Monthly Stock Report: PPG Industries, Inc.
Publication Date: September 22, 2024
Company Overview
PPG Industries, Inc. (PPG) is a leading manufacturer and distributor of paints, coatings, and specialty materials, headquartered in Pittsburgh, Pennsylvania. With a robust global footprint across the Americas, Europe, the Middle East, and Asia Pacific, PPG operates through two main segments: Performance Coatings and Industrial Coatings. The company provides a diverse array of products, including automotive and aviation coatings, adhesives, sealants, and specialty materials catering to various industries such as construction and consumer electronics. Established in 1883, PPG has established itself as a pillar in the Basic Materials sector within the Specialty Chemicals industry, showcasing a history of innovation and market leadership that attracts investors looking for stability and growth.
Financial Performance and Analyst Outlook
As of the latest figures, PPG Industries reported a total revenue of approximately $18.1 billion, reinforcing its strong presence in the market. The stock is currently trading at $126.50, with analysts projecting a target high price of $166.00, suggesting a potential upside of about 31.4%. The mean target price stands at $150.39, indicating a more conservative increase potential of approximately 18.8%. Analysts recommend a “buy” strategy, reflected in a mean rating of 2.2 based on 21 analyst opinions. The stock’s stable share structure, with only a 0.0137 short percentage and a total of 233.3 million shares outstanding, points to a lack of bearish sentiment, further instilling confidence in its performance.
Stock Movement and Volatility
PPG’s stock currently trades slightly above its fifty-day moving average of $125.73, indicating upward momentum. The stock has experienced a fifty-two week high of $151.16 and a low of $118.07, showcasing its volatility over the past year. This range reflects potential recovery from lower bounds, suggesting cautious optimism among investors as they evaluate market conditions. Overall, PPG Industries’ performance metrics and analyst outlook support a favorable investment narrative, making it an intriguing option for potential investors seeking opportunities in the specialty chemicals sector.
| Metric | Value |
|---|---|
| Market Cap | $29.5b |
| Total Debt | $7.2b |
| Total Cash | $1.2b |
| Shares Outstanding | 233.3m |
| Float Shares | 232.5m |
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