PPG Industries (NYSE:PPG) Raised to “Buy” at Bank of America

PPG Industries (NYSE:PPG) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a report released on Friday, MarketBeat Ratings reports. The brokerage currently has a $134.00 price objective on the specialty chemicals company’s stock, up from their prior price objective of $127.00. Bank of America‘s price objective points to a potential upside of 14.15% from the company’s current price.

PPG has been the subject of several other research reports. Mizuho boosted their target price on PPG Industries from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft increased their price target on PPG Industries from $120.00 to $130.00 in a report on Friday, March 27th. Weiss Ratings upgraded PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. Royal Bank Of Canada upped their price objective on PPG Industries from $119.00 to $129.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 8th. Finally, Wells Fargo & Company reduced their target price on PPG Industries from $135.00 to $130.00 and set an “overweight” rating on the stock in a research note on Friday, April 10th. Seven analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, PPG Industries presently has an average rating of “Hold” and a consensus target price of $126.13.

PPG Industries Trading Down 1.1%

Shares of PPG opened at $117.39 on Friday. PPG Industries has a twelve month low of $93.39 and a twelve month high of $133.43. The company has a market cap of $26.17 billion, a P/E ratio of 16.75, a P/E/G ratio of 1.72 and a beta of 1.05. The company has a current ratio of 1.61, a quick ratio of 1.17 and a debt-to-equity ratio of 0.78. The company’s fifty day simple moving average is $114.79 and its 200-day simple moving average is $112.87.

PPG Industries (NYSE:PPG) last released its earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.05. The firm had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.85 billion. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. The business’s revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the business earned $1.72 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, analysts expect that PPG Industries will post 7.94 EPS for the current year.

Institutional Investors Weigh In On PPG Industries

Several large investors have recently modified their holdings of PPG. Dorato Capital Management purchased a new position in PPG Industries during the fourth quarter valued at approximately $26,000. Resources Management Corp CT ADV raised its stake in PPG Industries by 900.0% in the fourth quarter. Resources Management Corp CT ADV now owns 250 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 225 shares in the last quarter. Quarry LP purchased a new stake in PPG Industries during the third quarter worth $26,000. Aster Capital Management DIFC Ltd purchased a new stake in PPG Industries during the fourth quarter worth $30,000. Finally, Essential Partners LLC boosted its position in PPG Industries by 59.3% during the 1st quarter. Essential Partners LLC now owns 301 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 112 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

PPG Industries Company Profile

PPG Industries is a global supplier of paints, coatings and specialty materials that serves industrial, transportation, consumer and construction markets. Founded in 1883 as the Pittsburgh Plate Glass Company, PPG has evolved from its origins in glass manufacturing into a diversified coatings and materials company headquartered in Pittsburgh, Pennsylvania. The company develops and manufactures a broad array of products used to protect and enhance surfaces, from consumer paints to highly engineered coatings for demanding industrial applications.

PPG’s product portfolio includes architectural and decorative paints, automotive original equipment and refinish coatings, industrial coatings for machinery and equipment, protective and marine coatings, aerospace and defense coatings, and packaging coatings and materials.