Axalta Coating Systems Ltd (AXTA) Downgraded by Citigroup Inc. to “Sell”

Citigroup Inc. lowered shares of Axalta Coating Systems Ltd (NASDAQ:AXTA) from a neutral rating to a sell rating in a research report sent to investors on Tuesday. Citigroup Inc. currently has $25.00 target price on the specialty chemicals company’s stock, down from their prior target price of $31.00.

AXTA has been the subject of a number of other research reports. BidaskClub downgraded Axalta Coating Systems from a hold rating to a sell rating in a research report on Thursday, July 27th. Susquehanna Bancshares Inc began coverage on Axalta Coating Systems in a research note on Tuesday, July 18th. They set a neutral rating and a $37.00 price objective for the company. Barclays PLC reaffirmed an equal weight rating and set a $33.00 price objective (down from $34.00) on shares of Axalta Coating Systems in a research note on Friday, August 4th. TheStreet cut Axalta Coating Systems from a b rating to a c rating in a research note on Thursday, August 3rd. Finally, Jefferies Group LLC reissued a buy rating and issued a $34.00 target price (down from $36.00) on shares of Axalta Coating Systems in a research note on Wednesday, August 9th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. Axalta Coating Systems presently has a consensus rating of Hold and an average price target of $32.23.

Shares of Axalta Coating Systems (NASDAQ:AXTA) opened at 28.76 on Tuesday. The firm has a market capitalization of $6.99 billion and a price-to-earnings ratio of 2876.00. The firm has a 50-day moving average price of $29.23 and a 200 day moving average price of $31.03. 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 data on Thursday, August 3rd. The specialty chemicals company reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.08). Axalta Coating Systems had a negative net margin of 1.73% and a negative return on equity of 6.61%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the firm posted $0.34 EPS. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, analysts anticipate that Axalta Coating Systems will post $1.30 EPS for the current fiscal year.

WARNING: This report was originally posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this report on another site, it was illegally copied and reposted in violation of US and international trademark and copyright law. The correct version of this report can be viewed at https://stocknewstimes.com/2017/10/11/axalta-coating-systems-ltd-axta-downgraded-by-citigroup-inc-to-sell.html.

In other news, EVP Steven R. Markevich sold 900 shares of the company’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $29.42, for a total transaction of $26,478.00. Following the completion of the transaction, the executive vice president now directly owns 201,393 shares of the company’s stock, valued at $5,924,982.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael A. Cash sold 34,874 shares of the company’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $30.00, for a total value of $1,046,220.00. The disclosure for this sale can be found here. Insiders have sold 195,774 shares of company stock valued at $5,771,898 over the last ninety days.

Several hedge funds have recently bought and sold shares of the company. Aristotle Capital Management LLC boosted its position in shares of Axalta Coating Systems by 0.3% during the first quarter. Aristotle Capital Management LLC now owns 70,900 shares of the specialty chemicals company’s stock worth $2,283,000 after buying an additional 180 shares during the period. HighTower Advisors LLC boosted its position in shares of Axalta Coating Systems by 1.4% during the first quarter. HighTower Advisors LLC now owns 15,520 shares of the specialty chemicals company’s stock worth $499,000 after buying an additional 209 shares during the period. Financial Counselors Inc. boosted its position in shares of Axalta Coating Systems by 3.3% during the second quarter. Financial Counselors Inc. now owns 7,145 shares of the specialty chemicals company’s stock worth $229,000 after buying an additional 225 shares during the period. RiverPoint Capital Management LLC boosted its position in shares of Axalta Coating Systems by 1.9% during the second quarter. RiverPoint Capital Management LLC now owns 12,940 shares of the specialty chemicals company’s stock worth $415,000 after buying an additional 245 shares during the period. Finally, Investment Counselors of Maryland LLC boosted its position in shares of Axalta Coating Systems by 0.7% during the second quarter. Investment Counselors of Maryland LLC now owns 51,401 shares of the specialty chemicals company’s stock worth $1,647,000 after buying an additional 375 shares during the period.

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.

Analyst Recommendations for Axalta Coating Systems (NASDAQ:AXTA)

Receive News & Ratings for Axalta Coating Systems Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axalta Coating Systems Ltd and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply