What’s Next for PPG Industries, Inc. (PPG) After Forming Bearish Head & Shoulders?

May 22, 2018 - By Winifred Garcia

PPG Industries, Inc. (NYSE:PPG) Logo

Investors sentiment decreased to 1 in Q4 2017. Its down 0.14, from 1.14 in 2017Q3. It worsened, as 37 investors sold PPG Industries, Inc. shares while 245 reduced holdings. 86 funds opened positions while 197 raised stakes. 186.33 million shares or 0.01% more from 186.32 million shares in 2017Q3 were reported.
Parkside Bancshares And invested 0.01% of its portfolio in PPG Industries, Inc. (NYSE:PPG). Van Hulzen Asset Ltd Liability Corp, California-based fund reported 2,800 shares. Kayne Anderson Rudnick Mgmt Ltd invested 0.1% of its portfolio in PPG Industries, Inc. (NYSE:PPG). Rodgers Brothers reported 0.94% in PPG Industries, Inc. (NYSE:PPG). Investec Asset has invested 0% of its portfolio in PPG Industries, Inc. (NYSE:PPG). Johnson Counsel accumulated 4,641 shares. Regentatlantic Ltd stated it has 0.1% in PPG Industries, Inc. (NYSE:PPG). Tru Of Vermont stated it has 6,620 shares. Columbus Hill Mngmt Lp has 96,000 shares. Ameriprise Finance Inc reported 0.05% in PPG Industries, Inc. (NYSE:PPG). Reliance Tru Of Delaware, Delaware-based fund reported 11,805 shares. Moreover, Timber Hill Ltd Liability Corp has 0.13% invested in PPG Industries, Inc. (NYSE:PPG) for 17,270 shares. Fifth Third State Bank has invested 0.03% in PPG Industries, Inc. (NYSE:PPG). Janney Montgomery Scott Limited Liability reported 113,846 shares. Investment Partners Ltd Oh Adv owns 0.22% invested in PPG Industries, Inc. (NYSE:PPG) for 2,502 shares.

Since February 22, 2018, it had 0 insider purchases, and 1 sale for $1.10 million activity.

The stock of PPG Industries, Inc. (PPG) formed H&S with $100.83 target or 4.00 % below today’s $105.03 share price. The 8 months Head & Shoulders indicates high risk for the $26.19 billion company. It was reported on May, 22 by Faxor.com. If the $100.83 price target is reached, the company will be worth $1.05B less.
Head-and-shoulders are one of the best chart patterns to trade. They work in bear and bull markets and according to many researchers have very low failure rate. Even thought they have high pullback rate, such patters usually provide good risk-reward entry opportunities. The percentage of stocks meeting price targets is 55%.

The stock increased 0.08% or $0.08 during the last trading session, reaching $105.03. About 1.23M shares traded. PPG Industries, Inc. (NYSE:PPG) has risen 7.79% since May 22, 2017 and is uptrending. It has underperformed by 3.76% the S&P500.

Analysts await PPG Industries, Inc. (NYSE:PPG) to report earnings on July, 19. They expect $1.90 EPS, up 3.83 % or $0.07 from last year’s $1.83 per share. PPG’s profit will be $473.71M for 13.82 P/E if the $1.90 EPS becomes a reality. After $1.39 actual EPS reported by PPG Industries, Inc. for the previous quarter, Wall Street now forecasts 36.69 % EPS growth.

PPG Industries, Inc. (NYSE:PPG) Ratings Coverage

Among 17 analysts covering PPG Industries (NYSE:PPG), 7 have Buy rating, 0 Sell and 10 Hold. Therefore 41% are positive. PPG Industries had 27 analyst reports since November 28, 2017 according to SRatingsIntel. The firm has “Hold” rating given on Wednesday, May 16 by Jefferies. The stock of PPG Industries, Inc. (NYSE:PPG) has “Hold” rating given on Wednesday, January 17 by RBC Capital Markets. Northcoast maintained PPG Industries, Inc. (NYSE:PPG) on Friday, January 19 with “Buy” rating. The stock of PPG Industries, Inc. (NYSE:PPG) earned “Hold” rating by RBC Capital Markets on Thursday, March 15. The firm earned “Hold” rating on Tuesday, November 28 by Wells Fargo. The company was downgraded on Friday, January 19 by J.P. Morgan. As per Wednesday, January 24, the company rating was maintained by Citigroup. As per Friday, January 19, the company rating was maintained by SunTrust. The rating was maintained by Susquehanna with “Hold” on Monday, April 23. As per Wednesday, January 17, the company rating was downgraded by Atlantic Securities.

More important recent PPG Industries, Inc. (NYSE:PPG) news were published by: Seekingalpha.com which released: “PPG Industries fires controller following probe into accounting procedures” on May 10, 2018, also Prnewswire.com published article titled: “PPG SHAREHOLDER ALERT: Securities Fraud Class Action Filed Against PPG Industries (PPG); Block & Leviton …”, Bizjournals.com published: “Six Pittsburgh-area companies on 2018’s Fortune 500 list” on May 21, 2018. More interesting news about PPG Industries, Inc. (NYSE:PPG) was released by: Businesswire.com and their article: “EQUITY ALERT: Rosen Law Firm Files Securities Class Action Lawsuit Against PPG Industries, Inc. – PPG” with publication date: May 20, 2018.

PPG Industries, Inc. manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. The company has market cap of $26.19 billion. It operates through Performance Coatings and Industrial Coatings divisions. It has a 16.7 P/E ratio. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

PPG Industries, Inc. (NYSE:PPG) Institutional Positions Chart

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