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PPG Industries (PPG) Launches Digital Color-Matching Device

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PPG Industries, Inc. PPG announced the launch of its ColorReader portable digital device. This device will enable customers in the commercial vehicle sector to match colors with the PPG Delfleet One color palette as well as international standard colors, rapidly and with accuracy.

ColorReader is a Bluetooth-connected device that works with a dedicated app. It is available on both IOS as well as Android tablets and smart phones. The device gives a highly accurate color match in just a few seconds.

The users are required to download the ColorReader app, connect with their smart phone or tablet, and place ColorReader on the painted surface to scan. The device also offers a smart solution when a smart phone or tablet is not available by immediately displaying the three closest matching colors on its built-in display after scanning, the company noted.

The company is focused on bringing innovative solutions to address its customers’ needs. With the introduction of ColorReader, it is bringing those benefits, especially speed and accuracy, to its consumers in the commercial vehicle sector.

PPG Industries received great response for the device from its recent launch in Europe, the Middle East and Africa.

Shares of PPG Industries have rallied 68.3% in the past year compared with 54% rise of the industry.

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Zacks Investment Research

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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 to rise a low-teen percentage in the second quarter compared with first-quarter levels and in line with historical pre-pandemic sequential quarterly changes.

PPG Industries, Inc. Price and Consensus

PPG Industries, Inc. Price and Consensus
PPG Industries, Inc. Price and Consensus

PPG Industries, Inc. price-consensus-chart | PPG Industries, Inc. Quote

Zacks Rank & Key Picks

PPG Industries currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the basic materials space are Nucor Corporation NUE, Olin Corporation OLN and Cabot Corporation CBT.

Nucor has a projected earnings growth rate of around 344.9% for the current year. The company’s shares have surged 135.3% 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 308.6% 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 60.2% in the past year. It currently carries a Zacks Rank #1.

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