Jefferies Cuts PPG Industries (PPG); Menta Capital Trimmed Its Extreme Networks (EXTR) Stake

May 16, 2018 - By Shannon Black

PPG Industries, Inc. (NYSE:PPG) Logo

Menta Capital Llc decreased Extreme Networks Inc (EXTR) stake by 33.43% reported in 2017Q4 SEC filing. Menta Capital Llc sold 52,226 shares as Extreme Networks Inc (EXTR)’s stock declined 7.89%. The Menta Capital Llc holds 104,019 shares with $1.30M value, down from 156,245 last quarter. Extreme Networks Inc now has $993.20M valuation. The stock increased 5.41% or $0.44 during the last trading session, reaching $8.57. About 3.25 million shares traded or 70.96% up from the average. Extreme Networks, Inc. (NASDAQ:EXTR) has risen 78.12% since May 16, 2017 and is uptrending. It has outperformed by 66.57% the S&P500.

In a analysts note issued to clients today, Jefferies downgraded shares of PPG Industries (NYSE:PPG) to a “Hold” rating.

Another recent and important Extreme Networks, Inc. (NASDAQ:EXTR) news was published by Seekingalpha.com which published an article titled: “Extreme Networks -26% on miss, dim guidance” on May 08, 2018.

Menta Capital Llc increased United Finl Bancorp Inc New (NASDAQ:UBNK) stake by 21,538 shares to 89,723 valued at $1.58M in 2017Q4. It also upped Coca Cola Bottling Co Cons (NASDAQ:COKE) stake by 3,500 shares and now owns 4,800 shares. Warrior Met Coal Inc was raised too.

Investors sentiment increased to 1.46 in 2017 Q4. Its up 0.49, from 0.97 in 2017Q3. It increased, as 21 investors sold EXTR shares while 50 reduced holdings. 31 funds opened positions while 73 raised stakes. 89.19 million shares or 1.39% less from 90.45 million shares in 2017Q3 were reported. 63,150 are held by Bridgeway Capital Management. Moreover, Guggenheim Cap Llc has 0% invested in Extreme Networks, Inc. (NASDAQ:EXTR) for 27,668 shares. Ratan Cap Limited Partnership stated it has 100,000 shares or 1.89% of all its holdings. Us National Bank & Trust De owns 6,980 shares. Legal And General Grp Incorporated Pcl holds 28,059 shares or 0% of its portfolio. Signalpoint Asset Mgmt Lc holds 0.51% in Extreme Networks, Inc. (NASDAQ:EXTR) or 65,550 shares. Rk Mgmt Lc has 3.48% invested in Extreme Networks, Inc. (NASDAQ:EXTR). Origin Asset Mgmt Limited Liability Partnership owns 65,471 shares. Chicago Equity Prns Limited Liability accumulated 203,565 shares. Northern Trust has 0% invested in Extreme Networks, Inc. (NASDAQ:EXTR) for 1.38 million shares. 149,732 are held by Los Angeles Capital Mngmt Equity Rech. Credit Suisse Ag owns 179,663 shares. Virginia Retirement Et Al holds 0.01% or 75,100 shares. Nicholas Investment Ltd Partnership reported 551,972 shares. Fincl Bank Of Mellon invested in 0% or 1.15 million shares.

Among 6 analysts covering Extreme Networks Inc (NASDAQ:EXTR), 6 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Extreme Networks Inc had 15 analyst reports since August 7, 2015 according to SRatingsIntel. The rating was upgraded by DA Davidson on Thursday, September 15 to “Buy”. The firm has “Buy” rating given on Wednesday, January 3 by JMP Securities. Wunderlich upgraded it to “Buy” rating and $4.50 target in Thursday, September 10 report. Zacks upgraded Extreme Networks, Inc. (NASDAQ:EXTR) rating on Friday, August 14. Zacks has “Hold” rating and $3.25 target. The firm has “Buy” rating by Craig Hallum given on Wednesday, November 8. Wunderlich maintained it with “Buy” rating and $6 target in Thursday, September 15 report. The stock of Extreme Networks, Inc. (NASDAQ:EXTR) has “Buy” rating given on Friday, June 2 by Needham. The stock of Extreme Networks, Inc. (NASDAQ:EXTR) has “Buy” rating given on Tuesday, February 6 by Cowen & Co. Needham maintained the stock with “Buy” rating in Wednesday, February 7 report. The company was maintained on Monday, September 19 by Needham.

Analysts await Extreme Networks, Inc. (NASDAQ:EXTR) to report earnings on August, 13. They expect $0.13 earnings per share, down 7.14% or $0.01 from last year’s $0.14 per share. EXTR’s profit will be $15.07 million for 16.48 P/E if the $0.13 EPS becomes a reality. After $0.10 actual earnings per share reported by Extreme Networks, Inc. for the previous quarter, Wall Street now forecasts 30.00% EPS growth.

PPG Industries, Inc. manufactures and distributes coatings, specialty materials, and glass products. The company has market cap of $25.69 billion. It operates in three divisions: Performance Coatings, Industrial Coatings, and Glass. It has a 16.38 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 for specialty applications; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

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 $473.72M for 13.56 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.

Among 26 analysts covering PPG Industries (NYSE:PPG), 15 have Buy rating, 0 Sell and 11 Hold. Therefore 58% are positive. PPG Industries has $139 highest and $100 lowest target. $121.45’s average target is 17.88% above currents $103.03 stock price. PPG Industries had 80 analyst reports since September 6, 2015 according to SRatingsIntel. On Tuesday, October 17 the stock rating was maintained by Jefferies with “Buy”. The firm has “Buy” rating given on Tuesday, March 20 by Deutsche Bank. As per Friday, October 20, the company rating was maintained by Bank of America. Deutsche Bank maintained the shares of PPG in report on Sunday, September 6 with “Buy” rating. The firm has “Outperform” rating by Credit Suisse given on Monday, July 17. The stock has “Hold” rating by RBC Capital Markets on Monday, April 23. Seaport Global maintained the stock with “Hold” rating in Tuesday, April 17 report. The stock of PPG Industries, Inc. (NYSE:PPG) has “Buy” rating given on Wednesday, April 25 by J.P. Morgan. The rating was upgraded by Atlantic Securities to “Overweight” on Wednesday, March 15. Credit Suisse reinitiated the stock with “Outperform” rating in Tuesday, March 22 report.

Investors sentiment decreased to 1 in 2017 Q4. Its down 0.14, from 1.14 in 2017Q3. It is negative, 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. Moreover, Pitcairn has 0.12% invested in PPG Industries, Inc. (NYSE:PPG) for 10,542 shares. Cypress Grp Incorporated has 0.72% invested in PPG Industries, Inc. (NYSE:PPG) for 29,569 shares. Benjamin F Edwards & reported 0.02% of its portfolio in PPG Industries, Inc. (NYSE:PPG). Luminus Mgmt Limited Liability Co reported 42,794 shares or 0.11% of all its holdings. 9,217 are owned by Amica Pension Fund Board Of Trustees. Brinker reported 0.1% stake. Stephens Ar holds 0.15% in PPG Industries, Inc. (NYSE:PPG) or 34,724 shares. Renaissance Grp Ltd Liability Corp reported 23,024 shares stake. M&T Bank & Trust Corp invested in 94,663 shares. Moreover, Price T Rowe Md has 0.04% invested in PPG Industries, Inc. (NYSE:PPG). Westpac Bk Corporation holds 0.13% or 48,355 shares in its portfolio. Principal Financial Gru holds 964,420 shares. Gotham Asset Mgmt Limited Liability Corp accumulated 0.35% or 206,480 shares. Moreover, Hyman Charles D has 0.06% invested in PPG Industries, Inc. (NYSE:PPG) for 4,200 shares. Lazard Asset Mgmt Ltd Com has invested 0.22% in PPG Industries, Inc. (NYSE:PPG).

Since February 22, 2018, it had 0 insider buys, and 1 insider sale for $1.10 million activity. $1.10M worth of PPG Industries, Inc. (NYSE:PPG) shares were sold by GREINDL JEAN-MARIE.

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