Gabelli Comments on Axalta Coating Systems Ltd’s FY2020 Earnings (AXTA)

Axalta Coating Systems Ltd (NYSE:AXTA) – Equities research analysts at Gabelli reduced their FY2020 earnings per share (EPS) estimates for shares of Axalta Coating Systems in a report issued on Wednesday. Gabelli analyst C. Jolly now anticipates that the specialty chemicals company will post earnings of $1.65 per share for the year, down from their previous estimate of $1.80. Gabelli also issued estimates for Axalta Coating Systems’ FY2021 earnings at $1.75 EPS.

Several other brokerages have also issued reports on AXTA. Credit Suisse Group lifted their price target on Axalta Coating Systems from $34.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday. Zacks Investment Research upgraded Axalta Coating Systems from a “strong sell” rating to a “hold” rating in a research report on Monday, December 11th. Bank of America set a $28.00 price objective on Axalta Coating Systems and gave the stock an “underperform” rating in a research report on Tuesday, January 16th. TheStreet lowered Axalta Coating Systems from a “b-” rating to a “c+” rating in a research report on Thursday, December 28th. Finally, BidaskClub lowered Axalta Coating Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. Axalta Coating Systems has a consensus rating of “Hold” and a consensus target price of $33.53.

Shares of Axalta Coating Systems (AXTA) traded up $0.57 on Friday, hitting $30.57. The stock had a trading volume of 3,065,027 shares, compared to its average volume of 2,015,072. Axalta Coating Systems has a one year low of $27.77 and a one year high of $38.20. The company has a debt-to-equity ratio of 2.69, a quick ratio of 1.50 and a current ratio of 2.11. The company has a market cap of $7,377.98, a price-to-earnings ratio of 235.17, a price-to-earnings-growth ratio of 1.64 and a beta of 1.38.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings results on Tuesday, February 6th. The specialty chemicals company reported $0.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.05. Axalta Coating Systems had a return on equity of 20.93% and a net margin of 0.84%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the company posted ($0.16) EPS. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year.

Several large investors have recently made changes to their positions in AXTA. Bronfman E.L. Rothschild L.P. lifted its stake in shares of Axalta Coating Systems by 927.6% in the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 4,059 shares of the specialty chemicals company’s stock valued at $117,000 after purchasing an additional 3,664 shares during the period. Advisor Group Inc. raised its stake in Axalta Coating Systems by 217.3% during the 2nd quarter. Advisor Group Inc. now owns 5,603 shares of the specialty chemicals company’s stock worth $179,000 after buying an additional 3,837 shares during the period. LVW Advisors LLC acquired a new position in Axalta Coating Systems during the 3rd quarter worth approximately $214,000. Rockefeller Financial Services Inc. acquired a new position in Axalta Coating Systems during the 3rd quarter worth approximately $215,000. Finally, Prudential Financial Inc. raised its stake in Axalta Coating Systems by 24.6% during the 2nd quarter. Prudential Financial Inc. now owns 8,110 shares of the specialty chemicals company’s stock worth $260,000 after buying an additional 1,600 shares during the period. 98.43% of the stock is currently owned by institutional investors.

In other news, CEO Charles W. Shaver sold 235,810 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $30.58, for a total value of $7,211,069.80. Following the transaction, the chief executive officer now directly owns 522,752 shares of the company’s stock, valued at approximately $15,985,756.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Steven R. Markevich sold 3,125 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $30.58, for a total value of $95,562.50. Following the completion of the transaction, the executive vice president now directly owns 199,628 shares in the company, valued at $6,104,624.24. The disclosure for this sale can be found here. Insiders sold a total of 473,902 shares of company stock worth $14,498,467 over the last three months. 2.30% of the stock is owned by company insiders.

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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.

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

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