Axalta Coating Systems Ltd. (AXTA) Upgraded to Buy by 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 report issued to clients and investors on Tuesday. The firm currently has a $30.00 price target on the stock. Zacks Investment Research’s target price would suggest a potential upside of 12.65% 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. “
A number of other brokerages also recently issued reports on AXTA. JPMorgan Chase & Co. set a $30.00 target price on Axalta Coating Systems and gave the stock a “hold” rating in a research note on Wednesday, August 3rd. Barclays PLC reissued a “hold” rating on shares of Axalta Coating Systems in a research note on Thursday, July 28th. Credit Suisse Group AG reissued an “outperform” rating and set a $34.00 target price on shares of Axalta Coating Systems in a research note on Thursday, September 8th. Nomura reissued a “buy” rating on shares of Axalta Coating Systems in a research note on Tuesday, July 12th. Finally, Seaport Global Securities raised Axalta Coating Systems from an “accumulate” rating to a “buy” rating and increased their target price for the stock from $34.00 to $36.00 in a research note on Wednesday, July 27th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Axalta Coating Systems has a consensus rating of “Buy” and an average target price of $32.69.
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Shares of Axalta Coating Systems (NYSE:AXTA) traded down 2.685% during trading on Tuesday, reaching $25.915. The company had a trading volume of 1,911,898 shares. The firm has a market capitalization of $6.20 billion, a P/E ratio of 41.266 and a beta of 1.62. The firm’s 50 day moving average price is $28.04 and its 200 day moving average price is $28.16. Axalta Coating Systems has a 12 month low of $20.67 and a 12 month high of $30.45.
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 the Thomson Reuters’ consensus estimate of $0.35 by $0.01. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Axalta Coating Systems had a net margin of 3.76% and a return on equity of 20.89%. The firm’s revenue was down 2.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.35 earnings per share. Equities analysts predict that Axalta Coating Systems will post $1.16 EPS for the current year.
In other Axalta Coating Systems news, EVP Steven R. Markevich sold 133,164 shares of the stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $28.25, for a total transaction of $3,761,883.00. Following the sale, the executive vice president now owns 295,694 shares in the company, valued at approximately $8,353,355.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Robert W. Bryant sold 227,654 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $28.33, for a total value of $6,449,437.82. Following the sale, the chief financial officer now owns 294,256 shares in the company, valued at approximately $8,336,272.48. The disclosure for this sale can be found here. Company insiders own 2.79% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Daiwa Securities Group Inc. boosted its stake 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 period. American International Group Inc. raised its position in shares of 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. Mn Services Vermogensbeheer B.V. raised its position in shares of 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. Tredje AP fonden acquired a new position in shares of Axalta Coating Systems during the second quarter worth $122,000. Finally, First Mercantile Trust Co. acquired a new position in shares of Axalta Coating Systems during the second quarter worth $143,000. Hedge funds and other institutional investors own 99.27% of the company’s stock.
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. 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.
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