A Look at Axalta’s New Product Launches
Axalta’s product updates
On September 18, 2017, Axalta Coating Systems (AXTA) announced that it has added new polyurethane topcoats to expand its Tufcote brand. The topcoats are believed to have fast drying ability and save application time. The company claims that the Tufcote LV HG Polyurethane Topcoat is highly durable and provides protection on surfaces of ferrous metals, wood, and concrete when used with Tufcote MX-5599 polyurethane activator. This product is targeted at industrial applications.
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John Corry, Axalta’s product director for Industrial North America, said, “Industrial maintenance structures are constructed to last and need a tough, durable finish to complement its sturdy build. We are excited to add the Tufcote LV HG Polyurethane Topcoats to our growing line of Tufcote economy products to help combat the impact of harsh environments and expand the product technologies available to our customers.”
In another move, Axalta introduced Eloxal Selection from its Alesta Super Durable coatings. The company claims that Eloxal Selection provides high durability and high weather resistance and is ideal for outdoor architectural applications. The new coatings meet European environmental standards and are GSB Master and Qualicoat class 2 certified.
Axalta’s stock performance last week
AXTA stock remained on the downside, falling 0.80% and closing at $29.03 for the week ended September 22, 2017. AXTA underperformed the iShares US Basic Materials (IYM), which rose 1.1% for the same period. AXTA’s peers PPG Industries (PPG), RPM International (RPM), and Sherwin Williams (SHW) rose 2.3%, 0.90%, and 2.6%, respectively, for the same week.
The fall in AXTA stock pushed AXTA to trade 6.6% below the 100-day moving average price of $31.09, indicating a prevailing weakness in the stock. It remains to be seen if the company’s positive developments can help AXTA outperform analysts’ expectations in its 3Q17 earnings.