PPG Industries Receives a Rating Update from a Top Analyst

By Ryan Adsit

In a report released yesterday, Laurence Alexander from Jefferies reiterated a Buy rating on PPG Industries (NYSE: PPG), with a price target of $120. The company’s shares closed yesterday at $106.30.

According to TipRanks.com, Alexander is a top 100 analyst with an average return of 13.8% and a 71.0% success rate. Alexander covers the Consumer Goods sector, focusing on stocks such as Air Products and Chemicals, Sherwin-Williams Company, and GCP Applied Technologies.

PPG Industries has an analyst consensus of Moderate Buy, with a price target consensus of $116.17.

Based on PPG Industries’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $3.81 billion and quarterly net profit of $501 million. In comparison, last year the company earned revenue of $4.06 billion and had a net profit of $370 million.

Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is negative on the stock. Last month, Glenn Bost, the Sr. VP & Gen. Counsel of PPG sold 19,812 shares for a total of $1,996,851.

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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.