PPG Industries (PPG) Price Target Raised to $110.00 at SunTrust Banks

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PPG Industries (NYSE:PPG) had its price target increased by SunTrust Banks to $110.00 in a research report report published on Tuesday, The Fly reports. SunTrust Banks currently has a hold rating on the specialty chemicals company’s stock.

Several other brokerages also recently weighed in on PPG. Credit Suisse Group cut their price target on PPG Industries to $112.00 and set a neutral rating on the stock in a research report on Friday, January 18th. BMO Capital Markets cut their price target on PPG Industries from $116.00 to $107.00 and set a hold rating on the stock in a research report on Friday, October 19th. ValuEngine downgraded PPG Industries from a hold rating to a sell rating in a research report on Tuesday, October 9th. Goldman Sachs Group raised PPG Industries from a buy rating to a conviction-buy rating in a research report on Monday, October 29th. Finally, Zacks Investment Research downgraded PPG Industries from a hold rating to a sell rating in a research report on Thursday, December 20th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $116.89.

Shares of PPG opened at $104.35 on Tuesday. The stock has a market cap of $25.29 billion, a price-to-earnings ratio of 17.63, a P/E/G ratio of 2.15 and a beta of 1.27. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.96 and a current ratio of 1.37. PPG Industries has a fifty-two week low of $94.37 and a fifty-two week high of $121.65.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, January 17th. The specialty chemicals company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.05. The company had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.65 billion. PPG Industries had a return on equity of 27.86% and a net margin of 8.84%. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period last year, the firm earned $1.19 EPS. On average, analysts expect that PPG Industries will post 6.32 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 12th. Stockholders of record on Friday, February 22nd will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Thursday, February 21st. PPG Industries’s dividend payout ratio (DPR) is presently 32.43%.

Large investors have recently bought and sold shares of the company. Ipswich Investment Management Co. Inc. acquired a new stake in shares of PPG Industries during the 4th quarter valued at about $41,000. Legacy Financial Advisors Inc. grew its position in shares of PPG Industries by 27.5% during the 4th quarter. Legacy Financial Advisors Inc. now owns 598 shares of the specialty chemicals company’s stock valued at $61,000 after acquiring an additional 129 shares during the period. Cornerstone Wealth Management LLC grew its position in shares of PPG Industries by 13.9% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 12,278 shares of the specialty chemicals company’s stock valued at $109,000 after acquiring an additional 1,497 shares during the period. G&S Capital LLC grew its position in shares of PPG Industries by 13.9% during the 4th quarter. G&S Capital LLC now owns 1,275 shares of the specialty chemicals company’s stock valued at $130,000 after acquiring an additional 156 shares during the period. Finally, Investment Counselors of Maryland LLC acquired a new stake in shares of PPG Industries during the 3rd quarter valued at about $158,000. Hedge funds and other institutional investors own 78.43% of the company’s stock.

About PPG Industries

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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