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Axalta Introduces New Color to Its Alesta Portfolio

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Aug. 28 2017, Published 4:35 p.m. ET

Axalta introduces new shade

On August 24, 2017, Axalta (AXTA) introduced a new color, RAL 9006, and expanded the portfolio of its Alesta AR500 powder coating. This new shade will cater to the architectural industry and is claimed to provide a smooth, silver metallic finish that can withstand severe climates.

RAL 9006 meets the American Architectural Manufacturers Association 2605 specifications.

Manny Mayer, AXTA’s Architectural Business Development Manager, announced: “We are excited to release RAL 9006 to the Alesta AR500 powder coating family. As part of our architectural portfolio, AR500 RAL 9006 provides a beautiful finish with chemical and corrosion resistance. We take pride in being at the forefront of innovation to meet the demands of the industry.”

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Axalta’s stock performance for the week ended August 25

AXTA had a quiet week, with its stock falling only 0.2% to close at $29.14. After its lower-than-expected 2Q17 earnings, AXTA’s stock has been on a declining trend. AXTA traded 7.6% lower than its 100-day moving average price of $31.54, indicating a downward trend.

However, analysts’ forecast that AXTA’s 12-month target price will be $32.59, implying a return potential of 11.8% from the closing price as of August 25, 2017. AXTA’s 14-day relative strength index of 39 indicates that the stock is neither overbought nor oversold.

By comparison, peers PPG Industries (PPG), Sherwin-Williams (SHW), and RPM International (RPM) have gained 1.6%, 3.1%, and 0.7% during the same period.

Investors can indirectly hold Axalta stock by investing in the iShares US Basic Materials ETF (IYM), which has 1.0%of its portfolio in AXTA. The fund gained 1.8% last week (ended August 25, 2017).

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