Axalta Coating Systems Ltd (AXTA) Stock Rating Upgraded by Vertical Research
Axalta Coating Systems Ltd (NASDAQ:AXTA) was upgraded by research analysts at Vertical Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, The Fly reports.
AXTA has been the subject of several other research reports. BidaskClub lowered Axalta Coating Systems from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Nomura raised Axalta Coating Systems to a “buy” rating and cut their price objective for the stock from $30.00 to $28.00 in a report on Tuesday, October 10th. Royal Bank Of Canada cut their price objective on Axalta Coating Systems from $34.00 to $33.00 and set an “outperform” rating for the company in a report on Wednesday, September 27th. UBS AG cut their price objective on Axalta Coating Systems from $39.00 to $37.00 and set a “buy” rating for the company in a report on Friday. Finally, J P Morgan Chase & Co raised Axalta Coating Systems from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $29.00 to $31.00 in a report on Friday, August 11th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company. Axalta Coating Systems presently has an average rating of “Hold” and an average target price of $33.07.
Axalta Coating Systems (NASDAQ AXTA) opened at 32.43 on Tuesday. Axalta Coating Systems has a 12 month low of $24.44 and a 12 month high of $34.47. The stock’s 50 day moving average price is $29.27 and its 200-day moving average price is $30.80. The stock has a market cap of $7.89 billion and a PE ratio of 3243.00.
Axalta Coating Systems (NASDAQ:AXTA) last issued its quarterly earnings data on Thursday, October 26th. The specialty chemicals company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.03. 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 $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the company posted $0.33 earnings per share. Axalta Coating Systems’s revenue was up 6.8% compared to the same quarter last year. Analysts anticipate that Axalta Coating Systems will post $1.14 EPS for the current fiscal year.
In other Axalta Coating Systems news, Director Samuel L. Smolik acquired 4,000 shares of the stock in a transaction dated Monday, August 7th. The shares were acquired at an average cost of $28.16 per share, for a total transaction of $112,640.00. Following the completion of the transaction, the director now directly owns 4,000 shares of the company’s stock, valued at $112,640. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Steven R. Markevich sold 160,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $29.37, for a total value of $4,699,200.00. Following the completion of the transaction, the executive vice president now owns 280,377 shares in the company, valued at $8,234,672.49. The disclosure for this sale can be found here. Insiders have sold 195,774 shares of company stock valued at $5,771,898 in the last three months.
Several institutional investors have recently made changes to their positions in AXTA. Robeco Institutional Asset Management B.V. purchased a new position in shares of Axalta Coating Systems in the second quarter valued at about $108,000. Chicago Partners Investment Group LLC purchased a new position in shares of Axalta Coating Systems in the second quarter valued at about $127,000. Commonwealth Bank of Australia lifted its position in shares of Axalta Coating Systems by 18.1% in the second quarter. Commonwealth Bank of Australia now owns 4,581 shares of the specialty chemicals company’s stock valued at $146,000 after acquiring an additional 703 shares in the last quarter. Acrospire Investment Management LLC lifted its position in shares of Axalta Coating Systems by 257.0% in the second quarter. Acrospire Investment Management LLC now owns 4,862 shares of the specialty chemicals company’s stock valued at $156,000 after acquiring an additional 3,500 shares in the last quarter. Finally, Advisor Group Inc. lifted its position in shares of Axalta Coating Systems by 217.3% in the second quarter. Advisor Group Inc. now owns 5,603 shares of the specialty chemicals company’s stock valued at $179,000 after acquiring an additional 3,837 shares in the last quarter.
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.
Receive News & Ratings for Axalta Coating Systems Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axalta Coating Systems Ltd and related companies with MarketBeat.com's FREE daily email newsletter.