Axalta Coating Systems Ltd (NASDAQ:AXTA) was upgraded by analysts at J P Morgan Chase & Co from a “neutral” rating to an “overweight” rating in a note issued to investors on Friday, Marketbeat reports. The brokerage currently has a $31.00 target price on the specialty chemicals company’s stock, up from their previous target price of $29.00. J P Morgan Chase & Co’s price objective would suggest a potential upside of 7.90% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. Jefferies Group LLC reissued a “buy” rating and set a $34.00 target price (down previously from $36.00) on shares of Axalta Coating Systems in a report on Wednesday. Royal Bank Of Canada reissued a “buy” rating and set a $34.00 target price on shares of Axalta Coating Systems in a report on Wednesday. Zacks Investment Research cut shares of Axalta Coating Systems from a “buy” rating to a “sell” rating in a report on Monday, August 7th. Citigroup Inc. reduced their target price on shares of Axalta Coating Systems from $33.00 to $31.00 and set a “buy” rating for the company in a report on Monday, August 7th. Finally, TheStreet cut shares of Axalta Coating Systems from a “b” rating to a “c” rating in a report on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $33.63.

Shares of Axalta Coating Systems (NASDAQ:AXTA) traded up 1.95% on Friday, reaching $28.73. 5,070,234 shares of the company traded hands. Axalta Coating Systems has a 1-year low of $24.27 and a 1-year high of $34.10. The stock has a market capitalization of $6.99 billion and a price-to-earnings ratio of 2873.00. The company has a 50-day moving average of $31.60 and a 200-day moving average of $31.25.

Axalta Coating Systems (NASDAQ:AXTA) last issued its earnings results on Thursday, August 3rd. The specialty chemicals company reported $0.31 earnings per share (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 business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the business earned $0.34 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. Analysts anticipate that Axalta Coating Systems will post $1.31 earnings per share for the current fiscal year.

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In other news, CEO Charles W. Shaver sold 179,487 shares of Axalta Coating Systems stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $31.32, for a total value of $5,621,532.84. Following the sale, the chief executive officer now owns 528,907 shares in the company, valued at $16,565,367.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Robert W. Bryant sold 40,237 shares of Axalta Coating Systems stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $31.40, for a total transaction of $1,263,441.80. Following the completion of the sale, the chief financial officer now owns 213,734 shares in the company, valued at approximately $6,711,247.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 438,289 shares of company stock worth $13,876,363.

Several hedge funds have recently made changes to their positions in AXTA. Gruss Capital Management LP bought a new stake in shares of Axalta Coating Systems during the second quarter valued at about $31,079,000. OxFORD Asset Management LLP raised its stake in shares of Axalta Coating Systems by 7.2% in the second quarter. OxFORD Asset Management LLP now owns 357,697 shares of the specialty chemicals company’s stock valued at $11,461,000 after buying an additional 24,086 shares during the period. Global Endowment Management LP bought a new stake in shares of Axalta Coating Systems during the second quarter valued at about $410,000. Dimensional Fund Advisors LP raised its stake in shares of Axalta Coating Systems by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 900,444 shares of the specialty chemicals company’s stock valued at $28,851,000 after buying an additional 50,471 shares during the period. Finally, Virtu KCG Holdings LLC bought a new stake in shares of Axalta Coating Systems during the second quarter valued at about $367,000.

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.

Analyst Recommendations for Axalta Coating Systems (NASDAQ:AXTA)

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