PPG Industries, Inc. (NYSE:PPG) Receives $151.08 Average Price Target from Brokerages

PPG Industries, Inc. (NYSE:PPG) has received an average recommendation of “Moderate Buy” from the fifteen research firms that are covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $151.08.

A number of research firms have recently issued reports on PPG. Bank of America reduced their price target on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. KeyCorp reduced their price target on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Royal Bank of Canada cut their price objective on shares of PPG Industries from $140.00 to $139.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 23rd. Barclays reduced their price objective on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, July 22nd. Finally, Citigroup lowered their price objective on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd.

PPG Industries Price Performance

PPG Industries stock opened at $126.98 on Thursday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.49 and a quick ratio of 1.05. The stock has a market capitalization of $29.78 billion, a P/E ratio of 21.45, a P/E/G ratio of 1.69 and a beta of 1.26. The firm’s 50-day moving average is $125.73 and its two-hundred day moving average is $131.23. PPG Industries has a 12-month low of $118.07 and a 12-month high of $151.16.

PPG Industries (NYSE:PPG) last released its earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.02. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The business had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.93 billion. During the same period last year, the company earned $2.25 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. Equities analysts predict that PPG Industries will post 8.25 earnings per share for the current year.

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 12th were issued a $0.68 dividend. The ex-dividend date was Monday, August 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.14%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.65. PPG Industries’s dividend payout ratio is presently 45.95%.

Institutional Trading of PPG Industries

A number of hedge funds have recently made changes to their positions in PPG. Private Wealth Management Group LLC acquired a new stake in shares of PPG Industries during the 4th quarter valued at about $27,000. Richardson Financial Services Inc. bought a new position in shares of PPG Industries in the 4th quarter valued at approximately $29,000. LifeSteps Financial Inc. acquired a new stake in PPG Industries in the 1st quarter worth approximately $29,000. YHB Investment Advisors Inc. bought a new position in PPG Industries in the 1st quarter worth $29,000. Finally, Financial Connections Group Inc. bought a new stake in PPG Industries during the second quarter valued at about $25,000. 81.86% of the stock is 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.