Axalta Coating Systems Ltd (NASDAQ:AXTA) Earns Buy Rating from Royal Bank Of Canada

Axalta Coating Systems Ltd (NASDAQ:AXTA)‘s stock had its “buy” rating reiterated by analysts at Royal Bank Of Canada in a research note issued on Wednesday, August 9th. They currently have a $34.00 target price on the specialty chemicals company’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 16.44% from the stock’s previous close.

Several other brokerages have also recently weighed in on AXTA. Zacks Investment Research raised shares of Axalta Coating Systems from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research report on Wednesday, June 28th. UBS AG reissued a “buy” rating and set a $39.00 price target (up previously from $37.00) on shares of Axalta Coating Systems in a research report on Tuesday, June 6th. Citigroup Inc. reissued a “neutral” rating and set a $33.00 price target (up previously from $30.00) on shares of Axalta Coating Systems in a research report on Friday, April 14th. Nomura cut shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and set a $33.00 target price for the company. in a research report on Friday, April 21st. Finally, Susquehanna Bancshares Inc started coverage on shares of Axalta Coating Systems in a research report on Tuesday, July 18th. They issued a “neutral” rating and a $37.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $33.63.

Shares of Axalta Coating Systems (AXTA) traded up 0.52% during trading on Wednesday, hitting $29.20. 2,122,914 shares of the stock were exchanged. The firm has a market capitalization of $7.10 billion and a price-to-earnings ratio of 2920.00. Axalta Coating Systems has a 52 week low of $24.27 and a 52 week high of $34.10. The stock’s 50 day moving average price is $31.18 and its 200 day moving average price is $31.24.

Axalta Coating Systems (NASDAQ:AXTA) last announced its quarterly earnings results on Thursday, August 3rd. The specialty chemicals company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.08. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Axalta Coating Systems had a negative net margin of 1.73% and a negative return on equity of 6.61%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.34 EPS. On average, equities analysts predict that Axalta Coating Systems will post $1.31 earnings per share for the current year.

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In other news, SVP Joseph F. Mcdougall sold 40,000 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $32.13, for a total transaction of $1,285,200.00. Following the sale, the senior vice president now owns 142,551 shares of the company’s stock, valued at approximately $4,580,163.63. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Sean M. Lannon sold 5,000 shares of the firm’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $33.00, for a total transaction of $165,000.00. Following the sale, the vice president now directly owns 16,286 shares in the company, valued at approximately $537,438. The disclosure for this sale can be found here. Over the last quarter, insiders sold 164,500 shares of company stock valued at $5,294,085.

Several hedge funds have recently made changes to their positions in the stock. Emerald Advisers Inc. PA increased its position in Axalta Coating Systems by 40.7% in the first quarter. Emerald Advisers Inc. PA now owns 81,511 shares of the specialty chemicals company’s stock worth $2,625,000 after buying an additional 23,592 shares during the last quarter. Russell Investments Group Ltd. increased its position in Axalta Coating Systems by 226.4% in the first quarter. Russell Investments Group Ltd. now owns 37,233 shares of the specialty chemicals company’s stock worth $1,199,000 after buying an additional 25,825 shares during the last quarter. K.J. Harrison & Partners Inc increased its position in Axalta Coating Systems by 33.3% in the first quarter. K.J. Harrison & Partners Inc now owns 40,000 shares of the specialty chemicals company’s stock worth $1,288,000 after buying an additional 10,000 shares during the last quarter. AMI Investment Management Inc. increased its position in Axalta Coating Systems by 8.0% in the first quarter. AMI Investment Management Inc. now owns 41,217 shares of the specialty chemicals company’s stock worth $1,187,000 after buying an additional 3,042 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in Axalta Coating Systems by 0.9% in the first quarter. ProShare Advisors LLC now owns 16,703 shares of the specialty chemicals company’s stock worth $538,000 after buying an additional 157 shares during 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.

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