Axalta Coating Systems Ltd (AXTA) Given Average Recommendation of “Hold” by Analysts
Axalta Coating Systems Ltd (NASDAQ:AXTA) has been assigned a consensus recommendation of “Hold” from the eighteen ratings firms that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $33.15.
A number of brokerages have issued reports on AXTA. J P Morgan Chase & Co upgraded shares of Axalta Coating Systems from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $29.00 to $31.00 in a research report on Friday, August 11th. Jefferies Group LLC restated a “buy” rating and set a $34.00 target price (down previously from $36.00) on shares of Axalta Coating Systems in a research report on Wednesday, August 9th. Royal Bank Of Canada restated a “buy” rating and set a $34.00 target price on shares of Axalta Coating Systems in a research report on Wednesday, August 9th. Zacks Investment Research lowered shares of Axalta Coating Systems from a “buy” rating to a “sell” rating in a research report on Monday, August 7th. Finally, Citigroup Inc. decreased their target price on shares of Axalta Coating Systems from $33.00 to $31.00 and set a “buy” rating on the stock in a research report on Monday, August 7th.
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In related news, CFO Robert W. Bryant sold 114,500 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $32.13, for a total value of $3,678,885.00. Following the completion of the transaction, the chief financial officer now owns 328,234 shares of the company’s stock, valued at approximately $10,546,158.42. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Samuel L. Smolik acquired 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was bought at an average cost of $28.16 per share, with a total value of $112,640.00. Following the purchase, the director now owns 4,000 shares in the company, valued at $112,640. The disclosure for this purchase can be found here. In the last three months, insiders sold 319,500 shares of company stock valued at $9,828,285.
A number of large investors have recently modified their holdings of the stock. US Bancorp DE lifted its stake in Axalta Coating Systems by 0.5% in the 1st quarter. US Bancorp DE now owns 14,234 shares of the specialty chemicals company’s stock valued at $458,000 after purchasing an additional 74 shares during the last quarter. ProShare Advisors LLC lifted its stake in Axalta Coating Systems by 0.9% in the 1st quarter. ProShare Advisors LLC now owns 16,703 shares of the specialty chemicals company’s stock valued at $538,000 after purchasing an additional 157 shares during the last quarter. Aristotle Capital Management LLC lifted its stake in Axalta Coating Systems by 0.3% in the 1st quarter. Aristotle Capital Management LLC now owns 70,900 shares of the specialty chemicals company’s stock valued at $2,283,000 after purchasing an additional 180 shares during the last quarter. HighTower Advisors LLC lifted its stake in Axalta Coating Systems by 1.4% in the 1st quarter. HighTower Advisors LLC now owns 15,520 shares of the specialty chemicals company’s stock valued at $499,000 after purchasing an additional 209 shares during the last quarter. Finally, Financial Counselors Inc. lifted its stake in Axalta Coating Systems by 3.3% in the 2nd quarter. Financial Counselors Inc. now owns 7,145 shares of the specialty chemicals company’s stock valued at $229,000 after purchasing an additional 225 shares during the last quarter.
Axalta Coating Systems (NASDAQ:AXTA) opened at 29.25 on Friday. The firm’s 50-day moving average is $29.32 and its 200-day moving average is $31.20. The company has a market cap of $7.11 billion and a PE ratio of 2925.00. 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 announced its earnings results on Thursday, August 3rd. The specialty chemicals company reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.08). Axalta Coating Systems had a negative return on equity of 6.61% and a negative net margin of 1.73%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the company earned $0.34 EPS. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, analysts expect that Axalta Coating Systems will post $1.30 EPS for the current fiscal year.
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.
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