PPG Industries (PPG) Rating Lowered to Sell at ValuEngine

ValuEngine lowered shares of PPG Industries (NYSE:PPG) from a hold rating to a sell rating in a research report report published on Tuesday.

Several other brokerages also recently commented on PPG. Credit Suisse Group lowered their target price on shares of PPG Industries from $122.00 to $119.00 and set an outperform rating for the company in a report on Friday, July 20th. Goldman Sachs Group upgraded shares of PPG Industries from a neutral rating to a buy rating and set a $126.00 target price for the company in a report on Wednesday, July 25th. Deutsche Bank lowered their target price on shares of PPG Industries from $124.00 to $116.00 and set a buy rating for the company in a report on Tuesday. Citigroup lowered their target price on shares of PPG Industries from $123.00 to $113.00 and set a neutral rating for the company in a report on Wednesday, July 11th. Finally, Zacks Investment Research upgraded shares of PPG Industries from a sell rating to a hold rating in a report on Tuesday, September 25th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $118.71.

Shares of PPG stock opened at $95.09 on Tuesday. The stock has a market capitalization of $26.41 billion, a PE ratio of 16.20, a PEG ratio of 2.11 and a beta of 1.50. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.70 and a quick ratio of 1.22. PPG Industries has a one year low of $94.40 and a one year high of $122.07.

PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, July 19th. The specialty chemicals company reported $1.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.88 by $0.02. The company had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.12 billion. PPG Industries had a net margin of 9.87% and a return on equity of 27.36%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.83 earnings per share. On average, equities research analysts anticipate that PPG Industries will post 6.2 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA increased its holdings in PPG Industries by 15.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 22,112,913 shares of the specialty chemicals company’s stock worth $2,293,772,000 after buying an additional 2,995,436 shares during the last quarter. Parnassus Investments CA increased its holdings in PPG Industries by 68.1% during the second quarter. Parnassus Investments CA now owns 4,256,434 shares of the specialty chemicals company’s stock worth $441,520,000 after buying an additional 1,724,631 shares during the last quarter. Aristotle Capital Management LLC increased its holdings in PPG Industries by 6.5% during the first quarter. Aristotle Capital Management LLC now owns 3,401,374 shares of the specialty chemicals company’s stock worth $379,593,000 after buying an additional 208,087 shares during the last quarter. Wells Fargo & Company MN increased its holdings in PPG Industries by 1.4% during the second quarter. Wells Fargo & Company MN now owns 3,379,358 shares of the specialty chemicals company’s stock worth $350,542,000 after buying an additional 46,243 shares during the last quarter. Finally, Charles Schwab Investment Advisory Inc. purchased a new stake in PPG Industries during the second quarter worth about $327,975,000. Institutional investors and hedge funds own 76.64% 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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