PPG Industries (NYSE:PPG) Change of Rating

Deutsche Bank cut the shares of Ppg Industries (NYSE:PPG) from a Buy rating to Hold rating in a note revealed to clients on Tuesday, 11 October. The financial company from today has $100.0 price target on firm.

According to data compiled by Thomson Reuters, PPG Industries (NYSE:PPG)’s stock is covered by 18 equity analysts across the Street, with 0 analysts giving it a Sell rating, 17 a Buy rating, while 3 consider it a Hold. The 12-month consensus target price for the stock is $124.33, which reflects an upside potential of 32.48% over the current price.

NYSE:PPG Price Chart & Trend

The stock price of PPG Industries has dropped 6.37% over the last 200 days, and is in weak down trend. In the last 50 and 100 days, PPG Industries is down 10.03% and down 11.79%, respectively. Our stocks momentum model is shown on the price chart below.

Source: RightEdge Systems, Yahoo Split & Dividend Adjusted Data and OctaFinance Trading Models

Institutional Ownership

Gallagher Fiduciary Advisors Llc had the largest stake with ownership of 442,195 shares as of q2 2015 for 47.84% of the fund portfolio. Alleghany Corp De is another bull as the investment manager who is possessing 1.35 million shares of PPG Industries or 5.3% of their fund portfolio. Further, Suvretta Capital Management Llc have 5.1% of their fund portfolio invested in the company for 941,100 shares. The France-based fund Natixis Asset Management revealed it had acquired a stake worth about 5.05% of the investment manager’s stock portfolio in PPG Industries. The Georgia-based fund Boulegeris Investments Inc. is also positive about the stock, possessing 354,498 shares or 4.96% of their fund portfolio.

PPG Industries (NYSE:PPG) Profile

PPG Industries, Inc. (PPG) manufactures and distributes a range of coatings, specialty materials and glass products. PPG operates through three business segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment consists of the refinish, aerospace, protective and marine, architectural-Americas and Asia Pacific, and architectural-EMEA coatings businesses.

PPG Industries (NYSE:PPG) traded up 0.13% on 11 October, hitting $93.85. A total of 3.25 million shares of the company’s stock traded hands. This is up from average of 1.49 million shares. PPG Industries has a 52 week low of $88.37 and a 52 week high of $117. The company has a market cap of $22.92 billion and a P/E ratio of 17.36.

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The post PPG Industries (NYSE:PPG) Rating Decreased to Hold at Deutsche Bank from Buy. The Company Has $100.0 Target Price appeared first on Octafinance.