The stock of PPG Industries Inc. (NYSE:PPG) decreased by -$0.28 on Tuesday to finish at $132.21, down -0.21 percent. The last five days have seen an average of 1,370,020 shares of common stock traded. 23 times new highs were reached in the current year, with a gain of $6.47. The average number of shares traded over the last 20 days was 1,314,470, while the average volume over the last 50 days totaled 1,532,424.
PPG stock dropped -5.25% since last month. On 09/19/23, the company’s shares reached a one-month low of $130.34. The stock touched a high of $152.89 on 07/18/23, after rallying from a low of $107.40 in 52 weeks. The price of PPG stock has risen by 5.15% or $6.47 this year, reaching a new high 23 times. Still, the stock price is down -13.53% from the 52-week high.
Insider Transactions
PPG stock investors should be aware that PPG Industries Inc. (PPG) stock had its last reported insider trading activity 50 days ago on Aug 01. On Aug 01, Senior VP & CFO Morales Vincent J sold 3,700 shares at $143.33 each. This transaction resulted in the insider making $530,321. On Jul 26, MCGARRY MICHAEL H sold 58,378 shares at a price of US$145.46. After the transaction, the insider now owns 195,706 shares. Executive Chairman MCGARRY MICHAEL H had earlier sold 105,000 shares on Jul 25 for $147.59 a share. The transaction was completed for $15,497,353.
Valuation Metrics
PPG Industries Inc. (PPG) has a trailing price-to-earnings (P/E) ratio of 23.71. Beta for the stock is 1.19. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.75, the price-to-book (PB) ratio of 4.10, and the price-to-cash flow ratio of 25.55.
Company paid $0.65 per share in dividends, an increase of 4.84% from $0.62 last year. A $0.03 dividend increase was reported on Thursday July 20 2023.
Financial Health
For the three months ended June 29, PPG Industries Inc.’s quick ratio was 1.00, while its current ratio was 1.50, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.80, and the total debt to equity ratio is 0.91. As far as profitability goes, gross margin for the trailing twelve months is 39.10% percent. PPG Industries Inc.’s EBITDA margin for the year ended June 29 was 12.84%, whereas its operating margin stood at 9.90% for the same period. Based on annual data, it had gross profit of $6.56 billion and revenue of $17.65 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. PPG’s return on assets (ROA) during the last 12 months has been 6.10%. There was a 7.70% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 19.30%.
Earnings Surprise
According to PPG Industries Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $4.87 billion, while revenues rose by 3.72% to $4.38 billion. It was predicted that PPG Industries Inc.’s quarterly earnings would be $2.25, but it ended up being $2.14, beating the consensus by 5.10%. EBITDA was $827.0 million for the quarter. At the end of PPG Industries Inc.’s most recent quarter ended June 29, its liabilities totaled 14.42 billion, while its total debt was $7.75 billion. Equity owned by shareholders amounts to $235.51 million.
Technical Picture
Here’s a quick look at PPG Industries Inc.’s (PPG) price momentum from a technical perspective. As of 19 September, the RSI 9-day stood at 29.57%, suggesting the stock is oversold, with a 11.92% historical volatility rate.
The stochastic %K and %D were 9.54% and 10.71% respectively, while the average true range (ATR) was 2.15. Based on the 14-day stochastic reading of 14.33%, the RSI (14) reading is 33.53%. On the 9-day MACD Oscillator, the stock is at -1.38, and the 14-day reading is at -3.40.
Analyst Ratings
In its analyst report released on June 14, 2023, Citigroup began covering PPG Industries Inc. (NYSE: PPG). The stock was rated as a Buy by the brokerage firm. Analysts have assigned PPG Industries Inc. (PPG) an Overweight rating. PPG is a stock that is recommended for selling by 0 brokerage firms, while 13 companies recommend holding. The stock is underweighted by 1 analyst. Among the analysts who rate the stock, 1 rate it overweight and 13 others recommend it as a buy.
What is PPG’s price target for the next 12 months?
The current consensus forecast for the stock is between $143.00 and $180.00, with a median target price of $160.00. In analyzing these forecasts, the average price target given by analysts for PPG Industries Inc. (PPG) is $161.58.
