Axalta Coating Systems Ltd (NYSE:AXTA) – Stock analysts at Jefferies Financial Group decreased their Q2 2019 earnings per share (EPS) estimates for shares of Axalta Coating Systems in a note issued to investors on Tuesday, June 11th. Jefferies Financial Group analyst L. Alexander now anticipates that the specialty chemicals company will post earnings of $0.36 per share for the quarter, down from their prior forecast of $0.46. Jefferies Financial Group also issued estimates for Axalta Coating Systems’ Q3 2019 earnings at $0.47 EPS.
Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings data on Wednesday, April 24th. The specialty chemicals company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.13. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Axalta Coating Systems had a return on equity of 24.42% and a net margin of 3.90%. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 EPS.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research cut Axalta Coating Systems from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. cut Axalta Coating Systems from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $30.00 to $27.00 in a research note on Friday, April 26th. Finally, BMO Capital Markets set a $32.00 price objective on Axalta Coating Systems and gave the stock a “hold” rating in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. Axalta Coating Systems currently has a consensus rating of “Hold” and a consensus price target of $30.09.
Shares of NYSE AXTA opened at $25.68 on Thursday. The company has a debt-to-equity ratio of 2.98, a current ratio of 2.21 and a quick ratio of 1.60. The firm has a market cap of $6.03 billion, a P/E ratio of 20.06, a P/E/G ratio of 1.24 and a beta of 1.30. Axalta Coating Systems has a 1-year low of $21.58 and a 1-year high of $31.59.
A number of institutional investors have recently added to or reduced their stakes in AXTA. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in shares of Axalta Coating Systems by 43.7% in the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 24,166 shares of the specialty chemicals company’s stock worth $565,000 after purchasing an additional 7,350 shares during the last quarter. Fiera Capital Corp raised its stake in shares of Axalta Coating Systems by 0.3% in the first quarter. Fiera Capital Corp now owns 1,022,160 shares of the specialty chemicals company’s stock worth $25,769,000 after purchasing an additional 3,313 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Axalta Coating Systems by 34.2% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 221,638 shares of the specialty chemicals company’s stock worth $5,587,000 after purchasing an additional 56,515 shares during the last quarter. Triad Investment Management purchased a new position in shares of Axalta Coating Systems in the fourth quarter worth about $2,335,000. Finally, Olstein Capital Management L.P. raised its stake in shares of Axalta Coating Systems by 19.3% in the fourth quarter. Olstein Capital Management L.P. now owns 265,700 shares of the specialty chemicals company’s stock worth $6,223,000 after purchasing an additional 42,901 shares during the last quarter. Institutional investors own 98.51% of the company’s stock.
In other Axalta Coating Systems news, Director Andreas Kramvis sold 55,048 shares of the stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $28.11, for a total value of $1,547,399.28. Following the completion of the sale, the director now directly owns 50,628 shares in the company, valued at $1,423,153.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Charles W. Shaver sold 309,820 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $25.52, for a total value of $7,906,606.40. Following the completion of the sale, the director now owns 440,775 shares of the company’s stock, valued at $11,248,578. The disclosure for this sale can be found here. Over the last quarter, insiders sold 864,868 shares of company stock valued at $22,074,006. 2.10% of the stock is currently owned by company insiders.
About Axalta Coating Systems
Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings systems. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers water and solvent borne products and systems that are used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.
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