BidaskClub Upgrades PPG Industries, Inc. (NYSE:PPG) to “Buy”

PPG Industries, Inc. (NYSE:PPG) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, July 19th.

Other equities research analysts also recently issued reports about the stock. TheStreet raised shares of PPG Industries from a “c+” rating to a “b+” rating in a research note on Monday, May 22nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $120.00 target price on shares of PPG Industries in a research note on Thursday, July 6th. Argus raised shares of PPG Industries from a “hold” rating to a “buy” rating and upped their target price for the stock from $110.61 to $136.00 in a research note on Wednesday, July 5th. Barclays PLC upped their target price on shares of PPG Industries from $110.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Monday, April 24th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $110.00 target price (up from $102.00) on shares of PPG Industries in a research note on Sunday, April 23rd. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. PPG Industries has an average rating of “Hold” and a consensus price target of $113.93.

Shares of PPG Industries (PPG) traded down 0.74% during trading on Wednesday, hitting $105.25. 1,568,506 shares of the stock were exchanged. The stock’s 50 day moving average price is $110.19 and its 200-day moving average price is $105.75. PPG Industries has a one year low of $89.64 and a one year high of $113.67. The company has a market cap of $26.99 billion, a price-to-earnings ratio of 27.69 and a beta of 1.56.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, July 20th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.83. The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.92 billion. PPG Industries had a net margin of 6.79% and a return on equity of 29.47%. The business’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.73 EPS. On average, analysts predict that PPG Industries will post $6.11 EPS for the current year.

ILLEGAL ACTIVITY WARNING: “[[title]]” was originally published by [[site]] and is the property of of [[site]]. If you are reading this piece on another site, it was copied illegally and republished in violation of U.S. and international copyright laws. The correct version of this piece can be read at [[permalink]].

A number of hedge funds have recently modified their holdings of PPG. Harbour Capital Advisors LLC increased its stake in PPG Industries by 10,896.0% in the second quarter. Harbour Capital Advisors LLC now owns 10,996 shares of the specialty chemicals company’s stock worth $100,000 after buying an additional 10,896 shares in the last quarter. Cable Hill Partners LLC increased its stake in PPG Industries by 8.5% in the first quarter. Cable Hill Partners LLC now owns 981 shares of the specialty chemicals company’s stock worth $103,000 after buying an additional 77 shares in the last quarter. Baystate Wealth Management LLC increased its stake in PPG Industries by 4.0% in the first quarter. Baystate Wealth Management LLC now owns 1,040 shares of the specialty chemicals company’s stock worth $109,000 after buying an additional 40 shares in the last quarter. V Wealth Management LLC bought a new position in PPG Industries during the second quarter worth approximately $112,000. Finally, State of Alaska Department of Revenue bought a new position in PPG Industries during the second quarter worth approximately $113,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has three segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.