PPG Industries (PPG) Gets a Hold Rating from Credit Suisse
Credit Suisse analyst Chris Parkinson maintained a Hold rating on PPG Industries (NYSE: PPG) today and set a price target of $115. The company’s shares closed yesterday at $109.58.
According to TipRanks.com, Parkinson is a 2-star analyst with an average return of 0.4% and a 54.5% success rate. Parkinson covers the Consumer Goods sector, focusing on stocks such as Air Products and Chemicals, Sherwin-Williams Company, and Ashland Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for PPG Industries with a $117.75 average price target.
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Based on PPG Industries’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $4.13 billion and net profit of $371 million. In comparison, last year the company earned revenue of $3.78 billion and had a net profit of $609 million.
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PPG Industries, Inc. engages in the manufacture and distribution of coatings, specialty materials, and glass products. It operates through the following business segments: Performance Coatings, Industrial Coatings, and Glass. The Performance Coatings segment comprises of the refinish, aerospace, protective and marine, and architectural coatings businesses.