The PPG Industries Inc. (PPG) Given Consensus Rating of “Hold” by Analysts

The PPG Industries Inc. (PPG) Given Consensus Rating of “Hold” by Analysts

Shares of PPG Industries Inc. (NYSE:PPG) have been assigned an average rating of “Hold” from the seventeen ratings firms that are covering the stock. Ten equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $110.70.

Several equities research analysts have commented on PPG shares. Goldman Sachs Group Inc. restated a “buy” rating and set a $111.00 price target (down from $119.00) on shares of PPG Industries in a research note on Thursday, October 13th. Jefferies Group restated a “buy” rating and set a $113.00 price target (down from $129.00) on shares of PPG Industries in a research note on Monday, October 24th. JPMorgan Chase & Co. set a $110.00 target price on PPG Industries and gave the company a “buy” rating in a research note on Monday, October 10th. Citigroup Inc. lowered their target price on PPG Industries from $131.00 to $112.00 and set a “buy” rating for the company in a research note on Tuesday, October 11th. Finally, Bank of America Corp. assumed coverage on PPG Industries in a research note on Monday, December 5th. They issued a “buy” rating for the company.

Shares of PPG Industries (NYSE:PPG) opened at 96.69 on Thursday. The firm has a 50-day moving average price of $96.23 and a 200-day moving average price of $99.87. PPG Industries has a 52 week low of $88.37 and a 52 week high of $117.00. The stock has a market cap of $25.53 billion, a PE ratio of 30.71 and a beta of 1.39.

A number of large investors have recently modified their holdings of the stock. Cornerstone Advisors Inc. raised its stake in shares of PPG Industries by 1,076.4% in the third quarter. Cornerstone Advisors Inc. now owns 1,047 shares of the company’s stock worth $108,000 after buying an additional 958 shares during the period. Penserra Capital Management LLC raised its stake in shares of PPG Industries by 95.6% in the third quarter. Penserra Capital Management LLC now owns 1,375 shares of the company’s stock worth $141,000 after buying an additional 672 shares during the period. Cable Hill Partners LLC raised its stake in shares of PPG Industries by 1.9% in the second quarter. Cable Hill Partners LLC now owns 1,346 shares of the company’s stock worth $142,000 after buying an additional 25 shares during the period. SRB Corp raised its stake in shares of PPG Industries by 11.0% in the third quarter. SRB Corp now owns 1,471 shares of the company’s stock worth $152,000 after buying an additional 146 shares during the period. Finally, SevenBridge Financial Group LLC raised its stake in shares of PPG Industries by 757.4% in the third quarter. SevenBridge Financial Group LLC now owns 1,852 shares of the company’s stock worth $171,000 after buying an additional 1,636 shares during the period. Hedge funds and other institutional investors own 71.34% of the company’s stock.

About PPG Industries

PPG Industries, Inc (PPG) manufactures and distributes a range of coatings, specialty materials and glass products. PPG operates through three business segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment consists of the refinish, aerospace, protective and marine, architectural-Americas and Asia Pacific, and architectural-EMEA coatings businesses.

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