PPG Industries, Inc. (PPG) Earns Buy Rating from Jefferies Group LLC
PPG Industries, Inc. (NYSE:PPG)‘s stock had its “buy” rating reaffirmed by stock analysts at Jefferies Group LLC in a research report issued on Friday. They presently have a $120.00 target price on the specialty chemicals company’s stock. Jefferies Group LLC’s target price would suggest a potential upside of 11.90% from the stock’s current price.
Other equities analysts have also recently issued research reports about the company. Citigroup Inc restated a “market perform” rating on shares of PPG Industries in a report on Friday, April 14th. Barclays PLC increased their target price on PPG Industries from $110.00 to $115.00 and gave the company an “equal weight” rating in a research note on Monday, April 24th. TheStreet upgraded PPG Industries from a “c+” rating to a “b+” rating in a research note on Monday. Evercore ISI initiated coverage on PPG Industries in a research note on Monday, February 13th. They set a “buy” rating and a $117.00 target price for the company. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $110.00 target price (up from $102.00) on shares of PPG Industries in a research note on Sunday, April 23rd. Ten research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $114.46.
PPG Industries (NYSE:PPG) traded up 0.31% during trading on Friday, reaching $107.24. The company’s stock had a trading volume of 664,697 shares. The firm has a market capitalization of $27.47 billion, a price-to-earnings ratio of 32.84 and a beta of 1.39. The stock’s 50-day moving average is $107.36 and its 200 day moving average is $101.55. PPG Industries has a 52-week low of $89.64 and a 52-week high of $113.49.
PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, April 20th. The specialty chemicals company reported $1.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.03. The firm had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.53 billion. PPG Industries had a return on equity of 29.94% and a net margin of 5.84%. PPG Industries’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.31 EPS. On average, analysts predict that PPG Industries will post $6.26 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 12th. Investors of record on Wednesday, May 10th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.49%. The ex-dividend date is Monday, May 8th. PPG Industries’s dividend payout ratio (DPR) is presently 48.93%.
COPYRIGHT VIOLATION WARNING: “PPG Industries, Inc. (PPG) Earns Buy Rating from Jefferies Group LLC” was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The original version of this piece can be read at https://www.americanbankingnews.com/2017/05/26/ppg-industries-inc-ppg-earns-buy-rating-from-jefferies-group-llc.html.
A number of institutional investors have recently made changes to their positions in PPG. Thrivent Financial for Lutherans boosted its position in shares of PPG Industries by 6.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 23,150 shares of the specialty chemicals company’s stock valued at $2,194,000 after buying an additional 1,450 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of PPG Industries by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 586,729 shares of the specialty chemicals company’s stock valued at $55,602,000 after buying an additional 8,060 shares during the period. Cliftonlarsonallen Wealth Advisors LLC purchased a new position in shares of PPG Industries during the third quarter valued at about $1,480,000. Capital Analysts LLC boosted its position in shares of PPG Industries by 7.7% in the fourth quarter. Capital Analysts LLC now owns 25,266 shares of the specialty chemicals company’s stock valued at $2,394,000 after buying an additional 1,812 shares during the period. Finally, Ledyard National Bank boosted its position in shares of PPG Industries by 10.9% in the first quarter. Ledyard National Bank now owns 3,044 shares of the specialty chemicals company’s stock valued at $320,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 71.49% of the company’s stock.
PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has three segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.
Receive News & Ratings for PPG Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPG Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.