PPG Industries, Inc. (NYSE:PPG) Receives $155.47 Average Target Price from Brokerages

PPG Industries, Inc. (NYSE:PPGGet Free Report) has been assigned a consensus recommendation of “Hold” from the seventeen ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $155.47.

Several research firms have recently issued reports on PPG. KeyCorp decreased their target price on PPG Industries from $164.00 to $162.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. Evercore ISI cut PPG Industries from an “outperform” rating to an “in-line” rating and set a $152.00 price objective on the stock. in a report on Monday, April 22nd. StockNews.com upgraded PPG Industries from a “hold” rating to a “buy” rating in a report on Tuesday, April 30th. Wolfe Research assumed coverage on PPG Industries in a report on Friday, March 1st. They set a “peer perform” rating on the stock. Finally, Seaport Res Ptn upgraded PPG Industries from a “neutral” rating to a “buy” rating in a report on Monday, April 22nd.

Get Our Latest Stock Report on PPG

PPG Industries Price Performance

Shares of PPG stock opened at $128.46 on Tuesday. The stock has a 50-day moving average price of $133.48 and a 200 day moving average price of $139.78. The company has a quick ratio of 1.08, a current ratio of 1.55 and a debt-to-equity ratio of 0.73. The firm has a market cap of $30.12 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 1.59 and a beta of 1.28. PPG Industries has a 12 month low of $120.32 and a 12 month high of $152.89.

PPG Industries (NYSE:PPGGet Free Report) last posted its earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.86. The company had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.43 billion. PPG Industries had a return on equity of 22.98% and a net margin of 7.74%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.82 EPS. Research analysts expect that PPG Industries will post 8.44 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 10th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Thursday, May 9th. PPG Industries’s payout ratio is presently 43.92%.

PPG Industries declared that its board has authorized a share repurchase program on Thursday, April 18th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the specialty chemicals company to repurchase up to 8.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other PPG Industries news, CEO Timothy M. Knavish bought 2,061 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were acquired at an average cost of $133.24 per share, with a total value of $274,607.64. Following the acquisition, the chief executive officer now owns 35,833 shares of the company’s stock, valued at $4,774,388.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.56% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Wedmont Private Capital increased its position in PPG Industries by 2.9% during the 4th quarter. Wedmont Private Capital now owns 2,464 shares of the specialty chemicals company’s stock worth $363,000 after buying an additional 70 shares during the period. Barrett & Company Inc. increased its position in PPG Industries by 10.6% during the 4th quarter. Barrett & Company Inc. now owns 763 shares of the specialty chemicals company’s stock worth $114,000 after buying an additional 73 shares during the period. FinTrust Capital Advisors LLC increased its position in PPG Industries by 38.6% during the 4th quarter. FinTrust Capital Advisors LLC now owns 273 shares of the specialty chemicals company’s stock worth $41,000 after buying an additional 76 shares during the period. Kingsview Wealth Management LLC increased its position in PPG Industries by 0.9% during the 1st quarter. Kingsview Wealth Management LLC now owns 8,312 shares of the specialty chemicals company’s stock worth $1,204,000 after buying an additional 76 shares during the period. Finally, CWA Asset Management Group LLC increased its position in PPG Industries by 2.0% during the 3rd quarter. CWA Asset Management Group LLC now owns 4,052 shares of the specialty chemicals company’s stock worth $526,000 after buying an additional 78 shares during the period. Institutional investors own 81.86% of the company’s stock.

About PPG Industries

(Get Free Report

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

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Analyst Recommendations for PPG Industries (NYSE:PPG)

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