PPG Industries (PPG) Received its Third Buy in a Row


After J.P. Morgan and RBC Capital gave PPG Industries (NYSE: PPG) a Buy rating last month, the company received another Buy, this time from Wells Fargo. Analyst Michael Sison maintained a Buy rating on PPG Industries today. The company’s shares closed last Tuesday at $107.52.

According to TipRanks.com, Sison is a 5-star analyst with an average return of 13.1% and a 64.3% success rate. Sison covers the Industrial Goods sector, focusing on stocks such as Air Products and Chemicals, Axalta Coating Systems, and Trinity Industries.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for PPG Industries with a $102.18 average price target, implying a -1.6% downside from current levels. In a report issued on May 22, J.P. Morgan also maintained a Buy rating on the stock with a $105.00 price target.

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Based on PPG Industries’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.38 billion and net profit of $243 million. In comparison, last year the company earned revenue of $3.62 billion and had a net profit of $312 million.

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PPG Industries, Inc. engages in the manufacture and distribution of coatings, specialty materials, and glass products. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment comprises of the refinish, aerospace, protective and marine, and architectural coatings businesses. The Industrial Coatings segment includes automotive OEM, industrial coatings, packaging coatings, and specialty coatings and materials businesses. The company was founded was founded by John B. Ford and John A. Pitcairn in 1883 and is headquartered in Pittsburgh, PA.

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