Axalta Coating Systems Ltd (NASDAQ:AXTA) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Friday.

A number of other brokerages have also issued reports on AXTA. Zacks Investment Research raised Axalta Coating Systems from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Wednesday, June 28th. UBS AG reissued a “buy” rating and issued a $39.00 target price (up previously from $37.00) on shares of Axalta Coating Systems in a research report on Tuesday, June 6th. Citigroup Inc. reissued a “neutral” rating and issued a $33.00 target price (up previously from $30.00) on shares of Axalta Coating Systems in a research report on Friday, April 14th. Nomura lowered Axalta Coating Systems from a “buy” rating to a “neutral” rating and set a $33.00 target price on the stock. in a research report on Friday, April 21st. Finally, Susquehanna Bancshares Inc assumed coverage on Axalta Coating Systems in a research report on Tuesday, July 18th. They issued a “neutral” rating and a $37.00 target price on the stock. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. Axalta Coating Systems currently has a consensus rating of “Hold” and a consensus target price of $34.27.

Shares of Axalta Coating Systems (NASDAQ AXTA) traded down 3.45% during trading on Friday, hitting $28.24. The stock had a trading volume of 6,832,852 shares. The company has a market capitalization of $6.84 billion and a price-to-earnings ratio of 93.51. Axalta Coating Systems has a 1-year low of $24.27 and a 1-year high of $34.10. The firm has a 50 day moving average of $32.58 and a 200 day moving average of $31.29.

Axalta Coating Systems (NASDAQ:AXTA) last released its quarterly earnings results on Thursday, August 3rd. The specialty chemicals company reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate 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 return on equity of 21.46% and a net margin of 6.50%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.34 EPS. Analysts expect that Axalta Coating Systems will post $1.34 EPS for the current fiscal year.

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In other Axalta Coating Systems news, VP Sean M. Lannon sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $33.00, for a total value of $165,000.00. Following the completion of the transaction, the vice president now directly owns 16,286 shares in the company, valued at $537,438. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Sean M. Lannon sold 4,340 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $31.35, for a total value of $136,059.00. Following the completion of the transaction, the vice president now owns 4,088 shares of the company’s stock, valued at $128,158.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 438,289 shares of company stock valued at $13,876,363.

A number of hedge funds and other institutional investors have recently bought and sold shares of AXTA. BlackRock Inc. increased its position in Axalta Coating Systems by 6,436.4% in the first quarter. BlackRock Inc. now owns 18,564,446 shares of the specialty chemicals company’s stock worth $597,775,000 after buying an additional 18,280,429 shares in the last quarter. Bessemer Group Inc. increased its position in Axalta Coating Systems by 554,273.3% in the second quarter. Bessemer Group Inc. now owns 2,760,779 shares of the specialty chemicals company’s stock worth $88,456,000 after buying an additional 2,760,281 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in Axalta Coating Systems by 260.7% in the first quarter. TIAA CREF Investment Management LLC now owns 1,898,024 shares of the specialty chemicals company’s stock worth $61,116,000 after buying an additional 1,371,808 shares in the last quarter. MARSHALL WACE ASIA Ltd bought a new position in Axalta Coating Systems during the first quarter worth $38,627,000. Finally, Marshall Wace North America L.P. bought a new position in Axalta Coating Systems during the first quarter worth $38,627,000.

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.

Analyst Recommendations for Axalta Coating Systems (NASDAQ:AXTA)

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