PPG Industries, Inc. (PPG) Could Burn Your Portfolio. The Stock Formed Wedge Down

July 13, 2018 - By Andrea Pope

PPG Industries, Inc. (NYSE:PPG) Logo

Investors sentiment decreased to 0.98 in Q1 2018. Its down 0.02, from 1 in 2017Q4. It turned negative, as 42 investors sold PPG Industries, Inc. shares while 246 reduced holdings. 66 funds opened positions while 215 raised stakes. 183.14 million shares or 1.72% less from 186.33 million shares in 2017Q4 were reported.
98 are held by Oakworth. Estabrook Capital Management accumulated 0% or 5,950 shares. 1,947 are owned by At Retail Bank. Whittier Of Nevada Inc stated it has 0.01% in PPG Industries, Inc. (NYSE:PPG). Moreover, Arrowstreet Cap Ltd Partnership has 0.01% invested in PPG Industries, Inc. (NYSE:PPG). Messner And Smith Theme Value Ca has 26 shares for 0% of their portfolio. Sigma Planning Corporation reported 0.03% of its portfolio in PPG Industries, Inc. (NYSE:PPG). Intrust National Bank Na owns 4,691 shares. Peninsula Asset Mgmt has invested 2.01% in PPG Industries, Inc. (NYSE:PPG). Atlantic Group Limited Liability Corp stated it has 0.01% of its portfolio in PPG Industries, Inc. (NYSE:PPG). Welch And Forbes Limited Liability Company owns 0.01% invested in PPG Industries, Inc. (NYSE:PPG) for 2,000 shares. Citadel Advsrs Ltd Liability Corporation accumulated 0.03% or 440,287 shares. Eastern Fincl Bank has 78,563 shares. 22,000 are owned by Rbf Capital Limited Co. Gofen And Glossberg Ltd Limited Liability Company Il reported 0.01% stake.

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

The stock of PPG Industries, Inc. (PPG) formed a down wedge with $97.74 target or 6.00 % below today’s $103.98 share price. The 9 months wedge indicates high risk for the $25.32B company. If the $97.74 price target is reached, the company will be worth $1.52 billion less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock increased 0.13% or $0.14 during the last trading session, reaching $103.98. About 970,481 shares traded. PPG Industries, Inc. (NYSE:PPG) has declined 3.28% since July 13, 2017 and is downtrending. It has underperformed by 15.85% the S&P500.

Analysts await PPG Industries, Inc. (NYSE:PPG) to report earnings on July, 19 before the open. They expect $1.89 earnings per share, up 3.28 % or $0.06 from last year’s $1.83 per share. PPG’s profit will be $460.16 million for 13.75 P/E if the $1.89 EPS becomes a reality. After $1.39 actual earnings per share reported by PPG Industries, Inc. for the previous quarter, Wall Street now forecasts 35.97 % EPS growth.

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

Among 15 analysts covering PPG Industries (NYSE:PPG), 6 have Buy rating, 0 Sell and 9 Hold. Therefore 40% are positive. PPG Industries had 24 analyst reports since January 17, 2018 according to SRatingsIntel. The rating was maintained by Citigroup on Wednesday, January 24 with “Neutral”. On Friday, January 19 the stock rating was maintained by Northcoast with “Buy”. The firm earned “Neutral” rating on Friday, January 19 by JP Morgan. The stock of PPG Industries, Inc. (NYSE:PPG) has “Hold” rating given on Tuesday, March 27 by BMO Capital Markets. On Friday, April 20 the stock rating was maintained by Credit Suisse with “Outperform”. Citigroup maintained PPG Industries, Inc. (NYSE:PPG) on Wednesday, July 11 with “Neutral” rating. SunTrust maintained the stock with “Hold” rating in Friday, January 19 report. As per Monday, April 23, the company rating was maintained by Susquehanna. RBC Capital Markets maintained the stock with “Hold” rating in Wednesday, January 17 report. The firm has “Neutral” rating given on Wednesday, January 17 by Atlantic Securities.

More notable recent PPG Industries, Inc. (NYSE:PPG) news were published by: Globenewswire.com which released: “UPCOMING DEADLINES: The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of PRTA …” on July 12, 2018, also Globenewswire.com with their article: “Hagens Berman Reminds Investors in PPG Industries, Inc. (NYSE:PPG) of the July 19, 2018 Securities Class Action …” published on June 26, 2018, Businesswire.com published: “Anniversary of Its Founding With NYSE Closing Bell Ceremony” on July 10, 2018. More interesting news about PPG Industries, Inc. (NYSE:PPG) were released by: Globenewswire.com and their article: “SHAREHOLDER ALERT – PRTA SYMC PPG MFGP FLR DB QCOM NWL: The Law Offices of Vincent Wong Reminds …” published on July 13, 2018 as well as Seekingalpha.com‘s news article titled: “Banks lead group of expected dividend hikers next week” with publication date: July 13, 2018.

PPG Industries, Inc. manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. The company has market cap of $25.32 billion. It operates through Performance Coatings and Industrial Coatings divisions. It has a 16.72 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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