Deutsche Bank Increases PPG Industries Price Target to $195.00 (PPG)
Equities researchers at Deutsche Bank hoisted their target price on shares of PPG Industries (NYSE:PPG) from $180.00 to $195.00 in a research report issued on Friday, American Banking & Market News reports. The firm currently has a “buy” rating on the stock. Deutsche Bank’s price target would indicate a potential upside of 10.94% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of PPG Industries in a research note to investors on Friday. They now have a $183.00 price target on the stock. Separately, analysts at Jefferies Group raised their price target on shares of PPG Industries from $185.00 to $200.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at Susquehanna raised their price target on shares of PPG Industries from $181.00 to $185.00 in a research note to investors on Monday, July 22nd. They now have a “positive” rating on the stock. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $163.76.
Shares of PPG Industries (NYSE:PPG) traded up 0.75% during mid-day trading on Friday, hitting $175.77. The stock had a trading volume of 1,353,878 shares. PPG Industries has a one year low of $113.70 and a one year high of $176.58. The stock’s 50-day moving average is $164.9 and its 200-day moving average is $155.5. The company has a market cap of $25.119 billion and a price-to-earnings ratio of 7.95.
PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, October 17th. The company reported $2.44 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.33 by $0.11. The company had revenue of $4.00 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter last year, the company posted $2.24 earnings per share. PPG Industries’s revenue was up 16.8% compared to the same quarter last year. On average, analysts predict that PPG Industries will post $8.09 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, December 12th. Shareholders of record on Monday, November 11th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Wednesday, November 6th.
PPG Industries, Inc (NYSE:PPG) is a global supplier of protective and decorative coatings.
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