Credit Suisse Group set a $115.00 price target on PPG Industries (NYSE:PPG) in a report issued on Friday, TipRanks reports. The brokerage currently has a hold rating on the specialty chemicals company’s stock.
Several other equities analysts have also issued reports on PPG. Deutsche Bank boosted their price target on shares of Keysight Technologies from $100.00 to $120.00 and gave the company a buy rating in a report on Monday, April 22nd. ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Barclays set a $89.00 price objective on shares of Franco Nevada and gave the company a hold rating in a research report on Friday. SunTrust Banks set a $70.00 price objective on shares of Exponent and gave the company a buy rating in a research report on Friday. Finally, Zacks Investment Research cut shares of GENEL ENERGY PL/ADR from a hold rating to a sell rating in a research report on Thursday, July 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $123.87.
Shares of PPG stock traded up $2.01 on Friday, hitting $118.96. The stock had a trading volume of 1,775,028 shares, compared to its average volume of 1,276,641. PPG Industries has a twelve month low of $94.37 and a twelve month high of $121.29. The firm has a market cap of $27.86 billion, a price-to-earnings ratio of 20.09, a P/E/G ratio of 2.05 and a beta of 1.24. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.01 and a current ratio of 1.43. The company has a fifty day simple moving average of $116.23.
PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, July 18th. The specialty chemicals company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.02. PPG Industries had a net margin of 8.07% and a return on equity of 28.24%. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same quarter in the previous year, the business earned $1.90 EPS. The firm’s revenue was down 2.6% on a year-over-year basis. Research analysts expect that PPG Industries will post 6.33 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Monday, August 12th will be paid a $0.51 dividend. The ex-dividend date is Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a yield of 1.71%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.48. PPG Industries’s dividend payout ratio is 32.43%.
In other PPG Industries news, Director Victoria F. Haynes sold 674 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $107.16, for a total transaction of $72,225.84. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Vadlamannati Ramaprasad sold 13,904 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $117.12, for a total transaction of $1,628,436.48. Following the transaction, the vice president now owns 29,617 shares in the company, valued at approximately $3,468,743.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,078 shares of company stock worth $1,967,862. 0.37% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the business. American National Bank bought a new stake in shares of PPG Industries during the 2nd quarter worth approximately $25,000. Paragon Capital Management LLC bought a new stake in shares of PPG Industries during the 1st quarter worth approximately $29,000. Zions Bancorporation N.A. bought a new stake in shares of PPG Industries during the 1st quarter worth approximately $34,000. Berman Capital Advisors LLC lifted its holdings in shares of PPG Industries by 49.5% during the 1st quarter. Berman Capital Advisors LLC now owns 323 shares of the specialty chemicals company’s stock worth $36,000 after acquiring an additional 107 shares during the period. Finally, CX Institutional lifted its holdings in shares of PPG Industries by 797.4% during the 1st quarter. CX Institutional now owns 341 shares of the specialty chemicals company’s stock worth $38,000 after acquiring an additional 303 shares during the period. Hedge funds and other institutional investors own 78.54% of the company’s stock.
PPG Industries Company Profile
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.
Featured Story: The basics of gap trading strategies
Receive News & Ratings for PPG Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPG Industries and related companies with MarketBeat.com's FREE daily email newsletter.