PPG Industries Price Target Increased to $200.00 by Analysts at Robert W. Baird (PPG)
Investment analysts at Robert W. Baird lifted their price objective on shares of PPG Industries (NYSE:PPG) from $175.00 to $200.00 in a note issued to investors on Friday, AnalystRatingsNetwork.com reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 13.79% from the company’s current price.
Shares of PPG Industries (NYSE:PPG) traded up 0.75% on Friday, hitting $175.77. 1,353,878 shares of the company’s stock traded hands. PPG Industries has a 52-week low of $113.70 and a 52-week 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 issued its quarterly earnings data 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. Analysts expect that PPG Industries will post $8.09 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, December 12th. Stockholders of record on Monday, November 11th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Wednesday, November 6th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank raised their price target on shares of PPG Industries from $180.00 to $195.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, 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. Finally, 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. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. PPG Industries presently has an average rating of “Buy” and a consensus price target of $163.76.
PPG Industries, Inc (NYSE:PPG) is a global supplier of protective and decorative coatings.
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