At the last check on Friday, PPG Industries Inc.’s (NYSE:PPG) stock was up $1.27, moving up 0.92 percent to $139.34. The average number of shares traded per day over the past five days has been 1,128,335 shares. 1 time new highs have been achieved over the past 5 days, with a $2.44 gain in that time frame. In the last twenty days, the average volume was 1,681,049, while in the previous 50 days, it was 1,634,130.
Since last month, PPG stock retreated -6.93%. Shares of the company fell to $136.28 on 08/11/23, the lowest level in the past month. A 52-week high of $152.89 was reached on 07/18/23 after having rallying from a 52-week low of $107.40. Since the beginning of this year, PPG’s stock price has risen by 10.82% or $13.34, and marked a new high 23 times. However, the stock has declined by -8.86% since its 52-week high.
PPG stock investors should be aware that PPG Industries Inc. (PPG) stock had its last reported insider trading activity 17 days ago on Aug 01. Morales Vincent J, the Senior VP & CFO of the company, disposed of 3,700 shares for $143.33 on Aug 01. It resulted in a $530,321 divestment by the insider. MCGARRY MICHAEL H sold 58,378 shares at an average price of $145.46 on Jul 26. The insider now owns 195,706 shares following the transaction. On Jul 25, Executive Chairman MCGARRY MICHAEL H sold 105,000 shares at $147.59 apiece. The transaction was valued at $15,497,353.
Valuation Metrics
Right now, PPG Industries Inc. (PPG) has a P/E ratio of about 24.99. The stock’s beta is 1.18. Besides these, the trailing price-to-sales (P/S) ratio of 1.87, the price-to-book (PB) ratio of 4.32, and the price-to-cash flow ratio of 27.36 may also be considered.
The latest dividend of $0.65 per share was paid out, which is 4.84% more than last year’s $0.62. On Thursday July 20 2023, a $0.03 dividend increase was announced.
Financial Health
In the three months ended June 29, PPG Industries Inc.’s quick ratio stood at 1.00, while its current ratio was 1.50, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.80, and the total debt-to-equity ratio was 0.91. On the profitability front, the trailing twelve-month gross margin is 39.10% percent. In the year ended June 29, EBITDA margin amounted to 12.84%, whereas operating margins totaled 9.90%. Based on annual data, PPG earned $6.56 billion in gross profit and brought in $17.65 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 7.70%. Return on equity (ROE) for the past 12 months was 19.30%.
In PPG Industries Inc.’s quarter-end financial report for June 29, it reported total debt of $6.1 billion against cash and short-term investments of $68.0 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. PPG’s revenue rose 11.58% to $4.38 billion during the quarter, while net income inched up to $4.87 billion. While analysts expected PPG Industries Inc. to report $2.14 quarterly earnings, the actual figure was $2.25 per share, beating the consensus estimate by 5.10%. During the quarter, the company generated $827.0 million in EBITDA. The liabilities of PPG Industries Inc. were 14.42 billion at the end of its most recent quarter ended June 29, and its total debt was $7.75 billion. The value of shareholders’ equity is $235.51 million.
Technical Picture
This quick technical analysis looks at PPG Industries Inc.’s (PPG) price momentum. With a historical volatility rate of 21.75%, the RSI 9-day stood at 42.06% on 17 August.
With respect to its five-day moving average, the current PPG Industries Inc. price is up by +1.79% percent or $2.44. At present, PPG shares trade -6.88% below its 20-day simple moving average and +10.38% percent above its 100-day simple moving average. However, the stock is currently trading approximately -1.95% below its SMA50 and +21.81% above its SMA200.
Stochastic coefficient K was 19.37% and Stochastic coefficient D was 19.93%, while ATR was 2.80. Given the Stochastic reading of 27.70% for the 14-day period, the RSI (14) reading has been calculated as 42.29%. As of today, the MACD Oscillator reading stands at -0.86, while the 14-day reading stands at -1.99.
Analyst Ratings
Citigroup launched its rating on PPG Industries Inc. (NYSE: PPG) to a Buy in a note to investors on June 14, 2023. PPG Industries Inc. (PPG) has been rated Overweight by analysts. According to 1 brokerage firm, PPG is a sell, and 13 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 1 analyst rate PPG Industries Inc. stock as buy, with 13 recommending it as overweight.
With a median target price of $160.00, the current consensus forecast for the stock is $140.00 – $180.00. Based on these forecasts, analysts predict PPG Industries Inc. (PPG) will achieve an average price target of $161.14.
