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.”
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.
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).