Mizuho Cuts PPG Industries (NYSE:PPG) Price Target to $150.00

PPG Industries (NYSE:PPG - Get Free Report) had its price target lowered by analysts at Mizuho from $160.00 to $150.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an "outperform" rating on the specialty chemicals company's stock. Mizuho's target price would suggest a potential upside of 14.21% from the company's current price.

Other analysts have also issued reports about the stock. KeyCorp reduced their price objective on shares of PPG Industries from $162.00 to $153.00 and set an "overweight" rating for the company in a research note on Monday, July 22nd. BMO Capital Markets reduced their target price on PPG Industries from $165.00 to $161.00 and set an "outperform" rating for the company in a report on Monday, July 22nd. UBS Group upped their price target on PPG Industries from $140.00 to $142.00 and gave the company a "neutral" rating in a research report on Friday, July 19th. Royal Bank of Canada dropped their target price on PPG Industries from $140.00 to $139.00 and set a "sector perform" rating on the stock in a report on Tuesday, July 23rd. Finally, Barclays decreased their price target on shares of PPG Industries from $148.00 to $144.00 and set an "equal weight" rating for the company in a report on Monday, July 22nd. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $151.00.

PPG Industries Price Performance

NYSE:PPG traded up $0.98 during trading hours on Thursday, reaching $131.34. 2,104,948 shares of the company's stock were exchanged, compared to its average volume of 1,598,746. The company has a quick ratio of 1.05, a current ratio of 1.49 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $30.80 billion, a P/E ratio of 22.19, a price-to-earnings-growth ratio of 1.72 and a beta of 1.26. PPG Industries has a 12 month low of $118.07 and a 12 month high of $151.16. The business's 50-day simple moving average is $126.97 and its two-hundred day simple moving average is $129.27.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.02). The company had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The business's revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.07 earnings per share. Sell-side analysts expect that PPG Industries will post 8.24 EPS for the current fiscal year.

Institutional Investors Weigh In On PPG Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Financial Connections Group Inc. acquired a new position in PPG Industries during the second quarter valued at approximately $25,000. Riverview Trust Co bought a new position in PPG Industries in the 1st quarter worth $34,000. Rothschild Investment LLC acquired a new position in PPG Industries during the 2nd quarter worth $37,000. LRI Investments LLC bought a new stake in PPG Industries during the first quarter valued at about $53,000. Finally, DiNuzzo Private Wealth Inc. increased its stake in shares of PPG Industries by 103.6% in the first quarter. DiNuzzo Private Wealth Inc. now owns 399 shares of the specialty chemicals company's stock worth $58,000 after purchasing an additional 203 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.

About PPG Industries

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.