Bank of America Reiterates Neutral Rating for PPG Industries (NYSE:PPG)

PPG Industries (NYSE:PPG - Get Free Report)'s stock had its "neutral" rating reaffirmed by investment analysts at Bank of America in a report released on Tuesday, MarketBeat.com reports. They currently have a $126.00 target price on the specialty chemicals company's stock, down from their previous target price of $143.00. Bank of America's price target suggests a potential upside of 25.99% from the company's current price.

A number of other research analysts also recently issued reports on PPG. Deutsche Bank Aktiengesellschaft reduced their price objective on PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. Wells Fargo & Company dropped their price target on shares of PPG Industries from $130.00 to $115.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Citigroup lowered their price objective on shares of PPG Industries from $135.00 to $113.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Mizuho dropped their target price on PPG Industries from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. Finally, Argus cut shares of PPG Industries from a "buy" rating to a "hold" rating in a research note on Monday, March 10th. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $132.31.

PPG Industries Trading Up 1.6 %

PPG traded up $1.58 during trading on Tuesday, reaching $100.00. 2,240,529 shares of the stock traded hands, compared to its average volume of 1,801,972. PPG Industries has a 12 month low of $90.24 and a 12 month high of $137.24. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The stock's 50-day moving average is $109.37 and its 200 day moving average is $118.04. The stock has a market capitalization of $22.70 billion, a PE ratio of 21.14, a P/E/G ratio of 2.19 and a beta of 1.16.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. Equities analysts anticipate that PPG Industries will post 7.95 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Timothy M. Knavish sold 4,800 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the sale, the chief executive officer now directly owns 35,833 shares in the company, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PPG Industries

Large investors have recently made changes to their positions in the stock. Park Square Financial Group LLC acquired a new position in shares of PPG Industries during the 4th quarter valued at about $26,000. Legend Financial Advisors Inc. acquired a new stake in shares of PPG Industries during the 4th quarter worth approximately $27,000. CVA Family Office LLC raised its position in shares of PPG Industries by 70.6% during the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock valued at $30,000 after buying an additional 113 shares during the period. Prudent Man Investment Management Inc. acquired a new position in PPG Industries in the fourth quarter valued at approximately $36,000. Finally, Albion Financial Group UT acquired a new stake in PPG Industries during the fourth quarter worth $38,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

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.