PPG Industries (NYSE:PPG) Given a $132.00 Price Target by Royal Bank of Canada Analysts

Royal Bank of Canada set a $132.00 target price on PPG Industries (NYSE:PPG) in a research report sent to investors on Friday morning, TipRanks reports. The brokerage currently has a buy rating on the specialty chemicals company’s stock.

A number of other research analysts have also recently issued reports on PPG. Citigroup lowered their price target on shares of PPG Industries from $136.00 to $133.00 and set a buy rating for the company in a research report on Monday, September 9th. JPMorgan Chase & Co. raised shares of PPG Industries from an underweight rating to a neutral rating and lifted their price target for the company from $108.00 to $120.00 in a research report on Friday. Bank of America cut shares of PPG Industries from a neutral rating to an underperform rating and lowered their price target for the company from $135.00 to $103.00 in a research report on Friday, August 16th. Barclays lifted their price target on shares of PPG Industries from $120.00 to $125.00 and gave the company an equal weight rating in a research report on Friday, July 19th. Finally, Buckingham Research lifted their price target on shares of PPG Industries from $110.00 to $115.00 and gave the company a neutral rating in a research report on Tuesday, July 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $126.00.

NYSE PPG traded up $2.99 during trading hours on Friday, reaching $124.23. 2,938,222 shares of the company’s stock traded hands, compared to its average volume of 1,130,372. PPG Industries has a 52-week low of $94.41 and a 52-week high of $124.90. The firm has a market cap of $28.65 billion, a PE ratio of 20.98, a PEG ratio of 2.20 and a beta of 1.23. The firm has a 50-day simple moving average of $116.57 and a 200 day simple moving average of $114.84. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.49 and a quick ratio of 1.01.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, October 17th. The specialty chemicals company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.06. PPG Industries had a net margin of 8.00% and a return on equity of 28.90%. The company had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same period last year, the company posted $1.45 EPS. PPG Industries’s revenue was up .2% on a year-over-year basis. Sell-side analysts forecast that PPG Industries will post 6.24 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.64%. PPG Industries’s dividend payout ratio (DPR) is presently 34.46%.

In other PPG Industries news, CEO Michael H. Mcgarry sold 12,000 shares of PPG Industries stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $120.00, for a total value of $1,440,000.00. Following the completion of the transaction, the chief executive officer now directly owns 131,434 shares of the company’s stock, valued at $15,772,080. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Vadlamannati Ramaprasad sold 13,904 shares of PPG Industries stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $117.12, for a total transaction of $1,628,436.48. Following the completion of the transaction, the vice president now directly owns 29,617 shares of the company’s stock, valued at $3,468,743.04. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of PPG. Cornerstone Advisors Inc. grew its stake in shares of PPG Industries by 13.3% in the second quarter. Cornerstone Advisors Inc. now owns 749 shares of the specialty chemicals company’s stock worth $87,000 after acquiring an additional 88 shares during the period. Wedbush Securities Inc. grew its stake in shares of PPG Industries by 2.7% in the second quarter. Wedbush Securities Inc. now owns 3,828 shares of the specialty chemicals company’s stock worth $447,000 after acquiring an additional 99 shares during the period. First Allied Advisory Services Inc. grew its stake in shares of PPG Industries by 1.8% in the second quarter. First Allied Advisory Services Inc. now owns 6,124 shares of the specialty chemicals company’s stock worth $715,000 after acquiring an additional 107 shares during the period. Domani Wealth LLC grew its stake in shares of PPG Industries by 2.2% in the third quarter. Domani Wealth LLC now owns 4,907 shares of the specialty chemicals company’s stock worth $582,000 after acquiring an additional 107 shares during the period. Finally, Paragon Capital Management LLC grew its stake in shares of PPG Industries by 44.4% in the second quarter. Paragon Capital Management LLC now owns 371 shares of the specialty chemicals company’s stock worth $43,000 after acquiring an additional 114 shares during the period. 77.36% of the stock is owned by institutional investors and hedge funds.

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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