Evercore ISI Cuts PPG Industries (NYSE:PPG) Price Target to $112.00

PPG Industries (NYSE:PPG) had its price target lowered by analysts at Evercore ISI from $145.00 to $112.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “in-line” rating on the specialty chemicals company’s stock. Evercore ISI’s target price points to a potential upside of 17.14% from the company’s current price.

A number of other brokerages have also weighed in on PPG. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PPG Industries in a research note on Friday, October 31st. JPMorgan Chase & Co. upgraded shares of PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 price objective for the company in a report on Thursday, October 16th. Royal Bank Of Canada upped their target price on PPG Industries from $115.00 to $117.00 and gave the stock a “sector perform” rating in a report on Friday, August 1st. Citigroup decreased their target price on PPG Industries from $124.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, October 6th. Finally, Mizuho dropped their price target on PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $123.18.

PPG Industries Trading Down 0.3%

NYSE PPG traded down $0.32 on Tuesday, hitting $95.61. The company’s stock had a trading volume of 115,396 shares, compared to its average volume of 1,996,292. The firm has a market cap of $21.45 billion, a P/E ratio of 21.66, a PEG ratio of 2.13 and a beta of 1.19. PPG Industries has a 52-week low of $90.24 and a 52-week high of $130.05. The company’s 50-day simple moving average is $103.71 and its 200 day simple moving average is $108.87. The company has a current ratio of 1.47, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76.

PPG Industries (NYSE:PPG) last announced its earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.04. The company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.06 billion. PPG Industries had a return on equity of 24.17% and a net margin of 6.35%.The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.13 earnings per share. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. Research analysts predict that PPG Industries will post 7.95 EPS for the current fiscal year.

Institutional Investors Weigh In On PPG Industries

Hedge funds have recently added to or reduced their stakes in the stock. Capital Advisors Ltd. LLC raised its position in shares of PPG Industries by 127.6% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock worth $25,000 after purchasing an additional 125 shares during the last quarter. Cheviot Value Management LLC bought a new stake in PPG Industries during the 1st quarter valued at about $26,000. Steigerwald Gordon & Koch Inc. purchased a new position in PPG Industries in the third quarter worth about $26,000. Headlands Technologies LLC bought a new position in shares of PPG Industries in the first quarter worth approximately $30,000. Finally, Root Financial Partners LLC bought a new stake in shares of PPG Industries during the third quarter valued at approximately $30,000. 81.86% of the stock is owned by institutional investors.

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.