PPG Industries (NYSE:PPG) Stock Rating Raised to Strong-Buy at Barclays

Barclays upgraded shares of PPG Industries (NYSE:PPG) to a strong-buy rating in a research note issued to investors on Monday morning,Zacks reports.

Other analysts have also recently issued research reports about the company. BMO Capital Markets dropped their price objective on PPG Industries from $140.00 to $138.00 and set an “outperform” rating on the stock in a report on Monday, July 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PPG Industries in a report on Monday, September 14th. Wall Street Zen lowered PPG Industries from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. The Goldman Sachs Group reiterated a “buy” rating and set a $128.00 price target on shares of PPG Industries in a research report on Friday, October 9th. Finally, UBS Group lowered their price target on shares of PPG Industries from $125.00 to $116.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, PPG Industries has an average rating of “Moderate Buy” and a consensus price target of $126.12.

PPG Industries Stock Up 0.4%

PPG opened at $104.96 on Monday. PPG Industries has a 12 month low of $93.39 and a 12 month high of $133.43. The company has a market cap of $23.33 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 1.69 and a beta of 1.06. The company has a current ratio of 1.58, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72. The company has a 50 day moving average of $109.38 and a 200 day moving average of $111.66.

PPG Industries (NYSE:PPG) last posted its earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.02). PPG Industries had a return on equity of 21.07% and a net margin of 9.57%. The company had revenue of $4.50 billion for the quarter, compared to analysts’ expectations of $4.37 billion. During the same quarter in the prior year, the company earned $2.22 EPS. The company’s revenue was up 7.2% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, sell-side analysts expect that PPG Industries will post 7.89 EPS for the current year.

Institutional Investors Weigh In On PPG Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the business. QRG Capital Management Inc. increased its holdings in PPG Industries by 9.2% during the 2nd quarter. QRG Capital Management Inc. now owns 20,147 shares of the specialty chemicals company’s stock valued at $2,444,000 after purchasing an additional 1,695 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in PPG Industries by 6.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,012 shares of the specialty chemicals company’s stock valued at $244,000 after purchasing an additional 114 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in PPG Industries by 2.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 251,590 shares of the specialty chemicals company’s stock worth $30,515,000 after buying an additional 6,928 shares during the period. State Street Corp lifted its holdings in PPG Industries by 8.8% in the 2nd quarter. State Street Corp now owns 13,871,116 shares of the specialty chemicals company’s stock worth $1,682,428,000 after buying an additional 1,124,109 shares during the period. Finally, Archford Capital Strategies LLC bought a new stake in shares of PPG Industries in the 2nd quarter worth approximately $208,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

About PPG Industries

PPG Industries, Inc is a global manufacturer of paints, coatings and specialty materials. Founded in 1883 as Pittsburgh Plate Glass, the company originally produced plate glass and later expanded into coatings and related technologies. Today, PPG’s products are used to protect, decorate and improve the performance of vehicles, aircraft, buildings, industrial equipment and consumer goods.

PPG serves the automotive, aerospace, construction, industrial, marine, packaging and consumer-product markets.