Barclays analyst Michael Leithead maintained a Hold rating on PPG Industries (PPG – Research Report) today and set a price target of $149.00. The company’s shares closed yesterday at $135.11.
According to TipRanks, Leithead is a 4-star analyst with an average return of 5.5% and a 59.47% success rate. Leithead covers the Basic Materials sector, focusing on stocks such as Olin, PPG Industries, and Eastman Chemical.
In addition to Barclays, PPG Industries also received a Hold from UBS’s Joshua Spector in a report issued yesterday. However, on the same day, Wells Fargo maintained a Buy rating on PPG Industries (NYSE: PPG).
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
Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PPG in relation to earlier this year.
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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.
Read More on PPG:
- PPG Stock Falls as Revenue Misses Forecasts; Announces $2.5B Buyback
- PPG Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Wells Fargo upgraded PPG to Overweight, sees Q2 as turning point for volume
- PPG upgraded to Overweight from Equal Weight at Wells Fargo
- PPG price target lowered to $161 from $170 at Citi
