Axalta Coating Systems Ltd (NASDAQ:AXTA)‘s stock had its “buy” rating reissued by stock analysts at Royal Bank Of Canada in a research report issued to clients and investors on Friday. They currently have a $37.00 price objective on the specialty chemicals company’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 10.91% from the stock’s current price.
Other analysts have also issued research reports about the company. TheStreet raised Axalta Coating Systems from a “c” rating to a “b” rating in a report on Wednesday, April 26th. Jefferies Group LLC reissued a “buy” rating on shares of Axalta Coating Systems in a report on Wednesday, April 26th. Zacks Investment Research raised Axalta Coating Systems from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a report on Tuesday, April 11th. BidaskClub raised Axalta Coating Systems from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Finally, UBS AG reissued a “buy” rating and set a $39.00 price target (up previously from $37.00) on shares of Axalta Coating Systems in a report on Tuesday, June 6th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. Axalta Coating Systems currently has a consensus rating of “Hold” and an average target price of $34.12.
Shares of Axalta Coating Systems (AXTA) traded down 0.42% during mid-day trading on Friday, reaching $33.22. The company had a trading volume of 660,314 shares. Axalta Coating Systems has a one year low of $24.27 and a one year high of $34.10. The firm has a 50 day moving average of $32.29 and a 200-day moving average of $30.42. The stock has a market capitalization of $8.04 billion and a P/E ratio of 110.00.
Axalta Coating Systems (NASDAQ:AXTA) last released its quarterly earnings results on Wednesday, April 26th. The specialty chemicals company reported $0.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.02. Axalta Coating Systems had a return on equity of 21.46% and a net margin of 6.50%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $994.43 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. Axalta Coating Systems’s revenue for the quarter was up 5.5% on a year-over-year basis. Analysts forecast that Axalta Coating Systems will post $1.39 EPS for the current fiscal year.
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In other news, VP Sean M. Lannon sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $33.00, for a total transaction of $165,000.00. Following the transaction, the vice president now owns 16,286 shares of the company’s stock, valued at $537,438. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Sean M. Lannon sold 4,340 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $31.35, for a total value of $136,059.00. Following the transaction, the vice president now directly owns 4,088 shares in the company, valued at approximately $128,158.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 443,289 shares of company stock worth $14,039,963.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mn Services Vermogensbeheer B.V. boosted its position in Axalta Coating Systems by 5.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 5,772 shares of the specialty chemicals company’s stock worth $174,000 after buying an additional 294 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in Axalta Coating Systems by 16.7% in the first quarter. Daiwa Securities Group Inc. now owns 6,300 shares of the specialty chemicals company’s stock worth $203,000 after buying an additional 900 shares in the last quarter. Prudential Financial Inc. acquired a new position in Axalta Coating Systems during the first quarter worth approximately $210,000. Chevy Chase Trust Holdings Inc. acquired a new position in Axalta Coating Systems during the second quarter worth approximately $212,000. Finally, Comerica Bank acquired a new position in Axalta Coating Systems during the fourth quarter worth approximately $218,000.
Axalta Coating Systems Company Profile
Axalta Coating Systems Ltd. is a holding company. The Company is a manufacturer, marketer and distributor of coatings systems primarily serving the transportation industry. The Company’s segments include Performance Coatings and Transportation Coatings. Through its Performance Coatings segment, the Company provides liquid and powder coatings solutions to a fragmented and local customer base.
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