PPG Industries Inc. [PPG] Stock trading around $123.60 per share: What’s Next?

PPG Industries Inc. [NYSE: PPG] loss -3.27% or -4.18 points to close at $123.60 with a heavy trading volume of 2897311 shares. The company report on January 19, 2023 that PPG reports fourth quarter and full-year 2022 financial results.

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Fourth quarter highlights include:.

Net sales of $4.2 billion, up 5% in constant currencies driven by higher selling prices.

It opened the trading session at $125.78, the shares rose to $126.53 and dropped to $123.32, the range by which the price of stock traded the whole day. The daily chart for PPG points out that the company has recorded 2.91% gains over the past six months. However, it is still -15.45% lower than its most recent low trading price.

If we look at the average trading volume of 1.22M shares, PPG reached to a volume of 2897311 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $134.24 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 2.40. 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.

RBC Capital Mkts have made an estimate for PPG Industries Inc. shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on January 10, 2023. While these analysts kept the previous recommendation, KeyBanc Capital Markets raised their target price to Overweight. The new note on the price target was released on October 17, 2022, representing the official price target for PPG Industries Inc. stock. Previously, the target price had yet another raise to $145, while Goldman analysts kept a Buy rating on PPG stock.

The Average True Range (ATR) for PPG Industries Inc. is set at 3.44, with the Price to Sales ratio for PPG stock in the period of the last 12 months amounting to 1.64. The Price to Book ratio for the last quarter was 4.82, with the Price to Cash per share for the same quarter was set at 4.66.

Trading performance analysis for PPG stock

PPG Industries Inc. [PPG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.43. With this latest performance, PPG shares dropped by -2.04% in over the last four-week period, additionally plugging by 2.91% over the last 6 months – not to mention a drop of -24.54% 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 41.72, with the RSI for the last a single of trading hit 36.41, and the three-weeks RSI is set at 44.99 for PPG Industries Inc. [PPG]. The present Moving Average for the last 50 days of trading for this stock 128.59, while it was recorded at 129.20 for the last single week of trading, and 123.93 for the last 200 days.

PPG Industries Inc. [PPG]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and PPG Industries Inc. [PPG] shares currently have an operating margin of +10.55 and a Gross Margin at +35.18. PPG Industries Inc.’s Net Margin is presently recorded at +8.45.

Return on Equity for this stock inclined to 23.72, with Return on Assets sitting at 6.94.

PPG Industries Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.50.

PPG Industries Inc. [PPG]: An earnings per share (EPS) analysis

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 5.70%.

An analysis of insider ownership at PPG Industries Inc. [PPG]

There are presently around $23,411 million, or 82.50% of PPG stock, in the hands of institutional investors. The top three institutional holders of PPG stocks are: VANGUARD GROUP INC with ownership of 20,472,227, which is approximately 0.335% of the company’s market cap and around 0.27% of the total institutional ownership; BLACKROCK INC., holding 20,401,585 shares of the stock with an approximate value of $2.52 billion in PPG stocks shares; and JPMORGAN CHASE & CO, currently with $2.09 billion in PPG stock with ownership of nearly -2.302% of the company’s market capitalization.

425 institutional holders increased their position in PPG Industries Inc. [NYSE:PPG] by around 8,430,033 shares. Additionally, 380 investors decreased positions by around 8,521,770 shares, while 210 investors held positions by with 172,454,184 shares. The mentioned changes placed institutional holdings at 189,405,987 shares, according to the latest SEC report filing. PPG stock had 89 new institutional investments in for a total of 2,404,206 shares, while 73 institutional investors sold positions of 2,152,422 shares during the same period.


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