Royal Bank of Canada Boosts PPG Industries (NYSE:PPG) Price Target to $113.00

PPG Industries (NYSE:PPG) had its price target hoisted by equities researchers at Royal Bank of Canada from $112.00 to $113.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the specialty chemicals company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 2.31% from the company’s current price.

PPG has been the topic of several other research reports. UBS Group boosted their price target on PPG Industries from $110.00 to $111.00 and gave the company a “neutral” rating in a research report on Wednesday. Wells Fargo & Company increased their price target on PPG Industries from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday. Barclays reissued an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. Mizuho reduced their target price on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Finally, Seaport Res Ptn lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Nine analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $128.83.

PPG Industries Trading Up 1.5 %

NYSE:PPG opened at $110.45 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries has a 52-week low of $90.24 and a 52-week high of $137.24. The stock’s 50 day moving average price is $106.97 and its 200 day moving average price is $116.29. The company has a market capitalization of $25.07 billion, a PE ratio of 23.35, a P/E/G ratio of 2.19 and a beta of 1.16.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.62 by $0.10. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter in the prior year, the firm earned $1.87 EPS. PPG Industries’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, research analysts anticipate that PPG Industries will post 7.95 EPS for the current year.

Insider Buying and Selling at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the sale, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PPG Industries

A number of large investors have recently bought and sold shares of PPG. Park Square Financial Group LLC acquired a new stake in shares of PPG Industries during the fourth quarter valued at $26,000. Legend Financial Advisors Inc. purchased a new position in PPG Industries in the 4th quarter valued at about $27,000. CVA Family Office LLC boosted its stake in shares of PPG Industries by 70.6% during the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company’s stock worth $30,000 after purchasing an additional 113 shares during the last quarter. Prudent Man Investment Management Inc. acquired a new position in shares of PPG Industries in the fourth quarter valued at approximately $36,000. Finally, Albion Financial Group UT acquired a new position in shares of PPG Industries in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.