PPG Industries (NYSE:PPG) Coverage Initiated at Societe Generale

Equities research analysts at Societe Generale started coverage on shares of PPG Industries (NYSE:PPG) in a report issued on Tuesday, Marketbeat.com reports. The firm set a “buy” rating and a $138.00 price target on the specialty chemicals company’s stock. Societe Generale’s target price would indicate a potential upside of 19.01% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research cut GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a research report on Thursday, July 4th. Deutsche Bank increased their price objective on Keysight Technologies from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Barclays set a $46.00 price objective on D. R. Horton and gave the company a “buy” rating in a research report on Friday, April 26th. Buckingham Research reduced their price objective on Spotify from $174.00 to $165.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Finally, BMO Capital Markets reissued a “hold” rating and issued a $45.00 price objective on shares of SAP in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $119.23.

PPG Industries stock traded up $0.55 during trading hours on Tuesday, reaching $115.96. 30,691 shares of the company were exchanged, compared to its average volume of 1,262,497. The firm has a market capitalization of $27.37 billion, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of 2.08 and a beta of 1.24. The company has a current ratio of 1.40, a quick ratio of 0.97 and a debt-to-equity ratio of 0.92. The firm has a 50-day moving average price of $113.53. PPG Industries has a 12 month low of $94.37 and a 12 month high of $121.29.

PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, April 18th. The specialty chemicals company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.17. The firm had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.69 billion. PPG Industries had a return on equity of 28.72% and a net margin of 8.67%. The company’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.39 earnings per share. Equities research analysts forecast that PPG Industries will post 6.29 earnings per share for the current fiscal year.

In other PPG Industries news, Director Victoria F. Haynes sold 674 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $107.16, for a total transaction of $72,225.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP William E. Schaupp sold 2,500 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $106.88, for a total value of $267,200.00. Following the transaction, the vice president now owns 4,389 shares of the company’s stock, valued at $469,096.32. The disclosure for this sale can be found here. Corporate insiders own 0.37% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in PPG. Trian Fund Management L.P. raised its stake in PPG Industries by 69.2% during the fourth quarter. Trian Fund Management L.P. now owns 7,009,412 shares of the specialty chemicals company’s stock worth $716,572,000 after acquiring an additional 2,866,150 shares in the last quarter. Norges Bank acquired a new position in PPG Industries during the fourth quarter worth $36,143,000. Deutsche Bank AG raised its stake in PPG Industries by 24.0% during the fourth quarter. Deutsche Bank AG now owns 1,341,354 shares of the specialty chemicals company’s stock worth $137,116,000 after acquiring an additional 259,442 shares in the last quarter. Retirement Systems of Alabama raised its stake in PPG Industries by 155.0% during the second quarter. Retirement Systems of Alabama now owns 280,106 shares of the specialty chemicals company’s stock worth $32,691,000 after acquiring an additional 170,261 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its stake in PPG Industries by 53.2% during the fourth quarter. Lord Abbett & CO. LLC now owns 476,492 shares of the specialty chemicals company’s stock worth $48,712,000 after acquiring an additional 165,400 shares in the last quarter. Hedge funds and other institutional investors own 78.45% of the company’s stock.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

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Analyst Recommendations for PPG Industries (NYSE:PPG)

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