Barclays Has Lowered Expectations for PPG Industries (NYSE:PPG) Stock Price

PPG Industries (NYSE:PPG) had its price target decreased by analysts at Barclays from $144.00 to $125.00 in a report issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the specialty chemicals company’s stock. Barclays‘s target price points to a potential upside of 12.36% from the stock’s current price.

PPG has been the subject of a number of other reports. StockNews.com cut shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, December 20th. UBS Group reduced their price objective on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. BMO Capital Markets reaffirmed an “outperform” rating and set a $155.00 target price (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft decreased their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, 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 report on Friday, October 18th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, PPG Industries has a consensus rating of “Moderate Buy” and an average target price of $140.92.

PPG Industries Stock Down 0.7 %

Shares of PPG stock opened at $111.25 on Monday. PPG Industries has a 1 year low of $110.20 and a 1 year high of $145.60. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The business’s fifty day moving average is $120.83 and its 200-day moving average is $124.19. The stock has a market cap of $25.81 billion, a PE ratio of 23.52, a price-to-earnings-growth ratio of 1.99 and a beta of 1.23.

PPG Industries (NYSE:PPG) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. Equities analysts expect that PPG Industries will post 7.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PPG Industries

Institutional investors and hedge funds have recently modified their holdings of the stock. Illinois Municipal Retirement Fund raised its holdings in shares of PPG Industries by 10.6% during the fourth quarter. Illinois Municipal Retirement Fund now owns 56,505 shares of the specialty chemicals company’s stock worth $6,750,000 after acquiring an additional 5,422 shares in the last quarter. Vaughan David Investments LLC IL increased its position in PPG Industries by 2.9% in the 4th quarter. Vaughan David Investments LLC IL now owns 288,371 shares of the specialty chemicals company’s stock worth $34,446,000 after purchasing an additional 8,242 shares during the last quarter. FourThought Financial Partners LLC purchased a new stake in shares of PPG Industries during the 4th quarter worth about $458,000. Impax Asset Management Group plc lifted its holdings in shares of PPG Industries by 7.0% during the 4th quarter. Impax Asset Management Group plc now owns 254,358 shares of the specialty chemicals company’s stock valued at $30,383,000 after buying an additional 16,567 shares during the last quarter. Finally, IFP Advisors Inc grew its stake in shares of PPG Industries by 186.8% in the 4th quarter. IFP Advisors Inc now owns 628 shares of the specialty chemicals company’s stock valued at $75,000 after buying an additional 409 shares in the last quarter. 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.