PPG Industries (NYSE:PPG) Price Target Lowered to $145.00 at Deutsche Bank Aktiengesellschaft

PPG Industries (NYSE:PPG) had its price target decreased by equities research analysts at Deutsche Bank Aktiengesellschaft from $150.00 to $145.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the specialty chemicals company’s stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 20.62% from the stock’s previous close.

A number of other brokerages have also weighed in on PPG. Citigroup cut their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday. Mizuho decreased their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. BMO Capital Markets restated an “outperform” rating and set a $155.00 price target (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. JPMorgan Chase & Co. decreased their price objective on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Finally, StockNews.com upgraded shares of PPG Industries from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 12th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $149.29.

PPG Industries Stock Up 0.6 %

NYSE PPG opened at $120.21 on Thursday. The business’s 50-day moving average is $124.99 and its 200 day moving average is $126.25. The stock has a market capitalization of $27.89 billion, a PE ratio of 19.05, a PEG ratio of 1.90 and a beta of 1.24. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. PPG Industries has a 1 year low of $118.07 and a 1 year high of $150.82.

PPG Industries (NYSE:PPG) last posted its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The business had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same period last year, the firm posted $2.07 earnings per share. PPG Industries’s quarterly revenue was down 1.5% on a year-over-year basis. Sell-side analysts forecast that PPG Industries will post 8.18 earnings per share for the current year.

Insider Buying and Selling at PPG Industries

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the transaction, the vice president now owns 13,454 shares in the company, valued at approximately $1,692,513.20. This represents a 12.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PPG. Financial Connections Group Inc. bought a new stake in PPG Industries in the 2nd quarter worth approximately $25,000. Pin Oak Investment Advisors Inc. boosted its stake in shares of PPG Industries by 465.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 200 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in PPG Industries during the third quarter valued at $34,000. Rothschild Investment LLC bought a new position in PPG Industries in the second quarter valued at about $37,000. Finally, Hara Capital LLC purchased a new position in PPG Industries in the third quarter worth about $40,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

About PPG Industries

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.