PPG Industries (PPG) was Downgraded by Deutsche Bank to ” Hold” while Lowering the Price Target of the company shares to $ 100 from a previous price target of $122 . Earlier the firm had a rating of “Buy ” on the company shares. Deutsche Bank advised their investors in a research report released on Oct 11, 2016.
Many Wall Street Analysts have commented on PPG Industries. Shares were Reiterated by RBC Capital Mkts on Oct 11, 2016 to “Outperform” and Lowered the Price Target to $ 106 from a previous price target of $125 .Company shares were Upgraded by Seaport Global Securities on Jul 26, 2016 to ” Buy”, Firm has raised the Price Target to $ 130 from a previous price target of $125 .
On the company’s financial health, PPG Industries reported $1.85 EPS for the quarter, based on the information available during the earnings call on Jul 21, 2016. Analyst had a consensus estimate of $1.85. The company had revenue of $4064.00 million for the quarter, compared to analysts expectations of $4165.29 million. The company’s revenue was down -.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.67 EPS.
PPG Industries closed down -8.46 points or -8.28% at $93.73 with 71,36,802 shares getting traded on Friday. Post opening the session at $97.19, the shares hit an intraday low of $92.51 and an intraday high of $97.5 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Aug 8, 2016, Timothy M Knavish (Sr. VP, Automotive Coatings) sold 9,300 shares at $104.08 per share price. According to the SEC, on Jul 28, 2016, Viktoras R Sekmakas (Executive Vice President) sold 40,950 shares at $106.64 per share price. On Mar 1, 2016, Charles E Bunch (Executive Chairman of Board) sold 46,286 shares at $98.17 per share price, according to the Form-4 filing with the securities and exchange commission.
PPG Industries Inc. (PPG) manufactures and distributes a range of coatings optical and specialty materials and glass products. The Company operates business through three segments: Performance Coatings Industrial Coatings and Glass. The Performance Coatings segment consists of the refinish aerospace architectural coatings-Americas and Asia Pacific architectural coatings-EMEA and protective and marine coatings operating businesses. It primarily supplies a range of protective and decorative coatings sealants and finishes along with paint strippers stains and related chemicals. The Industrial Coatings segment consists of the automotive original equipment manufacturer (OEM) coatings industrial coatings packaging coatings and the specialty coatings and materials operating businesses. The Glass segment consists of the flat glass and fiber glass businesses. It supplies flat glass and continuous-strand fiber glass products.