Barclays Begins Coverage on PPG Industries (NYSE:PPG)

Equities researchers at Barclays initiated coverage on shares of PPG Industries (NYSE:PPG) in a note issued to investors on Tuesday, Briefing.com reports. The firm set an “overweight” rating and a $136.00 price target on the specialty chemicals company’s stock. Barclays‘s target price would indicate a potential upside of 31.28% from the company’s current price.

Other analysts have also issued reports about the company. Citigroup cut their price target on PPG Industries from $121.00 to $118.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 30th. Royal Bank Of Canada dropped their price target on shares of PPG Industries from $122.00 to $115.00 and set a “sector perform” rating for the company in a research note on Friday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PPG Industries in a research note on Monday, September 14th. BMO Capital Markets decreased their price objective on PPG Industries from $140.00 to $138.00 and set an “outperform” rating for the company in a report on Monday, July 6th. Finally, Bank of America raised PPG Industries from a “neutral” rating to a “buy” rating and raised their target price for the stock from $127.00 to $134.00 in a research report on Friday, July 17th. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $126.12.

PPG Industries Stock Performance

NYSE PPG opened at $103.60 on Tuesday. The firm has a 50-day moving average price of $109.93 and a two-hundred day moving average price of $111.67. PPG Industries has a 12-month low of $93.39 and a 12-month high of $133.43. The company has a market capitalization of $23.03 billion, a P/E ratio of 14.84, a P/E/G ratio of 1.69 and a beta of 1.06. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.72.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.02). PPG Industries had a return on equity of 21.07% and a net margin of 9.57%. The company had revenue of $4.50 billion during the quarter, compared to the consensus estimate of $4.37 billion. During the same quarter in the previous year, the business posted $2.22 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Analysts anticipate that PPG Industries will post 7.89 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PPG. QRG Capital Management Inc. grew its position in shares of PPG Industries by 9.2% during the 2nd quarter. QRG Capital Management Inc. now owns 20,147 shares of the specialty chemicals company’s stock valued at $2,444,000 after acquiring an additional 1,695 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in shares of PPG Industries by 6.0% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,012 shares of the specialty chemicals company’s stock worth $244,000 after purchasing an additional 114 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of PPG Industries by 2.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 251,590 shares of the specialty chemicals company’s stock worth $30,515,000 after purchasing an additional 6,928 shares during the period. State Street Corp raised its holdings in shares of PPG Industries by 8.8% in the 2nd quarter. State Street Corp now owns 13,871,116 shares of the specialty chemicals company’s stock worth $1,682,428,000 after purchasing an additional 1,124,109 shares during the period. Finally, Archford Capital Strategies LLC purchased a new position in PPG Industries in the second quarter valued at approximately $208,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Company Profile

PPG Industries, Inc is a global manufacturer of paints, coatings and specialty materials. Founded in 1883 as Pittsburgh Plate Glass, the company originally produced plate glass and later expanded into coatings and related technologies. Today, PPG’s products are used to protect, decorate and improve the performance of vehicles, aircraft, buildings, industrial equipment and consumer goods.

PPG serves the automotive, aerospace, construction, industrial, marine, packaging and consumer-product markets.