PPG Industries, Inc. ( PPG Quick Quote PPG - Free Report) recently announced a 5-year preferred paint supplier agreement with Six Flags Entertainment Corporation. Six Flags is the world’s largest regional theme park company and biggest operator of water parks in North America.
Six Flags has its footprint over 27 locations spread across United States, Canada and Mexico with many world-class roller coasters and attractions. The paint products of PPG Industries offered through this deal will facilitate Six Flags to create brand consistency as well as protect its skyline attractions, coasters, offices and more.
Six Flags stated that it strives to provide the best overall experience for its millions of annual visitors through usage of products that are vibrant, durable and capable of withstanding diverse weather conditions and general wear and tear. PPG Industries has the industry-leading coatings expertise and trusted products to support that vision, the company noted.
Shares of PPG Industries have rallied 60.9% in the past year compared with 48% rise of the
industry. Image Source: Zacks Investment Research
PPG Industries, in its last earnings call, stated that it expects overall global coatings demand to continue to be broad based in many of its end-use markets, including an eventual replenishment of many of its customers’ inventories.
The company expects to achieve further sales growth and earnings accretion from its recent acquisitions. It expects sequential net sales growth in a low-teen percentage in the second quarter and in line with historical pre-pandemic sequential quarterly changes.
Zacks Rank & Other Key Picks
PPG Industries currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the basic materials space are
Nucor Corporation ( NUE Quick Quote NUE - Free Report) , Olin Corporation ( OLN Quick Quote OLN - Free Report) and Cabot Corporation ( CBT Quick Quote CBT - Free Report) .
Nucor has a projected earnings growth rate of around 344.9% for the current year. The company’s shares have surged 136.4% in a year. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see
the complete list of today’s Zacks #1 Rank stocks here.
Olin has an expected earnings growth rate of around 506.7% for the current year. The company’s shares have skyrocketed 313.7% in the past year. It currently sports a Zacks Rank #1.
Cabot has an expected earnings growth rate of around 137.5% for the current fiscal. The company’s shares have surged 55.3% in the past year. It currently flaunts a Zacks Rank #1.
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