PPG Industries (NYSE:PPG) Given New $145.00 Price Target at JPMorgan Chase & Co.

PPG Industries (NYSE:PPG) had its price target decreased by research analysts at JPMorgan Chase & Co. from $155.00 to $145.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 10.75% from the company’s current price.

A number of other equities analysts have also recently issued reports on the company. Barclays lowered their target price on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, July 22nd. BMO Capital Markets reduced their price target on PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Mizuho reduced their price target on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday. UBS Group upped their price target on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Finally, KeyCorp reduced their price target on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock 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 stock. According to data from MarketBeat.com, PPG Industries has a consensus rating of “Moderate Buy” and a consensus price target of $150.50.

PPG Industries Price Performance

PPG Industries stock opened at $130.93 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.05 and a current ratio of 1.49. PPG Industries has a 52 week low of $118.07 and a 52 week high of $151.16. The stock has a market capitalization of $30.55 billion, a P/E ratio of 21.46, a price-to-earnings-growth ratio of 1.73 and a beta of 1.26. The stock has a fifty day moving average of $127.21 and a 200-day moving average of $129.10.

PPG Industries (NYSE:PPG) last issued its earnings results 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). PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The firm had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same period in the previous year, the company earned $2.07 EPS. PPG Industries’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, sell-side analysts expect that PPG Industries will post 8.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC boosted its holdings in PPG Industries by 0.9% in the first quarter. Kingsview Wealth Management LLC now owns 8,312 shares of the specialty chemicals company’s stock worth $1,204,000 after acquiring an additional 76 shares in the last quarter. Applied Capital LLC FL boosted its holdings in PPG Industries by 1.3% in the first quarter. Applied Capital LLC FL now owns 6,402 shares of the specialty chemicals company’s stock worth $928,000 after acquiring an additional 82 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in PPG Industries by 0.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company’s stock worth $2,549,000 after acquiring an additional 82 shares in the last quarter. Klingman & Associates LLC boosted its holdings in PPG Industries by 2.6% in the second quarter. Klingman & Associates LLC now owns 3,326 shares of the specialty chemicals company’s stock worth $419,000 after acquiring an additional 83 shares in the last quarter. Finally, Fragasso Financial Advisors Inc boosted its holdings in PPG Industries by 0.6% in the second quarter. Fragasso Financial Advisors Inc now owns 13,958 shares of the specialty chemicals company’s stock worth $1,757,000 after acquiring an additional 84 shares in the last quarter. 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.