PPG Industries (NYSE:PPG) Price Target Cut to $122.00 by Analysts at Royal Bank Of Canada

PPG Industries (NYSE:PPG) had its price objective lowered by equities research analysts at Royal Bank Of Canada from $129.00 to $122.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “sector perform” rating on the specialty chemicals company’s stock. Royal Bank Of Canada’s price target points to a potential upside of 8.85% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Wall Street Zen upgraded shares of PPG Industries from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Weiss Ratings raised PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. BNP Paribas Exane lifted their target price on PPG Industries from $115.00 to $116.00 in a research note on Thursday, April 30th. JPMorgan Chase & Co. cut their price target on PPG Industries from $126.00 to $125.00 in a report on Thursday, April 30th. Finally, Bank of America raised shares of PPG Industries from a “neutral” rating to a “buy” rating and increased their price objective for the company from $127.00 to $134.00 in a research report on Friday, July 17th. Seven research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, PPG Industries presently has an average rating of “Hold” and a consensus target price of $125.67.

PPG Industries Stock Up 0.2%

Shares of PPG Industries stock traded up $0.25 during trading hours on Thursday, reaching $112.08. 1,298,603 shares of the company’s stock were exchanged, compared to its average volume of 2,109,924. The company has a 50 day moving average of $116.58 and a two-hundred day moving average of $113.60. PPG Industries has a fifty-two week low of $93.39 and a fifty-two week high of $133.43. The company has a current ratio of 1.61, a quick ratio of 1.17 and a debt-to-equity ratio of 0.78. The stock has a market cap of $24.98 billion, a P/E ratio of 16.07, a P/E/G ratio of 1.75 and a beta of 1.05.

PPG Industries (NYSE:PPG) last released its earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.02). The company had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.37 billion. PPG Industries had a return on equity of 21.39% and a net margin of 9.57%.The business’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.22 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, sell-side analysts forecast that PPG Industries will post 7.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PPG. Dorato Capital Management acquired a new stake in shares of PPG Industries in the 4th quarter valued at approximately $26,000. Quarry LP bought a new position in shares of PPG Industries in the 3rd quarter valued at $26,000. Resources Management Corp CT ADV grew its position in PPG Industries by 900.0% during the 4th 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 last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of PPG Industries during the fourth quarter valued at about $30,000. Finally, Elevation Wealth Partners LLC grew its holdings in shares of PPG Industries by 1,468.4% during the second quarter. Elevation Wealth Partners LLC now owns 298 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 279 shares during the last quarter. Institutional investors and hedge funds 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.