Northcoast Research Believes PPG Industries (NYSE: PPG) Still Has Room to Grow

By Ryan Adsit

In a report released yesterday, Kevin Hocevar from Northcoast Research reiterated a Buy rating on PPG Industries (NYSE: PPG), with a price target of $128. The company’s shares closed yesterday at $118.44, close to its 52-week high of $122.07.

According to TipRanks.com, Hocevar is a 4-star analyst with an average return of 17.5% and a 85.2% success rate. Hocevar covers the Consumer Goods sector, focusing on stocks such as Koppers Holdings Inc, Mohawk Industries, and RPM International.

PPG Industries has an analyst consensus of Moderate Buy, with a price target consensus of $124.70.

Based on PPG Industries’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $3.68 billion and quarterly net profit of $184 million. In comparison, last year the company earned revenue of $3.5 billion and had a GAAP net loss of $77 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.