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 Industries to Raise Packaging Coatings Product Price
Read MoreHide Full Article
PPG Industries, Inc. (PPG - Free Report) is implementing a global price hike of 8-10% on all packaging coatings products globally. The price rise will be put into effect on Oct 1, or as contract permit. Cost pressure related to raw materials, labor, freight and distribution across all regions has led to the hike.
PPG Industries noted that the price increase actions are vital for sustaining its commitment toward innovation and development of next-generation coatings. The company also remains aggressive in its efforts to cut expenses.
In a year’s time, shares of PPG Industries have outperformed the industry it belongs to. While the stock has gained around 1.4%, the industry saw decline of 3.3%.
PPG Industries, during its second-quarter call, said that it does not expect any respite from inflationary cost pressure in the third quarter. The company expects to continue its earnings-accretive cash deployment in the second half of the year. It is committed toward spending $2.4 billion of cash on acquisitions and share repurchases in 2018. The company also initiated a restructuring program and expects it record annualized savings of roughly $85 million, once it is fully implemented.
During the second quarter, PPG Industries’ Industrial Coatings segment sales and total sales volumes improved year over year. Acquisition-related sales contributed to the growth. Notably, Performance coatings segment sales increased year over year on the back of favorable currency translation.
Some better-ranked companies in the basic materials space are ArcelorMittal (MT - Free Report) , CF Industries Holdings, Inc. (CF - Free Report) and Air Products and Chemicals, Inc. (APD - Free Report) .
ArcelorMittal has an expected long-term earnings growth rate of 4.8% and a Zacks Rank #1 (Strong Buy). The company’s shares have gained 25% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
CF Industries has an expected long-term earnings growth rate of 6% and a Zacks Rank #2 (Buy). The company’s shares have rallied 57.6% in the past year.
Air Products has an expected long-term earnings growth rate of 16.2% and a Zacks Rank #2. Its shares have risen 10.9% in a year’s time.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Image: Bigstock
PPG Industries to Raise Packaging Coatings Product Price
PPG Industries, Inc. (PPG - Free Report) is implementing a global price hike of 8-10% on all packaging coatings products globally. The price rise will be put into effect on Oct 1, or as contract permit. Cost pressure related to raw materials, labor, freight and distribution across all regions has led to the hike.
PPG Industries noted that the price increase actions are vital for sustaining its commitment toward innovation and development of next-generation coatings. The company also remains aggressive in its efforts to cut expenses.
In a year’s time, shares of PPG Industries have outperformed the industry it belongs to. While the stock has gained around 1.4%, the industry saw decline of 3.3%.
PPG Industries, during its second-quarter call, said that it does not expect any respite from inflationary cost pressure in the third quarter. The company expects to continue its earnings-accretive cash deployment in the second half of the year. It is committed toward spending $2.4 billion of cash on acquisitions and share repurchases in 2018. The company also initiated a restructuring program and expects it record annualized savings of roughly $85 million, once it is fully implemented.
During the second quarter, PPG Industries’ Industrial Coatings segment sales and total sales volumes improved year over year. Acquisition-related sales contributed to the growth. Notably, Performance coatings segment sales increased year over year on the back of favorable currency translation.
PPG Industries, Inc. Price and Consensus
PPG Industries, Inc. Price and Consensus | PPG Industries, Inc. Quote
Zacks Rank & Stocks to Consider
PPG Industries is a Zacks Rank #4 (Sell) stock.
Some better-ranked companies in the basic materials space are ArcelorMittal (MT - Free Report) , CF Industries Holdings, Inc. (CF - Free Report) and Air Products and Chemicals, Inc. (APD - Free Report) .
ArcelorMittal has an expected long-term earnings growth rate of 4.8% and a Zacks Rank #1 (Strong Buy). The company’s shares have gained 25% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
CF Industries has an expected long-term earnings growth rate of 6% and a Zacks Rank #2 (Buy). The company’s shares have rallied 57.6% in the past year.
Air Products has an expected long-term earnings growth rate of 16.2% and a Zacks Rank #2. Its shares have risen 10.9% in a year’s time.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>