Equities research analysts at Wells Fargo & Co. (NYSE: WFC) initiated coverage on shares of PPG (NYSE: PPG) in a research note issued to investors on Tuesday. They set an “outperform” rating on the stock.
Separately, analysts at Barclays Capital (NYSE: BCS) initiated coverage on shares of PPG in a research note to investors on Wednesday, August 31st. They set an “equal weight” rating and a $85.00 price target on the stock. Also, analysts at Goldman Sachs (NYSE: GS) raised their EPS on shares of PPG in a research note to investors on Monday, April 4th. They now have a “buy” rating and a $111.00 price target on the stock.
PPG Industries, Inc. (PPG) is a global supplier of protective and decorative coatings. The Company operates in six segments: Performance Coatings, Industrial Coatings, Architectural Coatings, Optical and Specialty Materials, Commodity Chemicals and Glass. The Performance Coatings, Industrial Coatings and Architectural Coatings segments supply protective and decorative finishes for customers in a range of end use markets, including industrial equipment, appliances and packaging; factory-finished aluminum extrusions and steel and aluminum coils; marine and aircraft equipment; automotive original equipment, and other industrial and consumer products. In addition to supplying finishes to the automotive original equipment market, PPG supplies refinishes to the automotive aftermarket.
PPG last announced its quarterly results on Thursday, July 21st. The company reported $2.12 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $2.03 EPS by $0.09. The company’s quarterly revenue was up 15.3% on a year-over-year basis. On average, analysts predict that PPG will post $1.48 EPS next quarter.
Shares of PPG traded up 2.09% during mid-day trading on Wednesday, hitting $74.65. PPG has a 52 week low of $68.70 and a 52 week high of $97.81. The stock’s 50-day moving average is $76.40 and its 200-day moving average is $86.23. The company has a market cap of $11.759 billion and a price-to-earnings ratio of 11.54.