Axalta Coating Systems Ltd. (AXTA) Lifted to “Buy” at Zacks Investment Research
Axalta Coating Systems Ltd. (NYSE:AXTA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage presently has a $30.00 target price on the stock. Zacks Investment Research’s price target would indicate a potential upside of 14.72% from the company’s previous close.
According to Zacks, “Axalta Coating Systems Ltd. is a global coatings company engaged in the manufacturing, marketing and distribution of coatings systems. The company offers waterborne and solvent borne coatings; liquid and powder coatings; and liquid coatings. It provides a range of performance and transportation coatings for manufacturers of light and commercial vehicles, the refinish aftermarket and for many industrial applications. The Company’s products and services include paint, color matching tools, application technologies and customer training, support and business management systems. Axalta Coating Systems Ltd. is headquartered in Philadelphia, Pennsylvania. “
Other research analysts have also issued reports about the stock. Seaport Global Securities upgraded shares of Axalta Coating Systems from an “accumulate” rating to a “buy” rating and lifted their price objective for the company from $34.00 to $36.00 in a research note on Wednesday, July 27th. Nomura reaffirmed a “buy” rating on shares of Axalta Coating Systems in a report on Tuesday, July 12th. Gabelli assumed coverage on shares of Axalta Coating Systems in a report on Thursday, September 1st. They issued a “buy” rating and a $37.00 target price on the stock. JPMorgan Chase & Co. set a $30.00 target price on shares of Axalta Coating Systems and gave the company a “hold” rating in a report on Wednesday, August 3rd. Finally, Barclays PLC reaffirmed a “hold” rating on shares of Axalta Coating Systems in a report on Thursday, July 28th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $32.69.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/11/axalta-coating-systems-ltd-axta-lifted-to-buy-at-zacks-investment-research.html
Axalta Coating Systems (NYSE:AXTA) traded down 1.80% during mid-day trading on Tuesday, reaching $26.15. 2,775,942 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $28.04 and its 200 day moving average is $28.16. Axalta Coating Systems has a 1-year low of $20.67 and a 1-year high of $30.45. The stock has a market capitalization of $6.25 billion, a PE ratio of 41.64 and a beta of 1.62.
Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by $0.01. The business earned $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. Axalta Coating Systems had a net margin of 3.76% and a return on equity of 20.89%. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.35 earnings per share. Analysts forecast that Axalta Coating Systems will post $1.16 earnings per share for the current fiscal year.
In other Axalta Coating Systems news, VP Sean M. Lannon sold 17,000 shares of Axalta Coating Systems stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $28.01, for a total transaction of $476,170.00. Following the completion of the transaction, the vice president now owns 5,842 shares in the company, valued at $163,634.42. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Charles W. Shaver sold 24,237 shares of Axalta Coating Systems stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of $28.05, for a total transaction of $679,847.85. Following the transaction, the chief executive officer now owns 728,061 shares of the company’s stock, valued at approximately $20,422,111.05. The disclosure for this sale can be found here. Company insiders own 2.79% of the company’s stock.
A number of institutional investors have recently made changes to their positions in AXTA. Daiwa Securities Group Inc. boosted its position in shares of Axalta Coating Systems by 29.0% in the second quarter. Daiwa Securities Group Inc. now owns 4,000 shares of the company’s stock worth $106,000 after buying an additional 900 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its position in Axalta Coating Systems by 28.7% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 4,524 shares of the company’s stock worth $108,000 after buying an additional 1,010 shares in the last quarter. American International Group Inc. raised its position in Axalta Coating Systems by 61.9% in the second quarter. American International Group Inc. now owns 4,059 shares of the company’s stock worth $108,000 after buying an additional 1,552 shares in the last quarter. Tredje AP fonden purchased a new position in Axalta Coating Systems during the second quarter worth $122,000. Finally, First Mercantile Trust Co. purchased a new position in Axalta Coating Systems during the second quarter worth $143,000. Institutional investors own 99.27% of the company’s stock.
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. Its segments include Performance Coatings and Transportation Coatings. The Company, through its Performance Coatings segment, provides liquid and powder coatings solutions to a fragmented and local customer base.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.