Argus Downgrades PPG Industries (PPG) to Hold

October 25, 2016 8:21 AM EDT
Get Alerts PPG Hot Sheet
Price: $94.58 -0.69%

Rating Summary:
    17 Buy, 5 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 11 | Down: 31 | New: 42
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Argus downgraded PPG Industries (NYSE: PPG) from Buy to Hold.

The downgrade reflects management’s reduced 3Q guidance in early October and subsequent report of a year-over-year decline in third-quarter earnings. Management expects slower volume growth in the near term, reflecting the impact of weaker economic conditions, especially in Europe.

The firm is lowering 2016 EPS estimate to $5.93 from $6.25 . They are also lowering 2017 EPS estimate to $6.43 from $6.93.

For an analyst ratings summary and ratings history on PPG Industries click here. For more ratings news on PPG Industries click here.

Shares of PPG Industries closed at $93.24 yesterday.

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