PPG Industries (NYSE:PPG) Stock Rating Lowered by StockNews.com

PPG Industries (NYSE:PPG) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.

A number of other analysts have also weighed in on PPG. JPMorgan Chase & Co. cut their price objective on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. 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, October 17th. Deutsche Bank Aktiengesellschaft lowered their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday. Royal Bank of Canada reduced their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 22nd. Finally, Citigroup lowered their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $149.29.

PPG Industries Price Performance

PPG stock opened at $120.21 on Friday. The business’s fifty day moving average price is $124.99 and its 200 day moving average price is $126.21. PPG Industries has a 12-month low of $118.07 and a 12-month high of $150.82. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $27.89 billion, a PE ratio of 19.05, a P/E/G ratio of 1.90 and a beta of 1.24.

PPG Industries (NYSE:PPG) last issued its quarterly 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 23.63% and a net margin of 8.24%. The business had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter last year, the company earned $2.07 earnings per share. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, sell-side analysts anticipate that PPG Industries will post 8.18 EPS for the current year.

Insider Buying and Selling at PPG Industries

In other news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the transaction, the vice president now owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PPG Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of PPG. Financial Connections Group Inc. purchased a new position in shares of PPG Industries during the 2nd quarter worth approximately $25,000. Pin Oak Investment Advisors Inc. raised its position in PPG Industries by 465.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 200 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in PPG Industries in the third quarter valued at $34,000. Rothschild Investment LLC purchased a new stake in shares of PPG Industries during the 2nd quarter worth $37,000. Finally, Hara Capital LLC acquired a new position in shares of PPG Industries during the 3rd quarter worth $40,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

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.