PPG Industries (PPG - Free Report) secured Parts Manufacturer Approval (PMA) from the Federal Aviation Administration for glass-faced acrylic windshields for Beechjet 400 business jets and their variants. These windshields have been selected by Nextant Aerospace for Nextant 400XTI remanufactured business jets and will be available for direct sale to owners of Beechjet 400 jets and variants.
This new glass-faced acrylic windshields are not only easy to install but also provide exceptional resistance to moisture ingress that affects service life. The windshields have an outboard ply of chemically strengthened glass with two stretched-acrylic plies. These windshields come with an Aircon anti-ice heating system that offers superior optics during operation. Along with this, the products’ Surface Seal hydrophobic coating helps shed water for better pilot visibility during wet conditions without the need for wipers.
These latest variant of windshields are on display at the National Business Aviation Association Business Aviation Convention & Exhibition from Oct 10-12 at the Las Vegas Convention Center in Las Vegas.
PPG Industries has underperformed the industry over the past six months. The company’s shares have moved up around 7% over this period, compared with roughly 15.5% gain recorded by the industry.
PPG Industries expects modest global economic growth. Also, the company anticipates a higher level of earnings-accretive cash deployment in the second half of 2017 including acquisitions and share repurchases.
PPG Industries is taking steps for growing organically. The company is also taking measures to lower costs. The company also remains committed to deploy cash on acquisitions and share repurchases. It plans to deploy $2.5-$3.5 billion cash for acquisitions and share repurchases in 2017 and 2018 combined and is now targeting the top end of that range at a minimum.
Additionally, the company remains on track with its cost cutting and restructuring actions and is expected to deliver $120-$130 million in annual savings, with $40-$50 million of savings expected to be realized in 2017.
However, PPG Industries faces currency headwind and macroeconomic challenges. Some of its end-markets including marine still remain sluggish. It is also exposed to raw materials cost pressure.
PPG Industries, Inc. Price and Consensus
PPG Industries currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
Some better-ranked stocks in the chemical space are The Chemours Company (CC - Free Report) , FMC Corporation (FMC - Free Report) and Koppers Holding Inc. (KOP - Free Report) . All three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Chemours has expected long-term earnings growth of 15.5%.
FMC has expected long-term earnings growth of 11.3%.
Koppers has expected long-term earnings growth of 18%.
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