Axalta Coating Systems Ltd (NASDAQ:AXTA) – Investment analysts at Gabelli dropped their FY2018 earnings per share estimates for shares of Axalta Coating Systems in a report issued on Tuesday. Gabelli analyst C. Jolly now forecasts that the specialty chemicals company will post earnings per share of $1.40 for the year, down from their previous estimate of $1.60. Gabelli also issued estimates for Axalta Coating Systems’ FY2019 earnings at $1.60 EPS and FY2021 earnings at $2.10 EPS.

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). The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate 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 company’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 EPS.

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AXTA has been the subject of a number of other research reports. BidaskClub lowered Axalta Coating Systems from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Jefferies Group LLC reiterated a “buy” rating on shares of Axalta Coating Systems in a research note on Thursday, July 6th. Citigroup Inc. lowered Axalta Coating Systems from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $31.00 to $25.00 in a research note on Tuesday. Royal Bank Of Canada reiterated a “buy” rating and set a $36.00 price objective on shares of Axalta Coating Systems in a research note on Thursday, July 6th. Finally, Bank of America Corporation lowered Axalta Coating Systems from a “buy” rating to an “underperform” rating and cut their price target for the company from $36.00 to $30.00 in a research note on Wednesday, June 21st. Four 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 stock. The stock presently has an average rating of “Hold” and a consensus price target of $32.23.

Shares of Axalta Coating Systems (NASDAQ:AXTA) traded down 1.02% on Thursday, reaching $28.28. The company’s stock had a trading volume of 1,528,709 shares. The stock has a market cap of $6.88 billion and a P/E ratio of 2828.00. The firm’s 50-day moving average price is $29.20 and its 200-day moving average price is $31.01. Axalta Coating Systems has a 12 month low of $24.27 and a 12 month high of $34.10.

In other news, EVP Steven R. Markevich sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $29.42, for a total transaction of $26,478.00. Following the transaction, the executive vice president now directly owns 201,393 shares in the company, valued at approximately $5,924,982.06. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Samuel L. Smolik bought 4,000 shares of the stock in a transaction dated Monday, August 7th. The shares were bought at an average price of $28.16 per share, for a total transaction of $112,640.00. Following the completion of the acquisition, the director now owns 4,000 shares in the company, valued at $112,640. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 195,774 shares of company stock worth $5,771,898.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Aristotle Capital Management LLC raised its position in Axalta Coating Systems by 0.3% in the first 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 period. HighTower Advisors LLC raised its position in Axalta Coating Systems by 1.4% in the first 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 period. Financial Counselors Inc. raised its position in Axalta Coating Systems by 3.3% in the second 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 period. RiverPoint Capital Management LLC raised its position 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 valued at $415,000 after purchasing an additional 245 shares during the period. Finally, Investment Counselors of Maryland LLC raised its position in Axalta Coating Systems by 0.7% in the second quarter. Investment Counselors of Maryland LLC now owns 51,401 shares of the specialty chemicals company’s stock valued at $1,647,000 after purchasing an additional 375 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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