PPG Industries, Inc. (NYSE:PPG) Receives $123.58 Average Target Price from Brokerages

by · The Cerbat Gem

Shares of PPG Industries, Inc. (NYSE:PPG – Get Free Report) have been given a consensus recommendation of “Hold” by the nineteen brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $122.5385.

PPG has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PPG Industries in a report on Friday, October 31st. Citigroup reduced their price target on PPG Industries from $124.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, October 6th. Sanford C. Bernstein lowered their price objective on PPG Industries from $129.00 to $123.00 and set an “outperform” rating on the stock in a research report on Monday, November 24th. Bank of America cut their price objective on PPG Industries from $131.00 to $129.00 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. Finally, JPMorgan Chase & Co. increased their target price on shares of PPG Industries from $112.00 to $117.00 and gave the stock an “overweight” rating in a report on Friday, November 21st.

Check Out Our Latest Stock Analysis on PPG

PPG Industries Trading Down 0.6%

Shares of NYSE PPG opened at $100.41 on Friday. The firm’s 50 day moving average price is $99.72 and its 200-day moving average price is $107.25. PPG Industries has a 52-week low of $90.24 and a 52-week high of $130.05. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.08 and a current ratio of 1.47. The company has a market cap of $22.53 billion, a PE ratio of 22.77, a P/E/G ratio of 2.77 and a beta of 1.16.

PPG Industries (NYSE:PPG – Get Free Report) last posted its quarterly earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.04. PPG Industries had a return on equity of 23.61% and a net margin of 6.35%.The firm had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter in the previous year, the business earned $2.13 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. On average, equities research analysts expect that PPG Industries will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Monday, November 10th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Monday, November 10th. PPG Industries’s dividend payout ratio is presently 64.40%.

Institutional Investors Weigh In On PPG Industries

Several institutional investors and hedge funds have recently modified their holdings of PPG. Capital Advisors Ltd. LLC lifted its position in PPG Industries by 127.6% during the second quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 125 shares during the last quarter. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of PPG Industries during the 3rd quarter valued at about $26,000. Quarry LP purchased a new stake in shares of PPG Industries during the 3rd quarter valued at about $26,000. Headlands Technologies LLC bought a new position in shares of PPG Industries in the 1st quarter valued at about $30,000. Finally, Root Financial Partners LLC purchased a new position in PPG Industries in the third quarter worth about $30,000. Institutional investors own 81.86% of the company’s stock.

PPG Industries Company Profile

(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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