Mizuho Issues Positive Forecast for PPG Industries (NYSE:PPG) Stock Price

PPG Industries (NYSE:PPG) had its price target upped by investment analysts at Mizuho from $125.00 to $135.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the specialty chemicals company’s stock. Mizuho’s target price suggests a potential upside of 16.81% from the stock’s previous close.

A number of other research firms have also recently commented on PPG. Deutsche Bank Aktiengesellschaft raised their price target on PPG Industries from $125.00 to $140.00 and gave the company a “buy” rating in a report on Monday, May 12th. UBS Group lifted their target price on PPG Industries from $111.00 to $125.00 and gave the company a “neutral” rating in a research note on Wednesday, July 9th. Citigroup boosted their price target on PPG Industries from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, June 13th. JPMorgan Chase & Co. cut their price objective on shares of PPG Industries from $115.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Finally, Fermium Researc upgraded shares of PPG Industries to a “strong-buy” rating in a research report on Thursday, May 1st. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $131.42.

PPG Industries Trading Up 1.1%

PPG Industries stock opened at $115.57 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79. PPG Industries has a 12-month low of $90.24 and a 12-month high of $137.24. The firm has a market capitalization of $26.24 billion, a price-to-earnings ratio of 24.75, a P/E/G ratio of 2.39 and a beta of 1.16. The firm has a 50 day moving average of $112.92 and a 200 day moving average of $112.09.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.10. PPG Industries had a net margin of 6.49% and a return on equity of 24.84%. The firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.67 billion. During the same period in the prior year, the company posted $1.87 earnings per share. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, research analysts predict that PPG Industries will post 7.95 earnings per share for the current year.

Institutional Trading of PPG Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brown Lisle Cummings Inc. boosted its position in shares of PPG Industries by 11.7% during the second quarter. Brown Lisle Cummings Inc. now owns 2,232 shares of the specialty chemicals company’s stock valued at $254,000 after buying an additional 233 shares during the period. Signaturefd LLC boosted its holdings in PPG Industries by 18.9% during the 2nd quarter. Signaturefd LLC now owns 6,058 shares of the specialty chemicals company’s stock valued at $689,000 after acquiring an additional 965 shares during the period. Patton Fund Management Inc. bought a new position in PPG Industries in the 2nd quarter valued at $244,000. CX Institutional grew its position in PPG Industries by 302.0% in the 2nd quarter. CX Institutional now owns 1,628 shares of the specialty chemicals company’s stock valued at $185,000 after acquiring an additional 1,223 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its stake in PPG Industries by 15.8% in the second quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 551,217 shares of the specialty chemicals company’s stock worth $62,701,000 after purchasing an additional 75,118 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.