Axalta Coating Systems Ltd. (AXTA) Given Consensus Recommendation of “Buy” by Brokerages
Axalta Coating Systems Ltd. (NYSE:AXTA) has earned a consensus recommendation of “Buy” from the sixteen brokerages that are currently covering the company. Five investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $33.70.
A number of equities analysts have commented on AXTA shares. Zacks Investment Research upgraded Axalta Coating Systems from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Tuesday. Seaport Global Securities upgraded Axalta Coating Systems from an “accumulate” rating to a “buy” rating and lifted their target price 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 started coverage on Axalta Coating Systems in a report on Thursday, September 1st. They set a “buy” rating and a $37.00 price target on the stock. Finally, JPMorgan Chase & Co. set a $30.00 price target on Axalta Coating Systems and gave the company a “hold” rating in a report on Wednesday, August 3rd.
In other Axalta Coating Systems news, CEO Charles W. Shaver sold 200,000 shares of Axalta Coating Systems stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $28.21, for a total transaction of $5,642,000.00. Following the transaction, the chief executive officer now directly owns 762,110 shares in the company, valued at approximately $21,499,123.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Charles W. Shaver sold 24,237 shares of Axalta Coating Systems stock in a transaction that occurred on 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 in the company, valued at $20,422,111.05. The disclosure for this sale can be found here. 2.79% of the stock is owned by company insiders.
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Institutional investors have recently bought and sold shares of the company. Fox Run Management L.L.C. purchased a new position in Axalta Coating Systems during the third quarter valued at $356,000. British Columbia Investment Management Corp boosted its position in Axalta Coating Systems by 116.3% in the third quarter. British Columbia Investment Management Corp now owns 227,005 shares of the company’s stock valued at $6,417,000 after buying an additional 122,055 shares during the last quarter. First Mercantile Trust Co. boosted its position in Axalta Coating Systems by 14.8% in the third quarter. First Mercantile Trust Co. now owns 6,200 shares of the company’s stock valued at $175,000 after buying an additional 800 shares during the last quarter. Norman Fields Gottscho Capital Management LLC boosted its position in Axalta Coating Systems by 10.2% in the third quarter. Norman Fields Gottscho Capital Management LLC now owns 196,600 shares of the company’s stock valued at $5,558,000 after buying an additional 18,250 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in Axalta Coating Systems by 71.9% in the second quarter. Royal Bank of Canada now owns 12,117 shares of the company’s stock valued at $322,000 after buying an additional 5,067 shares during the last quarter. Hedge funds and other institutional investors own 99.27% of the company’s stock.
Shares of Axalta Coating Systems (NYSE:AXTA) traded up 1.327% during mid-day trading on Thursday, hitting $26.345. The stock had a trading volume of 1,506,242 shares. The stock has a market cap of $6.30 billion, a P/E ratio of 41.951 and a beta of 1.62. Axalta Coating Systems has a one year low of $20.67 and a one year high of $30.45. The firm has a 50 day moving average of $27.98 and a 200-day moving average of $28.13.
Axalta Coating Systems (NYSE:AXTA) last issued its earnings results on Tuesday, July 26th. The company reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by $0.01. Axalta Coating Systems had a net margin of 3.76% and a return on equity of 20.89%. The company earned $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the firm earned $0.35 earnings per share. The business’s revenue was down 2.6% on a year-over-year basis. Equities research analysts expect that Axalta Coating Systems will post $1.16 earnings per share for the current fiscal year.
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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