New Rating issued on PPG Industries (PPG): Upgraded by Atlantic Equities to ” Overweight”

PPG Industries (PPG) was Upgraded by Atlantic Equities to ” Overweight”. Earlier the firm had a rating of “Neutral ” on the company shares. Atlantic Equities advised their Clients and Investors in a research report released on Mar 15, 2017.

Based on several research reports , PPG Industries was Upgraded by Atlantic Equities to ” Overweight” on Mar 15, 2017. PPG Industries was Downgraded by Wells Fargo to ” Market Perform” on Mar 9, 2017. PPG Industries was Downgraded by Susquehanna to ” Neutral” on Jan 17, 2017. PPG Industries was Downgraded by Citigroup to ” Neutral” on Jan 9, 2017.

Several company insiders have filed Insider transactions , on Aug 8, 2016, Timothy M Knavish (Sr. VP, Automotive Coatings) sold 9,300 shares at $104.08 per share price. According to the SEC, on Jul 28, 2016, Viktoras R Sekmakas (Executive Vice President) sold 40,950 shares at $106.64 per share price. On Mar 1, 2016, Charles E Bunch (Executive Chairman of Board) sold 46,286 shares at $98.17 per share price, according to the Form-4 filing with the securities and exchange commission.

On the company’s financial health, PPG Industries reported $1.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jan 19, 2017. Analyst had a consensus of $1.18. The company had revenue of $3500.00 million for the quarter, compared to analysts expectations of $3553.78 million. The company’s revenue was down -5.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.23 EPS.

PPG Industries opened for trading at $102.89 and hit $104.41 on the upside on Wednesday, eventually ending the session at $104.04, with a gain of 2.27% or 2.31 points. The heightened volatility saw the trading volume jump to 17,89,376 shares. Company has a market cap of $26,703 M.

PPG Industries Inc. (PPG) manufactures and distributes a range of coatings optical and specialty materials and glass products. The Company operates business through three segments: Performance Coatings Industrial Coatings and Glass. The Performance Coatings segment consists of the refinish aerospace architectural coatings-Americas and Asia Pacific architectural coatings-EMEA and protective and marine coatings operating businesses. It primarily supplies a range of protective and decorative coatings sealants and finishes along with paint strippers stains and related chemicals. The Industrial Coatings segment consists of the automotive original equipment manufacturer (OEM) coatings industrial coatings packaging coatings and the specialty coatings and materials operating businesses. The Glass segment consists of the flat glass and fiber glass businesses. It supplies flat glass and continuous-strand fiber glass products.

PPG Industries

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