Berenberg Bank Begins Coverage on Axalta Coating Systems (NYSE:AXTA)

Berenberg Bank began coverage on shares of Axalta Coating Systems (NYSE:AXTA) in a research report issued on Friday, The Fly reports. The firm set a “buy” rating on the specialty chemicals company’s stock.

Several other equities analysts also recently weighed in on AXTA. Maxim Group reiterated a “hold” rating on shares of Castle Brands in a research report on Wednesday, June 19th. BMO Capital Markets boosted their price objective on Axalta Coating Systems to $34.00 and gave the company a “market perform” rating in a research report on Friday, June 21st. Zacks Investment Research upgraded Green Brick Partners from a “sell” rating to a “hold” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. restated a “hold” rating and issued a $137.00 price objective on shares of Continental in a research report on Friday, April 26th. Finally, KeyCorp restated an “overweight” rating and issued a $136.00 price objective (up from $127.00) on shares of Coupa Software in a research report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Axalta Coating Systems presently has a consensus rating of “Hold” and an average target price of $30.64.

NYSE AXTA opened at $29.38 on Friday. The stock has a market capitalization of $6.90 billion, a P/E ratio of 22.95, a PEG ratio of 1.38 and a beta of 1.46. The company has a quick ratio of 1.60, a current ratio of 2.21 and a debt-to-equity ratio of 2.98. The firm’s fifty day moving average is $27.29. Axalta Coating Systems has a fifty-two week low of $21.58 and a fifty-two week high of $30.93.

Axalta Coating Systems (NYSE:AXTA) last released its earnings results on Wednesday, April 24th. The specialty chemicals company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.13. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.15 billion. Axalta Coating Systems had a return on equity of 24.42% and a net margin of 3.90%. Axalta Coating Systems’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.27 earnings per share. Sell-side analysts anticipate that Axalta Coating Systems will post 1.74 earnings per share for the current fiscal year.

In other Axalta Coating Systems news, Director Charles W. Shaver sold 500,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $25.24, for a total transaction of $12,620,000.00. Following the sale, the director now directly owns 492,369 shares of the company’s stock, valued at $12,427,393.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andreas Kramvis sold 55,048 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 50,628 shares in the company, valued at $1,423,153.08. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of AXTA. Millennium Management LLC increased its stake in Axalta Coating Systems by 139.8% during the fourth quarter. Millennium Management LLC now owns 5,188,939 shares of the specialty chemicals company’s stock worth $121,525,000 after acquiring an additional 3,025,348 shares during the last quarter. Norges Bank purchased a new position in shares of Axalta Coating Systems during the fourth quarter valued at approximately $37,547,000. CI Investments Inc. boosted its position in shares of Axalta Coating Systems by 63.6% during the fourth quarter. CI Investments Inc. now owns 2,049,400 shares of the specialty chemicals company’s stock valued at $47,997,000 after buying an additional 796,400 shares during the period. Marshall Wace North America L.P. boosted its position in shares of Axalta Coating Systems by 1,340.2% during the first quarter. Marshall Wace North America L.P. now owns 758,712 shares of the specialty chemicals company’s stock valued at $19,127,000 after buying an additional 706,032 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Axalta Coating Systems by 1,502.3% during the first quarter. BNP Paribas Arbitrage SA now owns 600,166 shares of the specialty chemicals company’s stock valued at $15,130,000 after buying an additional 562,709 shares during the period. 98.47% of the stock is currently owned by institutional investors.

Axalta Coating Systems Company Profile

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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