In a report released today, Michael Leithead from Barclays downgraded PPG Industries (PPG – Research Report) to a Hold, with a price target of $149.00. The company’s shares closed yesterday at $142.34.
Leithead covers the Basic Materials sector, focusing on stocks such as Olin, PPG Industries, and Sherwin-Williams Company. According to TipRanks, Leithead has an average return of 5.8% and a 58.38% success rate on recommended stocks.
Currently, the analyst consensus on PPG Industries is a Moderate Buy with an average price target of $163.10.
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Based on PPG Industries’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $4.35 billion and a net profit of $90 million. In comparison, last year the company earned a revenue of $4.19 billion and had a net profit of $238 million
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PPG Industries (PPG) Company Description:
Pennsylvania-based PPG Industries, Inc. manufactures and distributes paints, coatings, and specialty materials. It operates through two segments: Performance Coatings and Industrial Coatings.
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