of America lowered their target price on shares of PPG Industries from $131.00 to $129.00 and set a “neutral” rating on the stock in a research report on Tuesday. Weiss Ratings restated a “hold (c)” rating on shares of PPG Industries in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada raised their target price on shares of PPG Industries from $115.00 to $117.00 and gave the stock a “sector perform” rating in a research report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, PPG Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.73.

PPG Industries Stock Performance

Shares of PPG Industries stock opened at $101.55 on Thursday. The firm has a market capitalization of $22.92 billion, a P/E ratio of 23.03, a P/E/G ratio of 2.12 and a beta of 1.16. PPG Industries has a 52 week low of $90.24 and a 52 week high of $132.18. The company has a quick ratio of 1.04, a current ratio of 1.42 and a debt-to-equity ratio of 0.76. The firm’s 50 day moving average is $107.49 and its two-hundred day moving average is $108.76.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 EPS for the quarter, meeting the consensus estimate of $2.22. The company had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.16 billion. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The firm’s revenue was down .9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.50 earnings per share. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. Research analysts forecast that PPG Industries will post 7.95 EPS for the current fiscal year.

Hedge Funds Weigh In On PPG Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Apollon Wealth Management LLC grew its position in PPG Industries by 27.0% in the 3rd quarter. Apollon Wealth Management LLC now owns 3,858 shares of the specialty chemicals company’s stock valued at $406,000 after buying an additional 821 shares during the last quarter. Bill Few Associates Inc. grew its position in PPG Industries by 6.3% in the 3rd quarter. Bill Few Associates Inc. now owns 9,408 shares of the specialty chemicals company’s stock valued at $989,000 after buying an additional 560 shares during the last quarter. HBK Sorce Advisory LLC grew its position in PPG Industries by 22.2% in the 3rd quarter. HBK Sorce Advisory LLC now owns 2,363 shares of the specialty chemicals company’s stock valued at $240,000 after buying an additional 430 shares during the last quarter. Blue Trust Inc. grew its position in PPG Industries by 18.4% in the 3rd quarter. Blue Trust Inc. now owns 1,100 shares of the specialty chemicals company’s stock valued at $116,000 after buying an additional 171 shares during the last quarter. Finally, Avanza Fonder AB grew its position in PPG Industries by 30.4% in the 3rd quarter. Avanza Fonder AB now owns 25,313 shares of the specialty chemicals company’s stock valued at $2,661,000 after buying an additional 5,906 shares during the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

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.