BNP Paribas Exane Cuts PPG Industries (NYSE:PPG) Price Target to $112.00

PPG Industries (NYSE:PPG) had its price target decreased by investment analysts at BNP Paribas Exane from $113.00 to $112.00 in a note issued to investors on Wednesday,MarketScreener reports. The firm presently has a “neutral” rating on the specialty chemicals company’s stock. BNP Paribas Exane’s price objective would suggest a potential upside of 1.83% from the company’s current price.

Several other equities research analysts also recently issued reports on PPG. Wells Fargo & Company decreased their price objective on shares of PPG Industries from $132.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PPG Industries in a research report on Friday, October 31st. UBS Group cut their price objective on PPG Industries from $115.00 to $110.00 and set a “neutral” rating on the stock in a research report on Thursday, October 30th. Sanford C. Bernstein decreased their target price on PPG Industries from $129.00 to $123.00 and set an “outperform” rating for the company in a research report on Monday, November 24th. Finally, Zacks Research lowered PPG Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, PPG Industries presently has a consensus rating of “Hold” and a consensus target price of $120.86.

PPG Industries Trading Up 1.3%

PPG stock traded up $1.42 during trading on Wednesday, reaching $109.99. 1,549,062 shares of the stock traded hands, compared to its average volume of 1,717,914. The firm has a market capitalization of $24.68 billion, a PE ratio of 24.94, a P/E/G ratio of 3.20 and a beta of 1.17. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.08. The business’s 50 day moving average price is $101.28 and its 200-day moving average price is $105.92. PPG Industries has a 52-week low of $90.24 and a 52-week high of $124.74.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.04. The business had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.06 billion. PPG Industries had a return on equity of 23.61% and a net margin of 6.35%.The company’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.13 EPS. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. As a group, sell-side analysts forecast that PPG Industries will post 7.95 earnings per share for the current year.

Institutional Investors Weigh In On PPG Industries

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of PPG Industries during the second quarter worth $362,412,000. Wellington Management Group LLP boosted its holdings in shares of PPG Industries by 19.9% in the 3rd quarter. Wellington Management Group LLP now owns 15,159,770 shares of the specialty chemicals company’s stock valued at $1,593,443,000 after buying an additional 2,521,004 shares during the period. Franklin Resources Inc. grew its position in shares of PPG Industries by 39.4% during the 3rd quarter. Franklin Resources Inc. now owns 4,695,477 shares of the specialty chemicals company’s stock valued at $493,542,000 after buying an additional 1,326,619 shares during the last quarter. Holocene Advisors LP lifted its holdings in PPG Industries by 342.8% in the second quarter. Holocene Advisors LP now owns 1,688,870 shares of the specialty chemicals company’s stock worth $192,109,000 after acquiring an additional 1,307,468 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in PPG Industries by 21.2% in the second quarter. First Eagle Investment Management LLC now owns 5,560,280 shares of the specialty chemicals company’s stock worth $632,482,000 after acquiring an additional 971,799 shares during the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Company Profile

PPG Industries is a global supplier of paints, coatings and specialty materials that serves industrial, transportation, consumer and construction markets. Founded in 1883 as the Pittsburgh Plate Glass Company, PPG has evolved from its origins in glass manufacturing into a diversified coatings and materials company headquartered in Pittsburgh, Pennsylvania. The company develops and manufactures a broad array of products used to protect and enhance surfaces, from consumer paints to highly engineered coatings for demanding industrial applications.

PPG’s product portfolio includes architectural and decorative paints, automotive original equipment and refinish coatings, industrial coatings for machinery and equipment, protective and marine coatings, aerospace and defense coatings, and packaging coatings and materials.