PPG Industries, Inc. (PPG) Given Buy Rating at Jefferies Group LLC

PPG Industries, Inc. (NYSE:PPG)‘s stock had its “buy” rating reaffirmed by research analysts at Jefferies Group LLC in a report released on Thursday. They presently have a $120.00 target price on the specialty chemicals company’s stock. Jefferies Group LLC’s price target suggests a potential upside of 6.31% from the stock’s current price.

Several other analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of PPG Industries from a “hold” rating to a “sell” rating in a research note on Tuesday. Citigroup Inc. boosted their price objective on shares of PPG Industries from $112.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, October 2nd. Royal Bank Of Canada reissued a “hold” rating and issued a $109.00 price objective on shares of PPG Industries in a research note on Wednesday, September 13th. Robert W. Baird reissued a “buy” rating and issued a $115.00 price objective on shares of PPG Industries in a research note on Friday, September 1st. Finally, KeyCorp reaffirmed a “buy” rating and set a $125.00 price target on shares of PPG Industries in a research report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. PPG Industries currently has a consensus rating of “Hold” and a consensus target price of $115.67.

PPG Industries (NYSE PPG) opened at 112.88 on Thursday. The company has a market capitalization of $28.95 billion, a price-to-earnings ratio of 29.70 and a beta of 1.55. The stock has a 50 day moving average price of $108.81 and a 200 day moving average price of $107.84. PPG Industries has a 52-week low of $89.64 and a 52-week high of $114.15.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, July 20th. The specialty chemicals company reported $1.83 earnings per share for the quarter, hitting the consensus estimate of $1.83. PPG Industries had a net margin of 6.79% and a return on equity of 29.47%. The company had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the previous year, the firm posted $1.73 earnings per share. PPG Industries’s revenue for the quarter was up .6% on a year-over-year basis. Analysts anticipate that PPG Industries will post $5.97 EPS for the current fiscal year.

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In other news, VP Glenn E. Bost II sold 19,812 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $100.80, for a total transaction of $1,997,049.60. Following the transaction, the vice president now owns 52,748 shares in the company, valued at $5,316,998.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Viktoras R. Sekmakas sold 18,616 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $102.49, for a total transaction of $1,907,953.84. Following the transaction, the insider now owns 15,545 shares in the company, valued at approximately $1,593,207.05. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of PPG Industries by 1.6% during the second quarter. Vanguard Group Inc. now owns 19,751,232 shares of the specialty chemicals company’s stock valued at $2,171,845,000 after purchasing an additional 310,086 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of PPG Industries by 1.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 18,544,989 shares of the specialty chemicals company’s stock valued at $1,948,708,000 after purchasing an additional 216,278 shares during the period. BlackRock Inc. raised its holdings in shares of PPG Industries by 2,006.8% during the first quarter. BlackRock Inc. now owns 14,595,371 shares of the specialty chemicals company’s stock valued at $1,533,684,000 after purchasing an additional 13,902,595 shares during the period. Clearbridge Investments LLC raised its holdings in shares of PPG Industries by 4.7% during the first quarter. Clearbridge Investments LLC now owns 4,991,865 shares of the specialty chemicals company’s stock valued at $524,545,000 after purchasing an additional 222,376 shares during the period. Finally, Lazard Asset Management LLC raised its holdings in shares of PPG Industries by 639.5% during the first quarter. Lazard Asset Management LLC now owns 4,213,143 shares of the specialty chemicals company’s stock valued at $442,716,000 after purchasing an additional 3,643,443 shares during the period. Hedge funds and other institutional investors own 73.93% 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 two segments: Performance Coatings and Industrial Coatings. 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.

Analyst Recommendations for PPG Industries (NYSE:PPG)

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