PPG Industries (NYSE:PPG) Stock Price Target Raised at Royal Bank Of Canada

PPG Industries (NYSE:PPG) had its target price increased by Royal Bank Of Canada from $115.00 to $123.00 in a report released 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 objective suggests a potential upside of 2.39% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Bank of America raised PPG Industries from a “neutral” rating to a “buy” rating and lifted their price target for the company from $127.00 to $134.00 in a report on Friday, July 17th. Wells Fargo & Company lifted their price target on PPG Industries from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday. The Goldman Sachs Group reissued a “buy” rating and issued a $128.00 price target on shares of PPG Industries in a research note on Friday, October 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of PPG Industries in a research note on Monday, September 14th. Finally, Mizuho increased their target price on PPG Industries from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Nine analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $128.00.

PPG Industries Trading Up 1.4%

PPG traded up $1.69 during midday trading on Thursday, hitting $120.12. The company’s stock had a trading volume of 2,161,944 shares, compared to its average volume of 1,987,109. PPG Industries has a 52-week low of $93.39 and a 52-week high of $133.43. The firm has a 50-day moving average price of $108.51 and a two-hundred day moving average price of $112.35. The firm has a market cap of $26.70 billion, a P/E ratio of 17.21, a PEG ratio of 2.04 and a beta of 1.06. The company has a current ratio of 1.58, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Tuesday, October 27th. The specialty chemicals company reported $2.25 EPS for the quarter, topping the consensus estimate of $2.12 by $0.13. The firm had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.28 billion. PPG Industries had a net margin of 9.57% and a return on equity of 21.07%. PPG Industries’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.13 earnings per share. On average, research analysts anticipate that PPG Industries will post 7.87 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in shares of PPG Industries in the second quarter worth approximately $2,856,392,000. Pzena Investment Management LLC bought a new position in shares of PPG Industries in the second quarter valued at approximately $946,964,000. Bank of New York Mellon Corp purchased a new position in shares of PPG Industries during the second quarter valued at approximately $318,870,000. Bank of America Corp DE purchased a new position in shares of PPG Industries during the second quarter valued at approximately $278,965,000. Finally, First Trust Advisors LP boosted its position in shares of PPG Industries by 321.4% during the first quarter. First Trust Advisors LP now owns 2,287,261 shares of the specialty chemicals company’s stock valued at $244,462,000 after buying an additional 1,744,528 shares during the last quarter. 81.86% of the stock is owned by institutional investors.

More PPG Industries News

Here are the key news stories impacting PPG Industries this week:

• Positive Sentiment: Q3 results exceeded expectations: PPG reported adjusted earnings of $2.25 per share, above estimates of roughly $2.12-$2.13, while revenue reached $4.35 billion versus the $4.28 billion consensus. Earnings were supported by aerospace demand, higher prices and stronger volumes. PPG Q3 Earnings Beat Estimates, Revenues Up Year Over Year on Aerospace Strength
• Positive Sentiment: Guidance improved: Management projected full-year adjusted EPS of $7.90 to $8.10 and raised the midpoint of its outlook. PPG also expects fourth-quarter EBITDA margins to improve by as much as 100 basis points, reinforcing expectations for continued profitability gains. PPG Outlines Full-Year Adjusted EPS Guidance
• Positive Sentiment: Analysts raised valuation targets: Citigroup lifted its target to $130, UBS to $123, Barclays to $137, Wells Fargo to $135, KeyBanc to $131 and Bernstein to $137. Barclays and Wells Fargo maintain “overweight” ratings, indicating meaningful potential upside from recent trading levels. Citigroup PPG Analyst Rating
• Neutral Sentiment: Citigroup and UBS retained “neutral” ratings despite their target increases, suggesting analysts see improved fundamentals but remain cautious about the extent of further gains. UBS PPG Analyst Rating
• Neutral Sentiment: Shares recently moved above their 200-day moving average, a potentially favorable technical signal, though one report questioned whether the move could also present a selling opportunity. PPG Shares Cross Above 200-Day Moving Average

PPG Industries Company Profile

PPG Industries, Inc is a global manufacturer of paints, coatings and specialty materials. The company develops products designed to protect, decorate and improve the performance of surfaces and components used in transportation, construction, manufacturing and consumer products.

Its product portfolio includes automotive and commercial vehicle coatings, aerospace coatings, industrial and protective coatings, architectural paints, packaging coatings, and coatings used in marine and other specialty applications.