Royal Bank Of Canada restated their buy rating on shares of Axalta Coating Systems Ltd (NASDAQ:AXTA) in a research report sent to investors on Wednesday. Royal Bank Of Canada currently has a $34.00 target price on the specialty chemicals company’s stock.
Several other equities research analysts have also recently commented on AXTA. UBS AG reiterated a buy rating and set a $39.00 price target (up previously from $37.00) on shares of Axalta Coating Systems in a research report on Tuesday, June 6th. Barclays PLC restated an equal weight rating and set a $33.00 price objective (down previously from $34.00) on shares of Axalta Coating Systems in a report on Friday, August 4th. BidaskClub cut shares of Axalta Coating Systems from a sell rating to a strong sell rating in a report on Friday, August 4th. TheStreet cut shares of Axalta Coating Systems from a b rating to a c rating in a report on Thursday, August 3rd. Finally, Citigroup Inc. decreased their price objective on shares of Axalta Coating Systems from $33.00 to $31.00 and set a buy rating for the company in a report on Monday, August 7th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $33.63.
Shares of Axalta Coating Systems (NASDAQ AXTA) traded up 1.95% during mid-day trading on Wednesday, reaching $28.73. 5,070,234 shares of the company were exchanged. The stock has a market capitalization of $6.99 billion and a P/E ratio of 2873.00. The firm has a 50-day moving average price of $31.60 and a 200 day moving average price of $31.25. Axalta Coating Systems has a 12 month low of $24.27 and a 12 month high of $34.10.
Axalta Coating Systems (NASDAQ:AXTA) last issued its quarterly earnings results on Thursday, August 3rd. The specialty chemicals company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.39 by $0.08. Axalta Coating Systems had a return on equity of 21.46% and a net margin of 6.50%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the firm earned $0.34 EPS. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities research analysts anticipate that Axalta Coating Systems will post $1.31 EPS for the current fiscal year.
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In other Axalta Coating Systems news, VP Sean M. Lannon sold 4,340 shares of Axalta Coating Systems 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 owns 4,088 shares of the company’s stock, valued at $128,158.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Michael A. Cash sold 18,851 shares of Axalta Coating Systems stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $31.41, for a total transaction of $592,109.91. Following the completion of the transaction, the senior vice president now directly owns 152,417 shares in the company, valued at approximately $4,787,417.97. The disclosure for this sale can be found here. In the last ninety days, insiders sold 438,289 shares of company stock worth $13,876,363.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Robeco Institutional Asset Management B.V. bought a new position in shares of Axalta Coating Systems during the second quarter worth $108,000. Chicago Partners Investment Group LLC bought a new position in shares of Axalta Coating Systems during the second quarter worth $127,000. Commonwealth Bank of Australia raised its position in shares of Axalta Coating Systems by 18.1% in the second quarter. Commonwealth Bank of Australia now owns 4,581 shares of the specialty chemicals company’s stock worth $146,000 after buying an additional 703 shares during the last quarter. Acrospire Investment Management LLC raised its position in shares of Axalta Coating Systems by 257.0% in the second quarter. Acrospire Investment Management LLC now owns 4,862 shares of the specialty chemicals company’s stock worth $156,000 after buying an additional 3,500 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its position in shares of 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 during the last quarter.
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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