The Goldman Sachs Group Lowers PPG Industries (NYSE:PPG) Price Target to $135.00

PPG Industries (NYSE:PPG) had its price objective reduced by analysts at The Goldman Sachs Group from $153.00 to $135.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the specialty chemicals company’s stock. The Goldman Sachs Group’s target price points to a potential upside of 17.52% from the stock’s current price.

PPG has been the subject of a number of other research reports. UBS Group cut their price objective on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a report on Friday, January 31st. KeyCorp downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. JPMorgan Chase & Co. dropped their target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, October 18th. StockNews.com lowered PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada dropped their price objective on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a report on Tuesday. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $140.46.

PPG Industries Stock Performance

Shares of NYSE:PPG opened at $114.87 on Thursday. 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 $110.20 and a 1 year high of $145.60. The firm has a market capitalization of $26.65 billion, a PE ratio of 24.29, a P/E/G ratio of 1.99 and a beta of 1.23. The business’s 50 day moving average price is $120.22 and its 200-day moving average price is $123.94.

PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. As a group, equities research analysts expect that PPG Industries will post 7.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of PPG Industries by 4.4% in the 3rd quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock valued at $1,552,100,000 after buying an additional 491,774 shares during the period. Wellington Management Group LLP increased its stake in PPG Industries by 5.7% during the third quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock worth $1,189,095,000 after purchasing an additional 485,597 shares during the period. Franklin Resources Inc. lifted its position in shares of PPG Industries by 5.7% during the third quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company’s stock worth $403,049,000 after purchasing an additional 170,339 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of PPG Industries by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,648,379 shares of the specialty chemicals company’s stock valued at $316,349,000 after purchasing an additional 76,626 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of PPG Industries by 2.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,877,170 shares of the specialty chemicals company’s stock valued at $248,650,000 after purchasing an additional 36,047 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

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.