Shares of Axalta Coating Systems Ltd (NASDAQ:AXTA) have earned a consensus rating of “Hold” from the eighteen research firms that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a sell recommendation, six have given a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $32.23.
A number of research analysts recently issued reports on the stock. BidaskClub upgraded shares of Axalta Coating Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Bank of America Corporation downgraded shares of Axalta Coating Systems from a “buy” rating to an “underperform” rating and decreased their target price for the company from $36.00 to $30.00 in a research report on Wednesday, June 21st. Susquehanna Bancshares Inc initiated coverage on shares of Axalta Coating Systems in a report on Tuesday, July 18th. They issued a “neutral” rating and a $37.00 price objective for the company. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Axalta Coating Systems in a report on Friday, July 14th. Finally, Jefferies Group LLC reaffirmed a “buy” rating on shares of Axalta Coating Systems in a report on Thursday, July 6th.
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In other news, SVP Michael A. Cash sold 34,874 shares of the business’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $30.00, for a total transaction of $1,046,220.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Steven R. Markevich sold 900 shares of the business’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 sale, the executive vice president now directly owns 201,393 shares of the company’s stock, valued at approximately $5,924,982.06. The disclosure for this sale can be found here. Insiders have sold 195,774 shares of company stock valued at $5,771,898 in the last three months.
Several hedge funds have recently added to or reduced their stakes in AXTA. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Axalta Coating Systems during the second quarter worth about $108,000. Chicago Partners Investment Group LLC purchased a new stake in shares of Axalta Coating Systems during the second quarter worth about $127,000. Commonwealth Bank of Australia increased its stake in shares of Axalta Coating Systems by 18.1% during the second quarter. Commonwealth Bank of Australia now owns 4,581 shares of the specialty chemicals company’s stock worth $146,000 after purchasing an additional 703 shares in the last quarter. Acrospire Investment Management LLC increased its stake in shares of Axalta Coating Systems by 257.0% during the second quarter. Acrospire Investment Management LLC now owns 4,862 shares of the specialty chemicals company’s stock worth $156,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Advisor Group Inc. increased its stake in shares of Axalta Coating Systems by 217.3% during the second quarter. Advisor Group Inc. now owns 5,603 shares of the specialty chemicals company’s stock worth $179,000 after purchasing an additional 3,837 shares in the last quarter.
Shares of Axalta Coating Systems (NASDAQ AXTA) opened at 28.76 on Wednesday. The stock has a 50 day moving average price of $29.23 and a 200 day moving average price of $31.03. The stock has a market capitalization of $6.99 billion and a price-to-earnings ratio of 2876.00. Axalta Coating Systems has a 1-year low of $24.27 and a 1-year high of $34.10.
Axalta Coating Systems (NASDAQ:AXTA) last posted its earnings results on Thursday, August 3rd. The specialty chemicals company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.08). The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.12 billion. Axalta Coating Systems had a negative net margin of 1.73% and a negative return on equity of 6.61%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.34 earnings per share. Equities research analysts anticipate that Axalta Coating Systems will post $1.30 EPS for the current year.
About Axalta Coating Systems
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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