Axalta Coating Systems Ltd. AXTA announced the launch of the Strenex industrial product line for general industrial, construction and fabrication in North America.
Strenex broadens Axalta’s Industrial product portfolio, and allows entry into the light and medium industrial markets across North America. Moreover, Strenex balances the demands of corrosion-resistance, environmental restrictions and aesthetic appeal to satisfy the most demanding manufacturing environments and application conditions. The products are also geared to offer quick drying times and ease of application.
Notably, the Strenex product family comprises waterborne and solventborne single-component alkyd and acrylic products as well as solventborne urethanes. Per management, the offering has a selection of fit-for-use quick-drying primers and direct-to-metal topcoats that enables users to lower manufacturing times and costs.
Axalta’s shares have declined 5.6% in the past year against a 47.3% rise of the industry.
On the first-quarter 2020 earnings call, the company expected the most severe demand impacts on its business due to the coronavirus outbreak in April and May. It expects net sales for April and May to decline around 50% from the year-ago reported figures.
The company is actively pursuing a reduction in fixed costs to offset the impacts of volume declines. It is also focused on cash generation for offsetting any impacts of lower volumes. Axalta expects to deliver more than $225 million in cash flow from cost-saving measures undertaken by the company.
Axalta Coating Systems Ltd. Price and Consensus
Axalta Coating Systems Ltd. Price and Consensus
Axalta Coating Systems Ltd. price-consensus-chart | Axalta Coating Systems Ltd. Quote
Zacks Rank & Stocks to Consider
Axalta currently carries a Zacks Rank #3 (Hold).
Some better-ranked companies in the basic materials space are Agnico Eagle Mines Limited AEM, Franco-Nevada Corporation FNV and Barrick Gold Corporation GOLD.
Agnico Eagle currently sports a Zacks Rank #1 (Strong Buy) and has a projected earnings growth rate of 74.2% for 2020. The company’s shares have gained 27.7% in a year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Franco-Nevada has an expected earnings growth rate of 19.2% for 2020. The company’s shares have surged 67.9% in the past year. It currently has a Zacks Rank #2 (Buy).
Barrick has a projected earnings growth rate of 64.7% for the current year. The company’s shares have rallied around 80% in a year. It currently has a Zacks Rank #2.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
FrancoNevada Corporation (FNV) : Free Stock Analysis Report
Barrick Gold Corporation (GOLD) : Free Stock Analysis Report
Agnico Eagle Mines Limited (AEM) : Free Stock Analysis Report
Axalta Coating Systems Ltd. (AXTA) : Free Stock Analysis Report
To read this article on Zacks.com click here.