PPG Industries (NYSE:PPG) Price Target Lowered to $150.00 at Mizuho

PPG Industries (NYSE:PPG) had its target price dropped by stock analysts at Mizuho from $160.00 to $150.00 in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The firm presently has an “outperform” rating on the specialty chemicals company’s stock. Mizuho’s target price would suggest a potential upside of 14.57% from the stock’s previous close.

PPG has been the topic of a number of other reports. UBS Group raised their price objective on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. BMO Capital Markets decreased their price target on PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Barclays dropped their price objective on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, July 22nd. Bank of America decreased their target price on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Finally, Citigroup dropped their price target on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $150.50.

PPG Industries Stock Performance

Shares of NYSE PPG opened at $130.93 on Thursday. The stock’s 50-day moving average is $127.21 and its 200 day moving average is $129.19. The stock has a market cap of $30.55 billion, a price-to-earnings ratio of 21.46, a P/E/G ratio of 1.73 and a beta of 1.26. PPG Industries has a 1-year low of $118.07 and a 1-year high of $151.16. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The business had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same period last year, the business posted $2.07 earnings per share. The company’s revenue was down 1.5% compared to the same quarter last year. On average, sell-side analysts anticipate that PPG Industries will post 8.24 EPS for the current fiscal year.

Hedge Funds Weigh In On PPG Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in PPG Industries by 17.2% during the 1st quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock valued at $4,159,074,000 after acquiring an additional 4,222,402 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of PPG Industries by 20.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock worth $276,576,000 after purchasing an additional 368,410 shares in the last quarter. Boston Partners grew its stake in shares of PPG Industries by 4.9% in the 1st quarter. Boston Partners now owns 1,713,126 shares of the specialty chemicals company’s stock worth $248,172,000 after buying an additional 80,710 shares during the last quarter. ProShare Advisors LLC increased its position in PPG Industries by 12.2% during the 2nd quarter. ProShare Advisors LLC now owns 1,404,015 shares of the specialty chemicals company’s stock valued at $176,751,000 after buying an additional 152,719 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in PPG Industries by 9.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,142,195 shares of the specialty chemicals company’s stock valued at $162,862,000 after buying an additional 100,391 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

About PPG Industries

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.