PPG Industries Gets a Buy Rating from Jefferies

By Carrie Williams

Jefferies analyst Laurence Alexander reiterated a Buy rating on PPG Industries (NYSE: PPG) today and set a price target of $120. The company’s shares opened today at $107.24.

According to TipRanks.com, Alexander is a 5-star analyst with an average return of 10.6% and a 63.6% success rate. Alexander covers the Basic Materials sector, focusing on stocks such as Air Products and Chemicals, Commercial Metals Company, and Sherwin-Williams Company.

PPG Industries has an analyst consensus of Strong Buy, with a price target consensus of $118.

Based on PPG Industries’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $3.57 billion and quarterly net profit of $334 million. In comparison, last year the company earned revenue of $3.67 billion and had a net profit of $347 million.

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PPG Industries, Inc. engages in the manufacture and distribution of coatings, specialty materials, and glass products. It operates its business through the following segments: Performance Coatings, Industrial Coatings, and Glass. 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 Glass segment deals with the flat glass and fiber glass businesses. The company was founded was founded by John B. Ford and John A. Pitcairn in 1883 and is headquartered in Pittsburgh, PA.