FY2017 Earnings Estimate for Axalta Coating Systems Ltd (AXTA) Issued By Gabelli
Axalta Coating Systems Ltd (NASDAQ:AXTA) – Analysts at Gabelli cut their FY2017 earnings per share estimates for shares of Axalta Coating Systems in a note issued to investors on Tuesday. Gabelli analyst C. Jolly now forecasts that the specialty chemicals company will post earnings of $1.25 per share for the year, down from their previous estimate of $1.40. Gabelli also issued estimates for Axalta Coating Systems’ FY2020 earnings at $1.70 EPS.
AXTA has been the subject of several other reports. BidaskClub lowered Axalta Coating Systems from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Susquehanna Bancshares Inc initiated coverage on Axalta Coating Systems in a research report on Tuesday, July 18th. They set a “neutral” rating and a $37.00 price target for the company. Barclays PLC restated an “equal weight” rating and set a $33.00 price target (down from $34.00) on shares of Axalta Coating Systems in a research report on Friday, August 4th. TheStreet lowered Axalta Coating Systems from a “b” rating to a “c” rating in a research report on Thursday, August 3rd. Finally, Jefferies Group LLC restated a “buy” rating and set a $34.00 price target (down from $36.00) on shares of Axalta Coating Systems in a research report on Wednesday, August 9th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. Axalta Coating Systems has an average rating of “Hold” and a consensus target price of $32.23.
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Axalta Coating Systems (NASDAQ AXTA) opened at 28.76 on Wednesday. The company has a market cap of $6.99 billion and a P/E ratio of 2876.00. Axalta Coating Systems has a 1-year low of $24.27 and a 1-year high of $34.10. The stock has a 50 day moving average price of $29.23 and a 200 day moving average price of $31.03.
Axalta Coating Systems (NASDAQ:AXTA) last released its earnings results on Thursday, August 3rd. The specialty chemicals company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the prior year, the company posted $0.34 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis.
In related news, EVP Steven R. Markevich sold 160,000 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $29.37, for a total value of $4,699,200.00. Following the transaction, the executive vice president now owns 280,377 shares in the company, valued at approximately $8,234,672.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Samuel L. Smolik purchased 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was bought at an average price of $28.16 per share, for a total transaction of $112,640.00. Following the transaction, the director now directly owns 4,000 shares in the company, valued at $112,640. The disclosure for this purchase can be found here. Insiders sold a total of 195,774 shares of company stock worth $5,771,898 in the last 90 days.
Institutional investors and hedge funds have recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. purchased a new stake in Axalta Coating Systems in the 2nd quarter valued at approximately $108,000. Chicago Partners Investment Group LLC purchased a new stake in Axalta Coating Systems in the 2nd quarter valued at approximately $127,000. Commonwealth Bank of Australia boosted its holdings in Axalta Coating Systems by 18.1% in the 2nd quarter. Commonwealth Bank of Australia now owns 4,581 shares of the specialty chemicals company’s stock valued at $146,000 after purchasing an additional 703 shares in the last quarter. Acrospire Investment Management LLC boosted its holdings in Axalta Coating Systems by 257.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 4,862 shares of the specialty chemicals company’s stock valued at $156,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Advisor Group Inc. boosted its holdings in Axalta Coating Systems by 217.3% in the 2nd quarter. Advisor Group Inc. now owns 5,603 shares of the specialty chemicals company’s stock valued at $179,000 after purchasing an additional 3,837 shares in the last quarter.
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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