PPG Industries Inc (NYSE:PPG) stock is up 5.7% to trade at $113.82 at last check, after the paint concern announced a preliminary first-quarter earnings beat thanks to strength in its aerospace and Latin America architectural coating business. The company also hiked prices 20% across its products due to volatility in the petrochemical, transportation, and energy markets, and noted higher cost of increased raw materials and packaging.
In response, RBC lifted its price objective to $119 from $114. Analysts still lean bearish toward PPG, though, with 14 of the 23 in question still sporting a "hold" or worse rating. This means bull notes could be in store.
PPG is now trading at its highest level since March 5 and now sports a healthy 10.4% lead for 2026. The shares are still a ways off their Feb. 12 two-year high of $133.38 though.
Calls have been much more popular than usual in the options pits. This is per the stock's 50-day call/put volume ratio at the 50-day call/putt volume ratio of 2.49 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) that sits higher than 80% of annual readings.
Good news for those prospective options traders; the stock's Schaeffer's Volatility Scorecard (SVS) comes in at 99 out of 100. This indicates PPG has consistently realized higher volatility than its options have priced in.
