Evercore Issues Positive Forecast for PPG Industries (NYSE:PPG) Stock Price

PPG Industries (NYSE:PPG) had its price objective boosted by Evercore from $112.00 to $128.00 in a report released on Wednesday,MarketScreener reports.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank Of Canada increased their target price on shares of PPG Industries from $109.00 to $115.00 and gave the company a “sector perform” rating in a research note on Thursday, January 29th. BNP Paribas Exane reduced their price objective on PPG Industries from $113.00 to $112.00 and set a “neutral” rating for the company in a research report on Wednesday, January 14th. Berenberg Bank lowered their price objective on PPG Industries from $131.00 to $110.00 and set a “hold” rating on the stock in a research report on Thursday, December 4th. Zacks Research upgraded PPG Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. Finally, The Goldman Sachs Group lifted their price target on shares of PPG Industries from $118.00 to $132.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, PPG Industries presently has an average rating of “Hold” and an average target price of $125.93.

PPG Industries Stock Performance

NYSE PPG traded up $2.32 during trading on Wednesday, hitting $126.57. The company’s stock had a trading volume of 1,838,604 shares, compared to its average volume of 2,387,991. The company has a quick ratio of 1.08, a current ratio of 1.47 and a debt-to-equity ratio of 0.74. The firm has a 50 day moving average price of $113.06 and a 200 day moving average price of $107.09. The firm has a market cap of $28.40 billion, a P/E ratio of 18.24, a price-to-earnings-growth ratio of 1.87 and a beta of 1.16. PPG Industries has a 52 week low of $90.24 and a 52 week high of $133.43.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Tuesday, January 27th. The specialty chemicals company reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.06). The company had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.77 billion. PPG Industries had a return on equity of 22.67% and a net margin of 9.93%.The company’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.61 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Equities research analysts forecast that PPG Industries will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Friday, February 20th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, February 20th. PPG Industries’s payout ratio is currently 40.92%.

Insider Transactions at PPG Industries

In other news, CFO Vincent J. Morales sold 78,095 shares of PPG Industries stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $131.00, for a total value of $10,230,445.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Chancey E. Hagerty sold 2,250 shares of the business’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $115.59, for a total value of $260,077.50. Following the completion of the transaction, the vice president directly owned 8,477 shares in the company, valued at $979,856.43. The trade was a 20.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 115,217 shares of company stock valued at $14,771,523 in the last quarter. 0.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PPG Industries

Several institutional investors have recently bought and sold shares of PPG. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of PPG Industries in the third quarter valued at $26,000. Dorato Capital Management bought a new stake in PPG Industries during the 4th quarter worth about $26,000. Resources Management Corp CT ADV increased its position in PPG Industries by 900.0% in the 4th quarter. Resources Management Corp CT ADV now owns 250 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 225 shares in the last quarter. Quarry LP bought a new position in shares of PPG Industries in the third quarter worth about $26,000. Finally, Root Financial Partners LLC acquired a new position in shares of PPG Industries during the third quarter worth approximately $30,000. Institutional investors own 81.86% of the company’s stock.

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.