Axalta Coating Systems Ltd (NASDAQ:AXTA) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a note issued to investors on Monday.

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. “

AXTA has been the subject of several other reports. BidaskClub lowered shares of Axalta Coating Systems from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Instinet lowered shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and set a $33.00 price objective for the company. in a report on Friday, April 21st. Jefferies Group LLC restated a “buy” rating on shares of Axalta Coating Systems in a report on Thursday, July 6th. Royal Bank Of Canada restated a “buy” rating and issued a $36.00 price objective on shares of Axalta Coating Systems in a report on Thursday, July 6th. Finally, Bank of America Corporation lowered shares of Axalta Coating Systems from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $36.00 to $30.00 in a report on Wednesday, June 21st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $34.13.

Axalta Coating Systems (NASDAQ AXTA) traded down 0.57% during midday trading on Monday, reaching $28.08. 3,562,100 shares of the company’s stock traded hands. The company’s 50-day moving average price is $32.58 and its 200-day moving average price is $31.29. The stock has a market cap of $6.80 billion and a P/E ratio of 92.98. Axalta Coating Systems has a 52-week low of $24.27 and a 52-week high of $34.10.

Axalta Coating Systems (NASDAQ:AXTA) last issued its quarterly earnings data on Thursday, August 3rd. The specialty chemicals company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.08. Axalta Coating Systems had a return on equity of 21.46% and a net margin of 6.50%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the company posted $0.34 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, equities analysts predict that Axalta Coating Systems will post $1.33 EPS for the current fiscal year.

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In other Axalta Coating Systems news, VP Sean M. Lannon sold 4,340 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $31.35, for a total transaction of $136,059.00. Following the completion of the sale, the vice president now directly owns 4,088 shares in the company, valued at approximately $128,158.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Charles W. Shaver sold 179,487 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $31.32, for a total transaction of $5,621,532.84. Following the sale, the chief executive officer now owns 528,907 shares of the company’s stock, valued at $16,565,367.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 438,289 shares of company stock valued at $13,876,363.

A number of hedge funds have recently added to or reduced their stakes in AXTA. American Century Companies Inc. raised its stake in Axalta Coating Systems by 1.1% in the second quarter. American Century Companies Inc. now owns 1,272,162 shares of the specialty chemicals company’s stock worth $40,760,000 after buying an additional 14,372 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in Axalta Coating Systems during the second quarter worth $18,534,000. RiverPoint Capital Management LLC raised its stake in Axalta Coating Systems by 1.9% in the second quarter. RiverPoint Capital Management LLC now owns 12,940 shares of the specialty chemicals company’s stock worth $415,000 after buying an additional 245 shares in the last quarter. Federated Investors Inc. PA purchased a new stake in Axalta Coating Systems during the second quarter worth $2,379,000. Finally, State Board of Administration of Florida Retirement System raised its stake in Axalta Coating Systems by 11.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 149,355 shares of the specialty chemicals company’s stock worth $4,785,000 after buying an additional 15,120 shares in the last quarter.

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. 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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Analyst Recommendations for Axalta Coating Systems (NASDAQ:AXTA)

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