PPG Industries (PPG) Introduces Digital Services Platform

PPG Industries Inc. (NYSE:PPG) recently launched its digitally-enabled service platform, PPG Services.

The new platform enables businesses with several commercial facilities across the United States to identify and connect with established professional painters. It can then schedule and manage general painting maintenance projects.

Per PPG Industries, the painting service industry is growing at a rapid pace. This enables the company to efficiently manage complex needs of customers. PPG Services is based on its long-term growth strategy to deliver differentiated digital solutions for key customers, the company noted.

Notably, the system is aimed to simplify the project management process. It provides small and medium-sized painting firms to boost their business and connect commercial customers with a marketplace of established professional painters.

The platform is intended for commercial businesses, which have multiple locations such as commercial property managers for large office, hospitality and retail chains. However, the service is not targeted for large commercial projects that are typically served by general contractors.

The platform’s comprehensive, one-stop service is powered by proprietary technology from Paintzen. It is an innovative online tool that connects painters with home and business owners.

The customer-focused solutions are backed by the company’s more than 135 years of industry experience. Consistency, speed, efficiency and savings will be achieved through scheduling, job quoting and project management.

Shares of PPG Industries have gained 5.3% in the past year against the 37.6% decline of the industry.

PPG Industries has a diversified business, in terms of products offered and geographical presence. It has a leading position in several paints and coatings end markets. The company is expected to gain from its cost-cutting initiatives, pricing actions and strategic acquisitions amid headwinds including soft industrial demand.

Zacks Rank & Key Picks

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

Some better-ranked stocks in the basic materials space are Kinross Gold Corporation (NYSE:KGC) , Alamos Gold Inc (TSX:AGI) and Arconic Inc (NYSE:ARNC) , all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Kinross has an expected earnings growth rate of 160% for 2019. The company’s shares have surged 63.6% in the past year.

Alamos Gold has projected earnings growth rate of 320% for the current year. The company’s shares have rallied 41.1% in a year’s time.

Arconic has an estimated earnings growth rate of 50% for the current year. Its shares have moved up 19.1% in the past year.

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