We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
PPG, Mcity Join Forces for Autonomous Vehicle Research
Read MoreHide Full Article
PPG Industries (PPG - Free Report) and University of Michigan’s (U-M’s) Mcity have entered into a partnership for autonomous vehicle testing and research.
PPG Industries is developing a broad portfolio of coatings technologies that is anticipated to increase functionality and enable broad deployment of autonomous vehicles. These include exterior coatings that enhance vehicle visibility to radar and light detection and ranging systems as well as easy-to-clean coatings that help in preventing obstruction of autonomous vehicle sensors.
The technologies will play an important role in the development of safe and reliable driverless vehicles and are scheduled to be showcased at the North American International Auto Show (NAIAS) during the Jan 14-20 at Cobo Center in Detroit.
Opened in 2015, the Mcity Test Facility was developed by U-M with support from the Michigan Department of Transportation. The facility aims to re-create a number of operating challenges faced by vehicles on the road with simulated urban and suburban environments. Also, Mcity funds academic research and works with its partners to deploy connected and automated vehicles in Ann Arbor and Southeast Michigan.
Mcity’s state-of-the-art facility will offer a controlled environment for PPG to develop specialized coatings and related technologies of autonomous vehicles that will play an integral role in the development of safe and reliable driverless vehicles.
PPG Industries’ shares have gained 3.3% in the past six months, underperforming the industry’s 17.7% growth.
The company expects continued moderate economic growth, globally. Post the mayhem caused by the recent natural disasters PPG Industries does not anticipate any further decline in the level of raw material cost inflation.
Furthermore, it sees an additional selling price increase. Along with addressing the inflationary environment, the company remains on track with its restructuring program which is expected to deliver full-year 2017 savings of more than $45 million.
The company is also taking steps for growing organically as well as cut costs. It also remains committed to deploy cash on acquisitions and share repurchases.
However, PPG Industries is exposed to raw materials cost pressure. Moreover, lingering impacts of natural disasters may continue to affect sales volume and margins in the fourth quarter. PPG Industries expects natural disasters to adversely impact fourth-quarter earnings by up to 5 cents per share.
Kronos Worldwide has an expected long-term earnings growth of 5%. Its shares skyrocketed 112.2% over a year.
Methanex has an expected long-term earnings growth of 15%. Shares of the company rallied 32.3% in a year.
Huntsman has an expected long-term earnings growth of 8%. Its shares soared 69.1% over a year.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Image: Bigstock
PPG, Mcity Join Forces for Autonomous Vehicle Research
PPG Industries, Inc. Price and Consensus | PPG Industries, Inc. Quote
Zacks Rank & Stocks to Consider
PPG Industries carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Kronos Worldwide Inc. (KRO - Free Report) , Methanex Corporation (MEOH - Free Report) and Huntsman Corporation (HUN - Free Report) , all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Kronos Worldwide has an expected long-term earnings growth of 5%. Its shares skyrocketed 112.2% over a year.
Methanex has an expected long-term earnings growth of 15%. Shares of the company rallied 32.3% in a year.
Huntsman has an expected long-term earnings growth of 8%. Its shares soared 69.1% over a year.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>