BASF SE’s (BASFY - Free Report) Coatings division and INEOS Automotive have forged a comprehensive agreement to advance global automotive refinish body and paint development. The collaboration marks a long-term strategic alliance aimed at surpassing industry benchmarks in vehicle body repair and paint refinish. Together, the partners pledge to deliver sustainable refinish solutions, expertise and cutting-edge digital color-matching solutions along with training initiatives.
INEOS Automotive expressed great enthusiasm about the partnership, stating its pleasure in joining forces with BASF to establish a top-tier sustainable paint program in the forthcoming years. This initiative aims to uphold the highest quality standards in paint-work repairs for premium vehicles. The company underscored BASF's crucial technical support and management expertise in advancing the latest body shop standards, ensuring that the INEOS Automotive network can rely on a partner that shares its commitment to excellence in customer service.
BASF is committed to upholding the most sustainable and efficient refinish practices at the highest level across the INEOS body shop network, spanning Europe, North America and Asia Pacific.
BASF has also highlighted the promising prospects in the automotive industry, expressing delight at the expanded engagement with INEOS Automotive. With its highly innovative portfolio of solutions now setting the industry standard, the company looks forward to aligning and complementing INEOS’ vision with its strategic principles, fostering a new, robust and mutually-rewarding partnership.
The collaboration between INEOS and BASF Coatings extends beyond the surface technology partnership for the INEOS Grenadier, the first off-road vehicle manufactured in Hambach, France, since 2021. With the new agreement, BASF deepens its collaboration with INEOS to implement and develop the body and paint program for the INEOS Grenadier and the newly launched double-cab pick-up variant called the Quartermaster.
In the past year, BASF’s shares have lost 1% compared with the industry’s 16.2% fall in the same period.
Zacks Rank & Key Picks
BASF currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Basic Materials space are Carpenter Technology Corporation (CRS - Free Report) , sporting a Zacks Rank #1 (Strong Buy), Eldorado Gold Corporation (EGO - Free Report) and Hawkins, Inc. (HWKN - Free Report) , both carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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Eldorado has a projected earnings growth rate of 1,040% for the current year. The Zacks Consensus Estimate for EGO’s current-year earnings has been revised upward by 10% in the past 60 days. EGO topped the consensus estimate in each of the last four quarters, with the average earnings surprise being 496%. The company’s shares have rallied 26.7% in the past year.
The consensus estimate for HWKN’s current fiscal year earnings is pegged at $3.61 per share, indicating a year-over-year rise of 26%. The Zacks Consensus Estimate for HWKN’s current-year earnings has been revised upward by 4.3% in the past 30 days. HWKN beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 30.6%. The company’s shares have surged 72% in the past year.
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BASF SE’s (BASFY - Free Report) Coatings division and INEOS Automotive have forged a comprehensive agreement to advance global automotive refinish body and paint development. The collaboration marks a long-term strategic alliance aimed at surpassing industry benchmarks in vehicle body repair and paint refinish. Together, the partners pledge to deliver sustainable refinish solutions, expertise and cutting-edge digital color-matching solutions along with training initiatives.
INEOS Automotive expressed great enthusiasm about the partnership, stating its pleasure in joining forces with BASF to establish a top-tier sustainable paint program in the forthcoming years. This initiative aims to uphold the highest quality standards in paint-work repairs for premium vehicles. The company underscored BASF's crucial technical support and management expertise in advancing the latest body shop standards, ensuring that the INEOS Automotive network can rely on a partner that shares its commitment to excellence in customer service.
BASF is committed to upholding the most sustainable and efficient refinish practices at the highest level across the INEOS body shop network, spanning Europe, North America and Asia Pacific.
BASF has also highlighted the promising prospects in the automotive industry, expressing delight at the expanded engagement with INEOS Automotive. With its highly innovative portfolio of solutions now setting the industry standard, the company looks forward to aligning and complementing INEOS’ vision with its strategic principles, fostering a new, robust and mutually-rewarding partnership.
The collaboration between INEOS and BASF Coatings extends beyond the surface technology partnership for the INEOS Grenadier, the first off-road vehicle manufactured in Hambach, France, since 2021. With the new agreement, BASF deepens its collaboration with INEOS to implement and develop the body and paint program for the INEOS Grenadier and the newly launched double-cab pick-up variant called the Quartermaster.
In the past year, BASF’s shares have lost 1% compared with the industry’s 16.2% fall in the same period.
Zacks Rank & Key Picks
BASF currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Basic Materials space are Carpenter Technology Corporation (CRS - Free Report) , sporting a Zacks Rank #1 (Strong Buy), Eldorado Gold Corporation (EGO - Free Report) and Hawkins, Inc. (HWKN - Free Report) , both carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for CRS’ current fiscal year earnings is pegged at $3.97 per share, indicating a year-over-year surge of 248.3%. CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 14.3%. The company’s shares have rallied 37.2% in the past year.
Eldorado has a projected earnings growth rate of 1,040% for the current year. The Zacks Consensus Estimate for EGO’s current-year earnings has been revised upward by 10% in the past 60 days. EGO topped the consensus estimate in each of the last four quarters, with the average earnings surprise being 496%. The company’s shares have rallied 26.7% in the past year.
The consensus estimate for HWKN’s current fiscal year earnings is pegged at $3.61 per share, indicating a year-over-year rise of 26%. The Zacks Consensus Estimate for HWKN’s current-year earnings has been revised upward by 4.3% in the past 30 days. HWKN beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 30.6%. The company’s shares have surged 72% in the past year.
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Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
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