PPG Industries Inc. (NYSE:PPG) saw an upside of 0.15% to $143.48 after adding $0.22 on Tuesday. The 5-day average trading volume is 1,420,558 shares of the company’s common stock. It has gained $144.49 in the past week and touched a new high 3 times within the past 5 days. An average of 1,792,089 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,627,380.
PPG’s 1-month performance is -2.99% or -$3.40 on its low of $139.92 reached on 08/03/23. The company’s shares have touched a 52-week low of $107.40 and high of $152.89, with the stock’s rally to the 52-week high happening on 07/18/23. YTD, PPG has achieved 14.11% or $17.63 and has reached a new high 23 times. However, the current price is down -6.15% from the 52-week high price.
Insider Transactions
PPG stock investors last saw insider trading activity on Aug 01.Morales Vincent J (Senior VP & CFO) most recently sold 3,700 shares at $143.33 per share on Aug 01. This transaction cost the insider $530,321. Executive Chairman, MCGARRY MICHAEL H, sold 58,378 shares at a price of $145.46 on Jul 26. Then, on Jul 25, Executive Chairman MCGARRY MICHAEL H sold 105,000 shares at a price of $147.59 per share. This transaction amounted to $15,497,353.
Valuation Metrics
PPG stock has a beta of 1.18. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.88 while the price-to-book (PB) in the most recent quarter is 4.45, with the price to cash flow ratio at 52.61.
PPG Industries Inc.’s quick ratio for the period ended June 29 was 1.00, with the current ratio over the same period at 1.50. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.80, while the total debt to equity was 0.91. In terms of profitability, the gross margin trailing 12 months is 39.10%. The firm’s gross profit as reported stood at $6.56 billion against revenue of $17.65 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, PPG Industries Inc.’s cash and short-term investments amounted to $68.0 million against total debt of $7.75 billion. Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 96.33% to $490.0 million, while revenue of $264.0 million was 46.12% off the previous quarter. Analysts expected PPG to announce $2.14 per share in earnings in its latest quarter, but it posted $2.25, representing a 5.10% surprise. EBITDA for the quarter stood at more than $827.0 million. PPG stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 14.42 billion, with total debt at $7.75 billion. Shareholders hold equity totaling $235.51 million.
Let’s look briefly at PPG Industries Inc. (PPG) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 07 August was 44.56% to suggest the stock is trending Neutral, with historical volatility in this time period at 20.23%.
The stock’s 5-day moving average is $141.85, reflecting a -1.50% or -$2.18 change from its current price. PPG is currently trading -4.79% above its 20-day SMA, +14.30% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +7.76% and SMA200 by+25.06%.
Stochastic %K and %D was 19.52% and 11.39% and the average true range (ATR) pointed at 3.13. The RSI (14) points at 46.05%, while the 14-day stochastic is at 27.21% with the period’s ATR at 3.08. The stock’s 9-day MACD Oscillator is pointing at -0.81 and -2.39 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for PPG Industries Inc. (NYSE: PPG), Citigroup launched coverage with a Buy rating. Analysts offering their rating for PPG stock have a consensus rating for the stock as Overweight. Currently, 1 brokerage advisors rate PPG as a “sell,”, while 14 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 1 rates the stock as overweight while 13 have offered a “buy” rating.
What is PPG’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $140.00 and a high of $180.00, with their median price target at $160.00. Looking at these predictions, the average price target given by analysts is for PPG Industries Inc. (PPG) stock is $159.93.
