PPG brand chooses 2017 color of the year
On August 29, 2016, Pittsburgh Paints & Stains, a brand of PPG Industries (PPG), announced Silverado (MEN7049-5), a mystic purple, as the 2017 color of the year. That same day, Sherwin-Williams (SHW) announced Poised Taupe as its 2017 color of the year.
Misty Yeomans, PPG’s color marketing manager for Pittsburgh Paints & Stains, said, “PPG’s global color experts selected a striking purple hue for the Pittsburgh Paints & Stains brand 2017 Color of the Year after studying consumers’ growing fascination with space, spirituality, technology and time. Silverado perfectly mimics the deep, mysterious yet organic tones of outer space.”
Consumers can purchase the Pittsburgh Paints & Stains brand exclusively at Menards stores.
PPG’s stock price movement
On September 2, 2016, PPG Industries closed at $107.04, a 1.2% rise, for the week ended September 2, 2016. The iShares US Basic Materials ETF (IYM), which held 5.1% in PPG as of September 2, rose 1.1% and closed at $80.97. PPG’s peer RPM International (RPM) rose 1.5%, and Sherwin-Williams rose 0.2% for the same period.
PPG stock closed 0.3% lower than its 100-day moving average price of $107.43, indicating a minor downtrend in the stock. Analysts expect PPG’s 12-month target price to be $123.10, implying a potential return of ~15% over the closing price of September 2, 2016. On a year-to-date basis, Sherwin-Williams has risen 8.3%.