Axalta Coating Systems Ltd (NASDAQ:AXTA) – Investment analysts at Seaport Global Securities cut their FY2017 earnings per share estimates for shares of Axalta Coating Systems in a research note issued on Monday. Seaport Global Securities analyst M. Harrison now anticipates that the specialty chemicals company will post earnings of $1.08 per share for the year, down from their prior estimate of $1.26. Seaport Global Securities also issued estimates for Axalta Coating Systems’ Q4 2017 earnings at $0.30 EPS, Q1 2018 earnings at $0.26 EPS, Q2 2018 earnings at $0.37 EPS, Q3 2018 earnings at $0.35 EPS, Q4 2018 earnings at $0.38 EPS and FY2018 earnings at $1.35 EPS.

Other equities analysts also recently issued reports about the stock. Royal Bank Of Canada reaffirmed a “buy” rating and set a $37.00 price objective on shares of Axalta Coating Systems in a research note on Friday, July 14th. Jefferies Group LLC reissued a “buy” rating on shares of Axalta Coating Systems in a research note on Thursday, July 6th. BidaskClub raised shares of Axalta Coating Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Citigroup Inc. decreased their price target on shares of Axalta Coating Systems from $33.00 to $31.00 and set a “buy” rating for the company in a research note on Monday, August 7th. Finally, Nomura raised shares of Axalta Coating Systems to a “buy” rating and decreased their price target for the stock from $30.00 to $28.00 in a research note on Tuesday. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $32.23.

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Shares of Axalta Coating Systems (AXTA) opened at 28.76 on Wednesday. Axalta Coating Systems has a 52 week low of $24.27 and a 52 week 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. The firm has a market capitalization of $6.99 billion and a P/E ratio of 2876.00.

Axalta Coating Systems (NASDAQ:AXTA) last issued its earnings results 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). The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.12 billion. Axalta Coating Systems had a negative net margin of 1.73% and a negative return on equity of 6.61%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 earnings per share.

In other Axalta Coating Systems news, EVP Steven R. Markevich sold 900 shares of the company’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $29.42, for a total value of $26,478.00. Following the sale, the executive vice president now owns 201,393 shares in the company, valued at $5,924,982.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Michael A. Cash sold 34,874 shares of the company’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $30.00, for a total transaction of $1,046,220.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 195,774 shares of company stock worth $5,771,898.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its holdings 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 purchasing an additional 18,280,429 shares during the period. Vanguard Group Inc. grew its holdings in Axalta Coating Systems by 3.8% in the second quarter. Vanguard Group Inc. now owns 18,161,002 shares of the specialty chemicals company’s stock worth $581,878,000 after purchasing an additional 660,223 shares during the period. Davis Selected Advisers grew its holdings in Axalta Coating Systems by 7.9% in the second quarter. Davis Selected Advisers now owns 7,228,390 shares of the specialty chemicals company’s stock worth $231,598,000 after purchasing an additional 528,794 shares during the period. Timucuan Asset Management Inc. FL grew its holdings in Axalta Coating Systems by 1.0% in the second quarter. Timucuan Asset Management Inc. FL now owns 3,743,877 shares of the specialty chemicals company’s stock worth $119,954,000 after purchasing an additional 36,234 shares during the period. Finally, State Street Corp grew its holdings in Axalta Coating Systems by 11.2% in the second quarter. State Street Corp now owns 3,642,670 shares of the specialty chemicals company’s stock worth $116,710,000 after purchasing an additional 365,915 shares during the period.

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.

Earnings History and Estimates for Axalta Coating Systems (NASDAQ:AXTA)

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