Wells Fargo & Company Issues Pessimistic Forecast for PPG Industries (NYSE:PPG) Stock Price

PPG Industries (NYSE:PPG) had its price target cut by analysts at Wells Fargo & Company from $135.00 to $130.00 in a research note issued on Friday, MarketBeat Ratings reports. The firm currently has an “overweight” rating on the specialty chemicals company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 17.76% from the company’s current price.

PPG has been the subject of several other reports. Sanford C. Bernstein increased their price objective on PPG Industries from $123.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. Bank of America lowered their price objective on PPG Industries from $118.00 to $116.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Royal Bank Of Canada lowered their price objective on PPG Industries from $115.00 to $114.00 and set a “sector perform” rating for the company in a research note on Thursday, March 19th. Citigroup reaffirmed a “neutral” rating and set a $113.00 price objective (down from $132.00) on shares of PPG Industries in a report on Wednesday, April 1st. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PPG Industries in a report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $120.14.

PPG Industries Stock Up 0.6%

Shares of NYSE PPG opened at $110.39 on Friday. The stock has a market capitalization of $24.71 billion, a P/E ratio of 15.91, a P/E/G ratio of 1.67 and a beta of 1.16. The company has a 50-day moving average price of $114.07 and a 200-day moving average price of $106.73. PPG Industries has a 1 year low of $93.39 and a 1 year high of $133.43. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.62 and a quick ratio of 1.22.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Tuesday, January 27th. The specialty chemicals company reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.06). The business had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.77 billion. PPG Industries had a net margin of 9.93% and a return on equity of 22.30%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.61 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, equities research analysts forecast that PPG Industries will post 7.95 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Chancey E. Hagerty sold 2,250 shares of the firm’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $115.59, for a total transaction of $260,077.50. Following the completion of the sale, the vice president owned 8,477 shares in the company, valued at approximately $979,856.43. This trade represents a 20.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Anne M. Foulkes sold 3,594 shares of the firm’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $124.61, for a total transaction of $447,848.34. Following the sale, the vice president owned 15,641 shares of the company’s stock, valued at $1,949,025.01. This trade represents a 18.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 118,811 shares of company stock worth $15,219,371. Insiders own 0.33% of the company’s stock.

Institutional Trading of PPG Industries

Large investors have recently added to or reduced their stakes in the stock. Steigerwald Gordon & Koch Inc. purchased a new position in PPG Industries in the third quarter valued at approximately $26,000. Dorato Capital Management purchased a new position in PPG Industries in the fourth quarter valued at approximately $26,000. Resources Management Corp CT ADV lifted its stake in PPG Industries by 900.0% in the fourth quarter. Resources Management Corp CT ADV now owns 250 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 225 shares during the last quarter. Quarry LP purchased a new stake in PPG Industries in the 3rd quarter worth about $26,000. Finally, Root Financial Partners LLC purchased a new stake in PPG Industries in the 3rd quarter worth about $30,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

About PPG Industries

PPG Industries is a global supplier of paints, coatings and specialty materials that serves industrial, transportation, consumer and construction markets. Founded in 1883 as the Pittsburgh Plate Glass Company, PPG has evolved from its origins in glass manufacturing into a diversified coatings and materials company headquartered in Pittsburgh, Pennsylvania. The company develops and manufactures a broad array of products used to protect and enhance surfaces, from consumer paints to highly engineered coatings for demanding industrial applications.

PPG’s product portfolio includes architectural and decorative paints, automotive original equipment and refinish coatings, industrial coatings for machinery and equipment, protective and marine coatings, aerospace and defense coatings, and packaging coatings and materials.