The Goldman Sachs Group Boosts PPG Industries (NYSE:PPG) Price Target to $134.00

PPG Industries (NYSE:PPG) had its target price hoisted by equities research analysts at The Goldman Sachs Group from $132.00 to $134.00 in a research note issued to investors on Wednesday,MarketScreener reports. The firm presently has a “buy” rating on the specialty chemicals company’s stock. The Goldman Sachs Group’s price target points to a potential upside of 21.43% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on PPG. JPMorgan Chase & Co. boosted their price target on shares of PPG Industries from $117.00 to $126.00 and gave the company an “overweight” rating in a research report on Thursday, January 29th. KeyCorp reissued a “sector weight” rating on shares of PPG Industries in a research report on Thursday, January 29th. Citigroup reissued a “neutral” rating and issued a $113.00 price target (down from $132.00) on shares of PPG Industries in a research report on Wednesday, April 1st. Royal Bank Of Canada boosted their price target on shares of PPG Industries from $114.00 to $119.00 and gave the company a “sector perform” rating in a research report on Thursday, April 16th. Finally, Evercore boosted their price target on shares of PPG Industries from $112.00 to $128.00 in a research report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $120.86.

PPG Industries Price Performance

Shares of PPG opened at $110.35 on Wednesday. PPG Industries has a 1-year low of $93.39 and a 1-year high of $133.43. The stock has a market cap of $24.70 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.62 and a quick ratio of 1.22. The firm has a fifty day moving average price of $111.49 and a 200 day moving average price of $107.16.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Tuesday, January 27th. The specialty chemicals company reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.06). PPG Industries had a net margin of 9.93% and a return on equity of 22.30%. The company had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period last year, the firm earned $1.61 earnings per share. PPG Industries’s revenue was up 5.0% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, sell-side analysts anticipate that PPG Industries will post 8 EPS for the current year.

Insider Buying and Selling at PPG Industries

In other PPG Industries news, VP Anne M. Foulkes sold 3,594 shares of PPG Industries stock in a transaction on Friday, February 20th. The shares were sold at an average price of $124.61, for a total value of $447,848.34. Following the transaction, the vice president directly owned 15,641 shares in the company, valued at approximately $1,949,025.01. The trade was a 18.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Vincent J. Morales sold 78,095 shares of PPG Industries stock in a transaction on Friday, February 13th. The shares were sold at an average price of $131.00, for a total transaction of $10,230,445.00. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 113,611 shares of company stock worth $14,647,371. 0.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Dorato Capital Management acquired a new position in shares of PPG Industries during the fourth quarter worth about $26,000. Quarry LP acquired a new position in shares of PPG Industries during the third quarter worth about $26,000. Steigerwald Gordon & Koch Inc. acquired a new position in shares of PPG Industries during the third quarter worth about $26,000. Resources Management Corp CT ADV increased its stake in shares of PPG Industries by 900.0% during the fourth quarter. Resources Management Corp CT ADV now owns 250 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 225 shares during the period. Finally, Root Financial Partners LLC acquired a new position in shares of PPG Industries during the third quarter worth about $30,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

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.