PPG Industries (NYSE:PPG) Price Target Lowered to $115.00 at Mizuho

PPG Industries (NYSE:PPG) had its price target cut by analysts at Mizuho from $140.00 to $115.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the specialty chemicals company’s stock. Mizuho’s price objective indicates a potential upside of 13.30% from the stock’s current price.

Other analysts have also issued research reports about the stock. Berenberg Bank decreased their target price on shares of PPG Industries from $131.00 to $110.00 and set a “hold” rating on the stock in a research report on Thursday, December 4th. UBS Group boosted their price target on PPG Industries from $110.00 to $122.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. Evercore raised their price objective on PPG Industries from $112.00 to $128.00 in a report on Wednesday, February 18th. Wells Fargo & Company lifted their price objective on PPG Industries from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, January 29th. Finally, Zacks Research upgraded PPG Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $124.07.

PPG Industries Price Performance

Shares of PPG traded up $4.28 during trading hours on Monday, reaching $101.50. 1,623,141 shares of the company traded hands, compared to its average volume of 2,280,000. The stock has a market capitalization of $22.72 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 1.47 and a beta of 1.15. The stock has a fifty day simple moving average of $115.85 and a 200 day simple moving average of $107.13. PPG Industries has a fifty-two week low of $90.24 and a fifty-two week high of $133.43. The company has a quick ratio of 1.22, a current ratio of 1.62 and a debt-to-equity ratio of 0.82.

PPG Industries (NYSE:PPG) last released its earnings results on Tuesday, January 27th. The specialty chemicals company reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.06). PPG Industries had a net margin of 9.93% and a return on equity of 22.30%. The firm had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter last year, the company posted $1.61 earnings per share. PPG Industries’s revenue for the quarter was up 5.0% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, research analysts predict that PPG Industries will post 7.95 EPS for the current fiscal year.

Insider Activity

In other news, VP Anne M. Foulkes sold 3,594 shares of the business’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $124.61, for a total transaction of $447,848.34. Following the completion of the sale, the vice president directly owned 15,641 shares of the company’s stock, valued at $1,949,025.01. The trade was a 18.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Chancey E. Hagerty sold 2,250 shares of the stock in a transaction 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. This trade represents a 20.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 118,811 shares of company stock valued at $15,219,371 in the last ninety days. Company insiders own 0.33% of the company’s stock.

Institutional Trading of PPG Industries

A number of institutional investors have recently modified their holdings of PPG. Wellington Management Group LLP lifted its position in shares of PPG Industries by 19.9% during the third quarter. Wellington Management Group LLP now owns 15,159,770 shares of the specialty chemicals company’s stock worth $1,593,443,000 after purchasing an additional 2,521,004 shares in the last quarter. State Street Corp grew its holdings in PPG Industries by 4.6% during the 4th quarter. State Street Corp now owns 12,829,677 shares of the specialty chemicals company’s stock valued at $1,314,529,000 after purchasing an additional 565,523 shares in the last quarter. Pzena Investment Management LLC increased its stake in PPG Industries by 306.2% during the 4th quarter. Pzena Investment Management LLC now owns 7,098,767 shares of the specialty chemicals company’s stock worth $727,340,000 after buying an additional 5,351,103 shares during the period. Franklin Resources Inc. increased its stake in PPG Industries by 48.9% during the 4th quarter. Franklin Resources Inc. now owns 6,990,595 shares of the specialty chemicals company’s stock worth $716,256,000 after buying an additional 2,295,118 shares during the period. Finally, First Eagle Investment Management LLC lifted its holdings in PPG Industries by 0.4% in the 4th quarter. First Eagle Investment Management LLC now owns 6,290,622 shares of the specialty chemicals company’s stock worth $644,537,000 after buying an additional 26,793 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

About PPG Industries

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.