Analysts at Raymond James Financial assumed coverage on shares of Axalta Coating Systems (NYSE:AXTA) in a report released on Tuesday, Marketbeat.com reports. The firm set a “market perform” rating on the specialty chemicals company’s stock.
Several other equities research analysts have also commented on AXTA. Royal Bank of Canada reduced their price target on shares of Axalta Coating Systems from $34.00 to $33.00 and set an “outperform” rating for the company in a report on Wednesday, September 27th. BidaskClub raised shares of Axalta Coating Systems from a “strong sell” rating to a “sell” rating in a research report on Friday, October 6th. Citigroup downgraded shares of Axalta Coating Systems from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $31.00 to $25.00 in a research report on Tuesday, October 10th. Nomura raised shares of Axalta Coating Systems to a “buy” rating and cut their price objective for the stock from $30.00 to $28.00 in a research report on Tuesday, October 10th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Axalta Coating Systems in a research report on Thursday, October 12th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. Axalta Coating Systems presently has a consensus rating of “Hold” and a consensus target price of $33.73.
Axalta Coating Systems (NYSE AXTA) traded down $0.16 during trading hours on Tuesday, hitting $31.39. 1,633,200 shares of the stock traded hands, compared to its average volume of 2,377,799. Axalta Coating Systems has a twelve month low of $26.82 and a twelve month 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 $7,552.54, a price-to-earnings ratio of 27.93, a P/E/G ratio of 1.94 and a beta of 1.55.
In other Axalta Coating Systems news, SVP Michael F. Finn sold 3,950 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $32.66, for a total transaction of $129,007.00. Following the sale, the senior vice president now owns 108,818 shares of the company’s stock, valued at approximately $3,553,995.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 sale, the executive vice president now directly owns 201,393 shares in the company, valued at approximately $5,924,982.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,724 shares of company stock worth $1,201,705. Insiders own 2.30% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in AXTA. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Axalta Coating Systems in the 2nd quarter valued at $108,000. Bronfman E.L. Rothschild L.P. boosted its holdings 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 acquiring an additional 3,664 shares during the last quarter. Commonwealth Bank of Australia boosted its holdings in shares of Axalta Coating Systems by 18.1% in the 2nd 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 during the last quarter. Acrospire Investment Management LLC boosted its holdings in shares of Axalta Coating Systems by 257.0% in the 2nd 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 during the last quarter. Finally, Advisor Group Inc. boosted its holdings in shares of Axalta Coating Systems by 217.3% in the 2nd 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 during the last quarter. 99.22% of the stock is currently owned by institutional investors.
COPYRIGHT VIOLATION WARNING: This story was originally reported by American Market News and is owned by of American Market News. If you are viewing this story on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark legislation. The correct version of this story can be viewed at https://www.americanbankingnews.com/2017/12/19/axalta-coating-systems-axta-receives-new-coverage-from-analysts-at-raymond-james-financial.html.
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.
