PPG Industries (NYSE:PPG) Downgraded to “Neutral” Rating by JPMorgan Chase & Co.

PPG Industries (NYSE:PPG) was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. They presently have a $115.00 price target on the specialty chemicals company’s stock, down from their prior price target of $145.00. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 0.08% from the stock’s previous close.

PPG has been the subject of a number of other reports. UBS Group cut their target price on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a report on Friday, January 31st. KeyCorp lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Mizuho dropped their price objective on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. BMO Capital Markets reaffirmed an “outperform” rating and set a $155.00 price objective (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Finally, Royal Bank of Canada dropped their price objective on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 4th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $138.15.

PPG Industries Trading Up 0.7 %

PPG Industries stock opened at $114.91 on Wednesday. The stock has a market cap of $26.66 billion, a P/E ratio of 24.29, a PEG ratio of 1.97 and a beta of 1.23. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. PPG Industries has a 1 year low of $110.20 and a 1 year high of $145.60. The firm’s 50 day moving average price is $119.80 and its 200-day moving average price is $123.73.

PPG Industries (NYSE:PPG) 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 the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. On average, equities analysts predict that PPG Industries will post 7.96 earnings per share for the current fiscal year.

Institutional Trading of PPG Industries

Institutional investors and hedge funds have recently made changes to their positions in the company. Legend Financial Advisors Inc. bought a new stake in shares of PPG Industries in the fourth quarter valued at about $27,000. Pin Oak Investment Advisors Inc. raised its holdings in shares of PPG Industries by 465.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 200 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of PPG Industries in the third quarter valued at about $34,000. Hara Capital LLC bought a new stake in shares of PPG Industries in the third quarter valued at about $40,000. Finally, Albion Financial Group UT bought a new stake in shares of PPG Industries in the fourth quarter valued at about $38,000. 81.86% of the stock is currently owned by 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.