UBS Group Maintains 'Neutral' Rating on PPG Industries Stock with a Lowered Target Price

UBS Group has reaffirmed their 'neutral' rating for PPG Industries (NYSE:PPG), a company specializing in chemicals, with a revised target price of $156.00, marking a decrease from their previous target of $173.00. Despite this adjustment, UBS Group's new target suggests a potential 10.83% increase from the closing price of the stock prior to the announcement.

Analyst Perspectives

PPG Industries has garnered varied opinions from financial analysts. While Robert W. Baird has given the stock an 'outperform' rating with a $150.00 price target, Wolfe Research recently started covering the company, assigning a 'peer perform' rating. Other analyst firms such as Royal Bank of Canada and Barclays have adjusted their price targets and ratings, reflecting a mix of outlooks on the company's future performance. In total, PPG Industries has received one 'sell' rating, seven 'hold' ratings, and nine 'buy' ratings, leading to an overall consensus of a 'Hold' according to MarketBeat.com, with an average price target of $157.13.

Stock Performance and Earnings

On the day of the report, PPG Industries' shares opened at $140.75. The company's stock has seen a 52-week range between $120.32 and $152.89, with a market cap of $33.11 billion. With a price-to-earnings (PE) ratio of 26.36 and a PEG ratio of 1.38, PPG shows a stable financial status, underlined by its debt-to-equity ratio of 0.72. Furthermore, the company maintains a positive earnings trend with its last quarterly report showing a $1.53 earnings per share, surpassing the consensus estimate by $0.04.

Insider Transactions and Institutional Investments

In recent news, PPG Industries' CFO Vincent J. Morales sold 3,400 shares, and corporate insiders currently own 0.55% of the company's stock. In parallel, institutional investors and hedge funds have been actively adjusting their holdings in PPG Industries, with some new stakes being acquired and others being increased in the recent quarters.

About PPG Industries

PPG Industries is recognized globally for manufacturing and distributing a range of paints, coatings, and specialty materials. The company's operations are primarily split between Performance Coatings and Industrial Coatings, serving sectors from automotive to aeronautics with a variety of products and services.

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