PPG Industries (NYSE:PPG) Earns Hold (C-) Rating from Weiss Ratings

PPG Industries (NYSE:PPG)‘s stock had its “hold (c-)” rating reaffirmed by equities researchers at Weiss Ratings in a research report issued to clients and investors on Friday,Weiss Ratings reports.

PPG has been the topic of a number of other reports. Bank of America lowered their price objective on shares of PPG Industries from $131.00 to $129.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. UBS Group reduced their target price on shares of PPG Industries from $115.00 to $110.00 and set a “neutral” rating on the stock in a report on Thursday. JPMorgan Chase & Co. upgraded shares of PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 target price on the stock in a report on Thursday, October 16th. Mizuho reduced their target price on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. Finally, Citigroup reduced their target price on shares of PPG Industries from $124.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, PPG Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.30.

PPG Industries Price Performance

Shares of NYSE PPG opened at $97.78 on Friday. The stock has a market cap of $22.07 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 2.13 and a beta of 1.16. PPG Industries has a 52 week low of $90.24 and a 52 week high of $130.05. The company’s 50-day moving average price is $105.65 and its 200 day moving average price is $109.03. The company has a current ratio of 1.47, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Tuesday, October 28th. The specialty chemicals company reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.04. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.06 billion. PPG Industries had a net margin of 6.35% and a return on equity of 24.17%. The firm’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.13 EPS. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. As a group, research analysts forecast that PPG Industries will post 7.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. grew its holdings in shares of PPG Industries by 0.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 249,755 shares of the specialty chemicals company’s stock worth $27,311,000 after purchasing an additional 1,697 shares during the period. Clear Creek Financial Management LLC purchased a new stake in shares of PPG Industries during the 1st quarter worth about $240,000. Principal Financial Group Inc. grew its holdings in shares of PPG Industries by 4.4% during the 1st quarter. Principal Financial Group Inc. now owns 302,962 shares of the specialty chemicals company’s stock worth $33,129,000 after purchasing an additional 12,650 shares during the period. Meridian Wealth Management LLC lifted its position in PPG Industries by 311.2% during the 1st quarter. Meridian Wealth Management LLC now owns 7,665 shares of the specialty chemicals company’s stock worth $838,000 after acquiring an additional 5,801 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in PPG Industries by 10.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 494,482 shares of the specialty chemicals company’s stock worth $54,060,000 after acquiring an additional 48,177 shares during the period. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.