PPG Industries (NYSE:PPG) Price Target Cut to $130.00 by Analysts at Wells Fargo & Company

PPG Industries (NYSE:PPG) had its target price cut by Wells Fargo & Company from $135.00 to $130.00 in a research note issued on Friday,MarketScreener reports. The firm currently has an “overweight” rating on the specialty chemicals company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 17.39% from the company’s previous close.

A number of other research analysts also recently issued reports on PPG. Mizuho decreased their price target on shares of PPG Industries from $140.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, March 23rd. Royal Bank Of Canada decreased their price objective on shares of PPG Industries from $115.00 to $114.00 and set a “sector perform” rating for the company in a research report on Thursday, March 19th. The Goldman Sachs Group boosted their target price on shares of PPG Industries from $118.00 to $132.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. UBS Group cut their price target on PPG Industries from $122.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, April 2nd. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of PPG Industries in a research report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $120.14.

PPG Industries Stock Up 1.0%

PPG Industries stock opened at $110.74 on Friday. The firm has a market capitalization of $24.78 billion, a P/E ratio of 15.93, a P/E/G ratio of 1.67 and a beta of 1.16. The company has a current ratio of 1.62, a quick ratio of 1.22 and a debt-to-equity ratio of 0.82. PPG Industries has a twelve month low of $93.39 and a twelve month high of $133.43. The stock’s fifty day simple moving average is $114.17 and its 200-day simple moving average is $106.72.

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

Insider Buying and Selling at PPG Industries

In related news, CFO Vincent J. Morales sold 78,095 shares of the business’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $131.00, for a total value of $10,230,445.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Anne M. Foulkes sold 3,594 shares of the company’s stock in a transaction that occurred 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 sale, the vice president directly owned 15,641 shares of the company’s stock, valued at approximately $1,949,025.01. This represents a 18.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 118,811 shares of company stock worth $15,219,371. 0.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On PPG Industries

A number of large investors have recently bought and sold shares of the company. CNB Bank boosted its holdings in shares of PPG Industries by 1.8% in the fourth quarter. CNB Bank now owns 4,514 shares of the specialty chemicals company’s stock valued at $463,000 after acquiring an additional 80 shares in the last quarter. IFP Advisors Inc boosted its holdings in PPG Industries by 2.7% in the 4th quarter. IFP Advisors Inc now owns 3,302 shares of the specialty chemicals company’s stock valued at $338,000 after purchasing an additional 87 shares in the last quarter. Whittier Trust Co. increased its position in PPG Industries by 1.4% during the 4th quarter. Whittier Trust Co. now owns 6,658 shares of the specialty chemicals company’s stock worth $703,000 after purchasing an additional 89 shares during the period. Insigneo Advisory Services LLC lifted its holdings in shares of PPG Industries by 4.3% in the 4th quarter. Insigneo Advisory Services LLC now owns 2,234 shares of the specialty chemicals company’s stock valued at $229,000 after buying an additional 92 shares during the period. Finally, OMERS ADMINISTRATION Corp grew its holdings in PPG Industries by 1.1% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 8,533 shares of the specialty chemicals company’s stock worth $874,000 after acquiring an additional 92 shares during the period. 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.