Investment Analysts’ Recent Ratings Changes for PPG Industries (PPG)
Several analysts have recently updated their ratings and price targets for PPG Industries (NYSE: PPG):
- 10/2/2017 – PPG Industries had its price target raised by analysts at Citigroup Inc. from $112.00 to $114.00. They now have a “buy” rating on the stock.
- 9/25/2017 – PPG Industries was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Earnings estimates for PPG Industries for the third quarter have been going down of late. The company has underperformed the industry it belongs to over a year. PPG Industries faces currency headwind and macroeconomic challenges. Unfavorable currency translation is expected to weigh on its sales and earnings in the third quarter. PPG Industries is also exposed to raw materials cost pressure, which may affect its margins. Some of the company's end-markets including marine and wood & coil still remain sluggish.”
- 9/15/2017 – PPG Industries had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $120.00 price target on the stock.
- 9/13/2017 – PPG Industries had its “hold” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $109.00 price target on the stock.
- 9/1/2017 – PPG Industries had its “buy” rating reaffirmed by analysts at Robert W. Baird. They now have a $115.00 price target on the stock.
- 8/25/2017 – PPG Industries had its “buy” rating reaffirmed by analysts at KeyCorp. They now have a $125.00 price target on the stock.
- 8/9/2017 – PPG Industries had its “hold” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $109.00 price target on the stock.
PPG Industries, Inc. (NYSE:PPG) traded up 0.89% during mid-day trading on Tuesday, hitting $111.99. 1,299,914 shares of the stock were exchanged. The company has a market capitalization of $28.72 billion, a PE ratio of 29.46 and a beta of 1.55. PPG Industries, Inc. has a 52 week low of $89.64 and a 52 week high of $113.67. The stock’s 50-day moving average is $105.55 and its 200 day moving average is $107.16.
PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, July 20th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.83. PPG Industries had a return on equity of 29.47% and a net margin of 6.79%. The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the company earned $1.73 EPS. The business’s revenue for the quarter was up .6% on a year-over-year basis. On average, analysts anticipate that PPG Industries, Inc. will post $6.03 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Thursday, August 10th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.61%. This is a boost from PPG Industries’s previous quarterly dividend of $0.40. The ex-dividend date was Tuesday, August 8th. PPG Industries’s payout ratio is presently 46.88%.
In related news, insider Viktoras R. Sekmakas sold 18,616 shares of the stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $102.49, for a total transaction of $1,907,953.84. Following the completion of the transaction, the insider now owns 15,545 shares in the company, valued at $1,593,207.05. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Glenn E. Bost II sold 19,812 shares of the stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $100.80, for a total transaction of $1,997,049.60. Following the transaction, the vice president now owns 52,748 shares of the company’s stock, valued at approximately $5,316,998.40. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. 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.
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