Evercore ISI lifts PPG Industries Inc. [PPG] price estimate. Who else is bullish?

PPG Industries Inc. [NYSE: PPG] surged by $6.05 during the normal trading session on Thursday and reaching a high of $136.51 during the day while it closed the day at $134.99. The company report on October 8, 2020 that PPG Projects Strong Third Quarter Financial Results.

PPG (NYSE:PPG) today announced that its third quarter 2020 adjusted earnings per diluted share is expected to be between $1.90 and $1.94. This compares to adjusted earnings per diluted share of $1.67 in the third quarter of 2019. In addition, the company now anticipates that sales volumes versus the third quarter 2019 will be down about 5%, which is below the lower-end of the previously communicated guidance range of down 6% to 11%. These results include strong year-over-year sales volume growth in PPG’s global architectural coatings businesses.

The better than expected quarterly financial results were driven by improving demand in several end-use markets resulting in higher sales volumes, coupled with continued, aggressive cost management actions. These factors are generating higher year-over-year operating margins within both of PPG’s reportable business segments.

PPG Industries Inc. stock has also gained 10.85% of its value over the past 7 days. However, PPG stock has inclined by 26.11% in the 3 months of the year. Over the past six months meanwhile, it has gained 38.92% and gained 1.12% year-on date.

The market cap for PPG stock reached $31.47 billion, with 236.60 million shares outstanding and 234.97 million shares in the current float. Compared to the average trading volume of 1.41M shares, PPG reached a trading volume of 3160847 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about PPG Industries Inc. [PPG]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PPG shares is $129.08 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PPG stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Evercore ISI have made an estimate for PPG Industries Inc. shares, keeping their opinion on the stock as In-line, with their previous recommendation back on September 22, 2020. The new note on the price target was released on July 20, 2020, representing the official price target for PPG Industries Inc. stock. Previously, the target price had yet another raise from $121 to $125, while BMO Capital Markets kept a Outperform rating on PPG stock. On May 06, 2020, analysts increased their price target for PPG shares from 93 to 100.

The Average True Range (ATR) for PPG Industries Inc. is set at 3.79, with the Price to Sales ratio for PPG stock in the period of the last 12 months amounting to 2.27. The Price to Book ratio for the last quarter was 6.61, with the Price to Cash per share for the same quarter was set at 9.85. Price to Free Cash Flow for PPG in the course of the last twelve months was 29.52 with Quick ratio for the last quarter at 1.00.

PPG stock trade performance evaluation

PPG Industries Inc. [PPG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.85. With this latest performance, PPG shares gained by 7.70% in over the last four-week period, additionally plugging by 38.92% over the last 6 months – not to mention a rise of 17.81% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PPG stock in for the last two-week period is set at 69.89, with the RSI for the last a single of trading hit 76.34, and the three-weeks RSI is set at 67.11 for PPG Industries Inc. [PPG]. The present Moving Average for the last 50 days of trading for this stock 120.82, while it was recorded at 127.53 for the last single week of trading, and 109.32 for the last 200 days.

PPG Industries Inc. [PPG]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and PPG Industries Inc. [PPG] shares currently have an operating margin of +11.95 and a Gross Margin at +38.99. PPG Industries Inc.’s Net Margin is presently recorded at +8.21.

Return on Total Capital for PPG is now 17.24, given the latest momentum, and Return on Invested Capital for the company is 12.79. Return on Equity for this stock inclined to 25.08, with Return on Assets sitting at 7.37. When it comes to the capital structure of this company, PPG Industries Inc. [PPG] has a Total Debt to Total Equity ratio set at 110.60. Additionally, PPG Total Debt to Total Capital is recorded at 52.52, with Total Debt to Total Assets ending up at 33.00. Long-Term Debt to Equity for the company is recorded at 97.67, with the Long-Term Debt to Total Capital now at 46.38.

Reflecting on the efficiency of the workforce at the company, PPG Industries Inc. [PPG] managed to generate an average of $26,113 per employee. Receivables Turnover for the company is 5.41 with a Total Asset Turnover recorded at a value of 0.90.PPG Industries Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.40.

Earnings per share (EPS) analysis for PPG Industries Inc. [PPG] stock

With the latest financial reports released by the company, PPG Industries Inc. posted 1.67/share EPS, while the average EPS was predicted by analysts to be reported at 1.61/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 3.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PPG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for PPG Industries Inc. go to 4.66%.

PPG Industries Inc. [PPG]: Insider Ownership positions

There are presently around $24,720 million, or 78.90% of PPG stock, in the hands of institutional investors. The top three institutional holders of PPG stocks are: VANGUARD GROUP INC with ownership of 19,713,691, which is approximately -4.387% of the company’s market cap and around 0.42% of the total institutional ownership; BLACKROCK INC., holding 18,779,548 shares of the stock with an approximate value of $2.54 billion in PPG stocks shares; and MASSACHUSETTS FINANCIAL SERVICES CO /MA/, currently with $2.46 billion in PPG stock with ownership of nearly -13.822% of the company’s market capitalization.

Positions in PPG Industries Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 349 institutional holders increased their position in PPG Industries Inc. [NYSE:PPG] by around 18,248,467 shares. Additionally, 415 investors decreased positions by around 17,400,779 shares, while 165 investors held positions by with 147,472,000 shares. The mentioned changes placed institutional holdings at 183,121,246 shares, according to the latest SEC report filing. PPG stock had 115 new institutional investments in for a total of 8,485,479 shares, while 79 institutional investors sold positions of 2,235,646 shares during the same period.

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