Axalta’s 2019 automotive color of the year
On January 10, Axalta (AXTA) choose ‘Sahara,’ a golden bronze tone, as the 2019 automotive color of the year. Sahara radiates warmth and brings richness and strength to all vehicles irrespective of sizes. Axalta showcased Sahara in manufacturing facilities as well as the aftermarket for the first time in the five-year history of the automotive color of the year. Sahara could be the main color for two-tones. Axalta has been announcing the automotive color of the year since 2015. Axalta selected Radiant Red in 2015, Brilliant Blue in 2016, Gallant Gray in 2017, and Starlite in 2018.
Axalta will display Sahara at the 2019 North American International auto show in Detroit. Dan Benton, the marketing manager ofAxalta’s refinish color department, said, “Axalta’s Color of the Year is another example of how Axalta transfers OEM technology to the aftermarket and repair businesses. We get calls every year from some of the industry’s best custom builders looking to use color to differentiate their products. We have Sahara formulated and ready-to-go in our industry-leading refinish brands including Cromax, Standox, and Spies Hecker.”
Axalta’s stock price update
Axalta continued its upward trend in 2019. The stock gained 4.8% and closed at $24.96 for the week ending January 11. The gain in the stock price helped narrow the company’s 100-day moving average gap. Axalta traded 4.8% below its 100-day moving average price of $26.23. So far in 2019, Axalta has gained 6.6%%. RPM International (RPM) and PPG Industries have declined 7.0% and 0.4%, respectively, while Sherwin-Williams (SHW) has gained 0.6%.
Axalta’s 14-day RSI (relative strength index) is at 61, which indicates that the stock isn’t overbought or oversold. An RSI of 30 and below suggests that the stock is oversold, while an RSI of 70 and above suggests that the stock is overbought.
Investors can hold Axalta indirectly by investing in the iShares U.S. Basic Materials ETF (IYM). IYM has invested 0.9% of its holdings in Axalta as of January 11.