Royal Bank of Canada Trims PPG Industries (NYSE:PPG) Target Price to $136.00

PPG Industries (NYSE:PPG) had its price target dropped by equities research analysts at Royal Bank of Canada from $138.00 to $136.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “sector perform” rating on the specialty chemicals company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 6.44% from the stock’s current price.

Several other research firms also recently commented on PPG. KeyCorp decreased their price objective on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Citigroup lowered their price target on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Mizuho cut their price objective on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Bank of America decreased their target price on PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Finally, BMO Capital Markets reissued an “outperform” rating and set a $155.00 price target (down from $160.00) on shares of PPG Industries in a report on Monday. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $149.93.

PPG Industries Stock Down 0.8 %

Shares of PPG stock opened at $127.77 on Tuesday. PPG Industries has a 52-week low of $118.07 and a 52-week high of $151.16. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.05 and a current ratio of 1.49. The stock has a market cap of $29.96 billion, a price-to-earnings ratio of 21.58, a PEG ratio of 1.73 and a beta of 1.26. The firm’s 50-day moving average is $127.41 and its 200-day moving average is $128.93.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The business had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.07 earnings per share. Sell-side analysts predict that PPG Industries will post 8.24 EPS for the current year.

Institutional Trading of PPG Industries

Institutional investors and hedge funds have recently made changes to their positions in the company. Financial Connections Group Inc. bought a new position in PPG Industries in the second quarter valued at approximately $25,000. Riverview Trust Co bought a new position in shares of PPG Industries in the 1st quarter valued at $34,000. Rothschild Investment LLC acquired a new position in shares of PPG Industries during the 2nd quarter worth $37,000. LRI Investments LLC lifted its position in shares of PPG Industries by 463.8% during the 2nd quarter. LRI Investments LLC now owns 389 shares of the specialty chemicals company’s stock worth $49,000 after buying an additional 320 shares during the last quarter. Finally, Slocum Gordon & Co LLP boosted its stake in PPG Industries by 51.7% in the second quarter. Slocum Gordon & Co LLP now owns 455 shares of the specialty chemicals company’s stock valued at $57,000 after buying an additional 155 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

PPG Industries Company Profile

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.