What’s PPG Industries, Inc. (PPG) Downside After Forming Bearish Head & Shoulders Chart Pattern?

May 22, 2018 - By Marguerite Chambers

PPG Industries, Inc. (NYSE:PPG) Logo

Investors sentiment decreased to 1 in 2017 Q4. Its down 0.14, from 1.14 in 2017Q3. It fall, 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.
Teachers Retirement System Of The State Of Kentucky holds 0.14% or 99,055 shares in its portfolio. Amica Retiree Med Trust has invested 0.12% in PPG Industries, Inc. (NYSE:PPG). 14,524 are owned by Fund Evaluation Group Ltd Liability Com. Commerzbank Aktiengesellschaft Fi has invested 0% in PPG Industries, Inc. (NYSE:PPG). New York State Teachers Retirement stated it has 0.1% of its portfolio in PPG Industries, Inc. (NYSE:PPG). Gofen & Glossberg Ltd Il reported 3,392 shares. New Mountain Vantage Advisers Ltd has invested 3.78% of its portfolio in PPG Industries, Inc. (NYSE:PPG). Community Financial Bank Na reported 0.04% of its portfolio in PPG Industries, Inc. (NYSE:PPG). Walter & Keenan Financial Consulting Mi Adv holds 0.1% or 2,016 shares. Provident Tru Company holds 0.02% or 3,984 shares. Nordea Investment Ab has invested 0.57% in PPG Industries, Inc. (NYSE:PPG). Nomura has 48,739 shares. Invest Prtnrs Ltd Oh Adv invested 0.22% of its portfolio in PPG Industries, Inc. (NYSE:PPG). Focused Wealth Mngmt Incorporated reported 100 shares or 0% of all its holdings. Bb&T Secs Ltd Com stated it has 6,320 shares or 0.01% of all its holdings.

Since February 22, 2018, it had 0 insider buys, and 1 insider 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 $473.71 million 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. JP Morgan downgraded PPG Industries, Inc. (NYSE:PPG) on Friday, January 19 to “Neutral” rating. The stock of PPG Industries, Inc. (NYSE:PPG) earned “Overweight” rating by JP Morgan on Wednesday, April 25. The stock of PPG Industries, Inc. (NYSE:PPG) has “Hold” rating given on Tuesday, April 17 by Seaport Global. The company was downgraded on Friday, January 19 by J.P. Morgan. The firm earned “Hold” rating on Tuesday, November 28 by Wells Fargo. Atlantic Securities downgraded PPG Industries, Inc. (NYSE:PPG) on Wednesday, January 17 to “Neutral” rating. Barclays Capital maintained the stock with “Equal-Weight” rating in Friday, March 2 report. The stock of PPG Industries, Inc. (NYSE:PPG) has “Hold” rating given on Wednesday, January 17 by RBC Capital Markets. Seaport Global maintained PPG Industries, Inc. (NYSE:PPG) on Tuesday, January 23 with “Buy” rating. On Wednesday, April 25 the stock rating was upgraded by J.P. Morgan to “Buy”.

More important recent PPG Industries, Inc. (NYSE:PPG) news were published by: Prnewswire.com which released: “PPG SHAREHOLDER ALERT: Securities Fraud Class Action Filed Against PPG Industries (PPG); Block & Leviton …” on May 21, 2018, also Seekingalpha.com published article titled: “PPG Industries fires controller following probe into accounting procedures”, 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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