Citigroup Reiterates “Neutral” Rating for PPG Industries (NYSE:PPG)

PPG Industries (NYSE:PPG)‘s stock had its “neutral” rating restated by Citigroup in a note issued to investors on Wednesday, MarketBeat Ratings reports. They currently have a $113.00 target price on the specialty chemicals company’s stock, down from their previous target price of $132.00. Citigroup’s target price points to a potential upside of 9.38% from the company’s previous close.

Several other analysts also recently issued reports on the company. Evercore boosted their price objective on PPG Industries from $112.00 to $128.00 in a report on Wednesday, February 18th. Berenberg Bank decreased their target price on shares of PPG Industries from $131.00 to $110.00 and set a “hold” rating for the company in a report on Thursday, December 4th. Bank of America dropped their target price on shares of PPG Industries from $118.00 to $116.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Mizuho cut their price target on shares of PPG Industries from $140.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, March 23rd. Finally, The Goldman Sachs Group upped their price target on shares of PPG Industries from $118.00 to $132.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $120.50.

PPG Industries Stock Performance

PPG opened at $103.31 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.62 and a debt-to-equity ratio of 0.82. The firm has a market cap of $23.12 billion, a PE ratio of 14.89, a P/E/G ratio of 1.61 and a beta of 1.16. The business has a fifty day simple moving average of $114.89 and a 200-day simple moving average of $106.82. PPG Industries has a fifty-two week low of $90.24 and a fifty-two week high of $133.43.

PPG Industries (NYSE:PPG) last announced its earnings results 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). PPG Industries had a return on equity of 22.30% and a net margin of 9.93%.The company had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period last year, the firm earned $1.61 earnings per share. The firm’s revenue for the quarter 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, equities analysts predict that PPG Industries will post 7.95 EPS for the current fiscal 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 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 transaction, the vice president owned 15,641 shares of the company’s stock, valued at $1,949,025.01. The trade was a 18.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Vincent J. Morales sold 78,095 shares of the company’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $131.00, for a total value of $10,230,445.00. The SEC filing for this sale provides additional information. Insiders have sold a total of 118,811 shares of company stock valued at $15,219,371 in the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PPG Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dorato Capital Management acquired a new position in shares of PPG Industries in the fourth quarter worth $26,000. Quarry LP purchased a new stake in shares of PPG Industries during the third quarter worth $26,000. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of PPG Industries during the third quarter worth $26,000. Resources Management Corp CT ADV boosted its position in 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 valued at $26,000 after purchasing an additional 225 shares during the last quarter. Finally, Root Financial Partners LLC purchased a new position in PPG Industries in the third quarter valued at 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.