UBS Group Has Lowered Expectations for PPG Industries (NYSE:PPG) Stock Price

PPG Industries (NYSE:PPG) had its target price lowered by analysts at UBS Group from $128.00 to $126.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. UBS Group’s price target suggests a potential upside of 8.79% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. BMO Capital Markets restated an “outperform” rating and set a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft decreased their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. StockNews.com lowered shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 20th. KeyCorp lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Finally, Royal Bank of Canada reduced their price objective on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 22nd. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PPG Industries presently has an average rating of “Moderate Buy” and an average target price of $148.00.

PPG Industries Stock Down 5.6 %

Shares of PPG traded down $6.93 during trading hours on Friday, hitting $115.82. The stock had a trading volume of 2,435,439 shares, compared to its average volume of 2,090,002. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The firm has a 50 day simple moving average of $121.25 and a 200-day simple moving average of $124.56. The firm has a market capitalization of $26.87 billion, a P/E ratio of 18.36, a price-to-earnings-growth ratio of 1.94 and a beta of 1.24. PPG Industries has a 1-year low of $113.00 and a 1-year high of $145.60.

PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. Sell-side analysts predict that PPG Industries will post 8.15 EPS for the current fiscal year.

Institutional Trading of PPG Industries

Several hedge funds have recently added to or reduced their stakes in PPG. GAM Holding AG bought a new position in shares of PPG Industries during the fourth quarter valued at about $1,567,000. Venturi Wealth Management LLC raised its stake in shares of PPG Industries by 19.5% during the fourth quarter. Venturi Wealth Management LLC now owns 3,047 shares of the specialty chemicals company’s stock valued at $364,000 after acquiring an additional 498 shares during the last quarter. D.A. Davidson & CO. increased its position in shares of PPG Industries by 1.9% during the fourth quarter. D.A. Davidson & CO. now owns 73,241 shares of the specialty chemicals company’s stock valued at $8,749,000 after buying an additional 1,373 shares during the period. Empower Advisory Group LLC increased its position in shares of PPG Industries by 0.9% during the fourth quarter. Empower Advisory Group LLC now owns 72,244 shares of the specialty chemicals company’s stock valued at $8,629,000 after buying an additional 610 shares during the period. Finally, CIBC Asset Management Inc increased its position in shares of PPG Industries by 4.2% during the fourth quarter. CIBC Asset Management Inc now owns 35,529 shares of the specialty chemicals company’s stock valued at $4,244,000 after buying an additional 1,428 shares during the period. 81.86% of the stock is owned by 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.