PPG Industries (PPG) Given a $115.00 Price Target by Credit Suisse Group Analysts
Credit Suisse Group set a $115.00 target price on PPG Industries (NYSE:PPG) in a research note published on Wednesday morning. The brokerage currently has a hold rating on the specialty chemicals company’s stock.
Other analysts also recently issued reports about the company. Northcoast Research set a $114.00 price objective on PPG Industries and gave the stock a buy rating in a research report on Tuesday, October 9th. Deutsche Bank cut their price objective on PPG Industries from $124.00 to $116.00 and set a buy rating for the company in a research report on Tuesday, October 9th. Citigroup raised PPG Industries from a neutral rating to a buy rating and set a $123.00 price objective for the company in a research report on Thursday, November 29th. Goldman Sachs Group raised PPG Industries from a buy rating to a conviction-buy rating in a research report on Monday, October 29th. Finally, Vertical Research downgraded 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, eleven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $119.00.
Shares of NYSE:PPG opened at $103.23 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.71 and a quick ratio of 1.22. The stock has a market cap of $25.38 billion, a P/E ratio of 17.59, a price-to-earnings-growth ratio of 2.19 and a beta of 1.38. PPG Industries has a 12-month low of $94.37 and a 12-month high of $122.07.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 12th. Investors of record on Monday, November 12th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Thursday, November 8th. PPG Industries’s dividend payout ratio (DPR) is 32.71%.
A number of institutional investors have recently made changes to their positions in PPG. Charles Schwab Investment Advisory Inc. purchased a new position in PPG Industries during the 2nd quarter valued at about $327,975,000. Capital International Investors purchased a new position in PPG Industries during the 3rd quarter valued at about $196,434,000. Parnassus Investments CA boosted its holdings in PPG Industries by 68.1% during the 2nd quarter. Parnassus Investments CA now owns 4,256,434 shares of the specialty chemicals company’s stock valued at $441,520,000 after acquiring an additional 1,724,631 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in PPG Industries by 6.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 23,500,737 shares of the specialty chemicals company’s stock valued at $2,564,635,000 after acquiring an additional 1,387,824 shares during the period. Finally, Bank of America Corp DE boosted its holdings in PPG Industries by 15.2% during the 2nd quarter. Bank of America Corp DE now owns 3,051,444 shares of the specialty chemicals company’s stock valued at $316,527,000 after acquiring an additional 401,643 shares during the period. Institutional investors own 78.51% 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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