PPG Industries (NYSE:PPG) Price Target Lowered to $155.00 at Deutsche Bank Aktiengesellschaft

PPG Industries (NYSE:PPG) had its target price reduced by Deutsche Bank Aktiengesellschaft from $160.00 to $155.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the specialty chemicals company’s stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 18.87% from the stock’s current price.

PPG has been the topic of a number of other reports. Barclays lowered shares of PPG Industries from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $163.00 to $149.00 in a research note on Tuesday, February 27th. Citigroup dropped their price objective on shares of PPG Industries from $170.00 to $161.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. KeyCorp dropped their price objective on shares of PPG Industries from $164.00 to $162.00 and set an “overweight” rating on the stock in a research note on Monday. Redburn Atlantic lowered shares of PPG Industries from a “buy” rating to a “neutral” rating and set a $160.00 price target on the stock. in a research note on Thursday, February 1st. Finally, Royal Bank of Canada dropped their price target on shares of PPG Industries from $158.00 to $156.00 and set a “sector perform” rating on the stock in a research note on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $155.50.

PPG Industries Price Performance

Shares of PPG opened at $130.40 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.47 and a quick ratio of 1.05. The stock has a market cap of $30.69 billion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 1.56 and a beta of 1.28. PPG Industries has a 1-year low of $120.32 and a 1-year high of $152.89. The firm has a fifty day moving average price of $140.00 and a 200 day moving average price of $138.97.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Friday, April 19th. The specialty chemicals company reported $1.86 EPS for the quarter, meeting analysts’ consensus estimates of $1.86. The company had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.43 billion. PPG Industries had a net margin of 7.74% and a return on equity of 23.13%. PPG Industries’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.82 earnings per share. As a group, sell-side analysts anticipate that PPG Industries will post 8.46 EPS for the current year.

PPG Industries declared that its Board of Directors has authorized a stock repurchase program on Thursday, April 18th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the specialty chemicals company to repurchase up to 8.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $140.94, for a total value of $479,196.00. Following the sale, the chief financial officer now owns 28,439 shares of the company’s stock, valued at $4,008,192.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is currently owned by company insiders.

Institutional Trading of PPG Industries

Institutional investors and hedge funds have recently modified their holdings of the business. OFI Invest Asset Management purchased a new stake in shares of PPG Industries in the third quarter valued at about $25,000. Valued Wealth Advisors LLC purchased a new stake in shares of PPG Industries in the fourth quarter valued at about $26,000. SJS Investment Consulting Inc. lifted its holdings in shares of PPG Industries by 588.5% in the fourth quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock valued at $27,000 after purchasing an additional 153 shares in the last quarter. Private Wealth Management Group LLC purchased a new stake in shares of PPG Industries in the fourth quarter valued at about $27,000. Finally, CVA Family Office LLC purchased a new stake in shares of PPG Industries in the fourth quarter valued at about $28,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

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.