PPG Industries, Inc. (PPG) Receives Average Recommendation of “Hold” from Brokerages

Shares of PPG Industries, Inc. (NYSE:PPG) have received a consensus recommendation of “Hold” from the nineteen analysts that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $116.57.

PPG has been the topic of several recent research reports. Deutsche Bank increased their price target on shares of PPG Industries from $114.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, November 1st. Goldman Sachs Group upgraded shares of PPG Industries from a “buy” rating to a “conviction-buy” rating in a research report on Monday, October 29th. Zacks Investment Research downgraded shares of PPG Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, January 15th. Citigroup upgraded shares of PPG Industries from a “neutral” rating to a “buy” rating and set a $123.00 price target on the stock in a research report on Thursday, November 29th. Finally, JPMorgan Chase & Co. downgraded shares of PPG Industries from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $105.00 to $106.00 in a research report on Friday, January 18th.

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Hedge funds have recently made changes to their positions in the company. Reliance Trust Co. of Delaware grew its stake in PPG Industries by 13.1% during the third quarter. Reliance Trust Co. of Delaware now owns 11,328 shares of the specialty chemicals company’s stock valued at $1,236,000 after acquiring an additional 1,313 shares in the last quarter. Creative Planning grew its stake in PPG Industries by 24.8% during the third quarter. Creative Planning now owns 35,493 shares of the specialty chemicals company’s stock valued at $3,873,000 after acquiring an additional 7,046 shares in the last quarter. G&S Capital LLC grew its stake in PPG Industries by 13.9% during the fourth quarter. G&S Capital LLC now owns 1,275 shares of the specialty chemicals company’s stock valued at $130,000 after acquiring an additional 156 shares in the last quarter. Confluence Investment Management LLC grew its stake in PPG Industries by 3.6% during the third quarter. Confluence Investment Management LLC now owns 162,008 shares of the specialty chemicals company’s stock valued at $17,680,000 after acquiring an additional 5,607 shares in the last quarter. Finally, Global Financial Private Capital LLC purchased a new position in PPG Industries during the third quarter valued at $724,000. Hedge funds and other institutional investors own 78.31% of the company’s stock.

PPG traded up $0.30 during trading on Friday, hitting $105.74. The company’s stock had a trading volume of 816,640 shares, compared to its average volume of 1,516,378. The company has a current ratio of 1.37, a quick ratio of 0.96 and a debt-to-equity ratio of 0.99. PPG Industries has a one year low of $94.37 and a one year high of $119.07. The company has a market capitalization of $25.20 billion, a PE ratio of 17.86, a PEG ratio of 1.99 and a beta of 1.27.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, January 17th. The specialty chemicals company reported $1.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.05. PPG Industries had a net margin of 8.84% and a return on equity of 27.86%. The business had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same period last year, the firm earned $1.19 earnings per share. The company’s quarterly revenue was down 1.0% on a year-over-year basis. Equities analysts forecast that PPG Industries will post 6.23 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 12th. Stockholders of record on Friday, February 22nd will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, February 21st. This represents a $1.92 annualized dividend and a dividend yield of 1.82%. PPG Industries’s payout ratio is 32.43%.

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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