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PPG · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is PPG Industries, Inc. (PPG) stock moving?
PPG reported third-quarter 2026 results around Oct 27-28 and raised its guidance, which is the main driver of recent price action. The stock gapped up on Oct 28, opening at 118.50 from a 112.77 prior close, on 4.9M shares, roughly double its typical 2-2.5M daily volume. It then climbed to an intraday high of 128.11 on Nov 4 before pulling back to 120.20 on Nov 6 and recovering to a 124.42 close on Nov 10. Volume has faded to 1.3-1.4M shares over the last three sessions, which suggests the post-earnings momentum is cooling rather than accelerating. Seven brokers raised price targets on Oct 29, to between $123 and $137, with an average of about $130.6. That puts the current price roughly 5% below the average target, but the spread is wide: Barclays, Deutsche Bank, Wells Fargo and KeyBanc are constructive with targets of $131-137, while Citigroup, UBS and RBC are Neutral or Sector Perform with targets of $123-130. The only insider transaction in the window is a sale worth about $317,863, which is small and unlikely to change the picture. The main risks are the clustering of Neutral-rated targets near the current price and the fading volume after the earnings spike.
News behind the analysis
- PPG Industries Insider Executes Share SaleA company insider sold PPG shares worth about $317,863, according to a recent regulatory filing. The sale is small relative to the company's market value.
- Barclays Maintains Overweight on PPG Indus, Raises Price Target to $137Barclays kept its Overweight rating and raised its PPG price target to $137 after the third-quarter report.
- Wells Fargo Maintains Overweight on PPG Indus, Raises Price Target to $135Wells Fargo kept its Overweight rating and lifted its PPG price target to $135.
- Deutsche Bank Adjusts PPG Industries Price Target to $135 From $130, Maintains Buy RatingDeutsche Bank raised its PPG price target from $130 to $135 and kept its Buy rating.
- Keybanc Maintains Overweight on PPG Indus, Raises Price Target to $131KeyBanc kept its Overweight rating and raised its PPG price target to $131.
- Citigroup Maintains Neutral on PPG Indus, Raises Price Target to $130Citigroup kept a Neutral rating and raised its PPG price target to $130.
- UBS Maintains Neutral on PPG Indus, Raises Price Target to $123UBS kept a Neutral rating and raised its PPG price target to $123.
- RBC Capital Maintains Sector Perform on PPG Indus, Raises Price Target to $123RBC kept its Sector Perform rating and raised its PPG price target to $123.
- PPG Indus Q3 2026 Earnings Call TranscriptThe transcript of PPG's third-quarter 2026 earnings call is available, following the quarterly results release.
- Robinhood, Microsoft And 3 Stocks To Watch Heading Into WednesdayBenzinga flagged that PPG beat expectations and raised guidance in its third-quarter report.
About PPG Industries, Inc.
PPG Industries is a Pittsburgh-based maker of paints, coatings and specialty materials used on cars, aircraft, packaging, industrial equipment and buildings, with annual sales of roughly $16–17 billion. It is one of the world's largest coatings companies, and it has a strong position in aerospace coatings and sealants and in architectural paint in Latin America, especially Mexico.
How it makes money
PPG sells coatings through three segments, based on Q2 2026 figures. Industrial Coatings (about 40% of sales) covers automotive factory paint, industrial and packaging coatings. Performance Coatings (about 35%) covers aerospace, automotive refinish, protective and marine, and traffic coatings. Global Architectural Coatings (about 25%) covers paint for homes and buildings. Revenue depends on how much it sells and on price increases that pass rising raw-material costs on to customers.
What usually moves PPG
- Industrial production and auto build rates
- Aerospace demand and airline fleet activity
- Raw material costs and pricing power
- Currency swings from large international sales
- Housing and renovation activity, especially in Latin America