PPG Industries (NYSE:PPG) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report released on Friday, October 19th, MarketBeat Ratings reports. The brokerage currently has a $105.00 target price on the specialty chemicals company’s stock. JPMorgan Chase & Co.’s price target indicates a potential downside of 2.52% from the stock’s current price.

Other analysts have also issued reports about the stock. KeyCorp lowered their price objective on shares of PPG Industries from $130.00 to $128.00 and set a “$104.41” rating for the company in a research note on Monday, July 23rd. Northcoast Research set a $114.00 price objective on shares of PPG Industries and gave the stock a “buy” rating in a research note on Tuesday, October 9th. Deutsche Bank decreased their price target on shares of PPG Industries from $124.00 to $116.00 and set a “buy” rating for the company in a research report on Tuesday, October 9th. Goldman Sachs Group raised shares of PPG Industries from a “neutral” rating to a “buy” rating and set a $126.00 price target for the company in a research report on Wednesday, July 25th. Finally, Vertical Research lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. PPG Industries currently has an average rating of “Hold” and a consensus price target of $117.81.

PPG traded down $0.96 during trading hours on Friday, hitting $107.71. The company’s stock had a trading volume of 897,306 shares, compared to its average volume of 2,636,520. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.22 and a current ratio of 1.71. PPG Industries has a 12 month low of $94.37 and a 12 month high of $122.07. The stock has a market capitalization of $26.27 billion, a PE ratio of 18.35, a P/E/G ratio of 2.26 and a beta of 1.36.

PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, October 18th. The specialty chemicals company reported $1.45 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.45. The firm had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.81 billion. PPG Industries had a net margin of 8.34% and a return on equity of 27.83%. The business’s revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.52 earnings per share. As a group, research analysts forecast that PPG Industries will post 5.81 earnings per share for the current year.

A number of large investors have recently modified their holdings of the stock. Ontario Teachers Pension Plan Board grew its stake in shares of PPG Industries by 74.6% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,837 shares of the specialty chemicals company’s stock worth $964,000 after purchasing an additional 3,776 shares during the period. CIBC World Markets Inc. grew its stake in shares of PPG Industries by 30.3% during the 3rd quarter. CIBC World Markets Inc. now owns 15,594 shares of the specialty chemicals company’s stock worth $1,702,000 after purchasing an additional 3,627 shares during the period. American International Group Inc. grew its stake in shares of PPG Industries by 3.9% during the 3rd quarter. American International Group Inc. now owns 81,543 shares of the specialty chemicals company’s stock worth $8,899,000 after purchasing an additional 3,043 shares during the period. Girard Partners LTD. grew its stake in shares of PPG Industries by 2.2% during the 3rd quarter. Girard Partners LTD. now owns 30,518 shares of the specialty chemicals company’s stock worth $3,330,000 after purchasing an additional 669 shares during the period. Finally, AXA grew its stake in shares of PPG Industries by 12.6% during the 3rd quarter. AXA now owns 467,634 shares of the specialty chemicals company’s stock worth $51,033,000 after purchasing an additional 52,256 shares during the period. Institutional investors own 78.76% of the company’s stock.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

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Analyst Recommendations for PPG Industries (NYSE:PPG)

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