UBS AG Lowers Axalta Coating Systems Ltd (AXTA) Price Target to $37.00

Axalta Coating Systems Ltd (NASDAQ:AXTA) had its price target reduced by equities researchers at UBS AG from $39.00 to $37.00 in a research note issued to investors on Friday. The firm presently has a “buy” rating on the specialty chemicals company’s stock. UBS AG’s target price indicates a potential upside of 11.61% from the company’s current price.

A number of other research analysts have also issued reports on AXTA. Jefferies Group LLC reaffirmed a “buy” rating and set a $34.00 target price (down from $36.00) on shares of Axalta Coating Systems in a report on Wednesday, August 9th. BidaskClub lowered Axalta Coating Systems from a “sell” rating to a “strong sell” rating in a report on Friday, August 4th. Barclays PLC reiterated an “equal weight” rating and issued a $33.00 price target (down previously from $34.00) on shares of Axalta Coating Systems in a research report on Friday, August 4th. Royal Bank Of Canada reiterated a “buy” rating and issued a $34.00 price target on shares of Axalta Coating Systems in a research report on Wednesday, August 9th. Finally, Citigroup Inc. decreased their price target on Axalta Coating Systems from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Monday, August 7th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $32.00.

Axalta Coating Systems (NASDAQ:AXTA) traded up 16.97% during midday trading on Friday, hitting $33.15. 18,300,606 shares of the company traded hands. Axalta Coating Systems has a 12-month low of $24.44 and a 12-month high of $34.47. The stock has a market cap of $8.06 billion and a P/E ratio of 3315.00. The stock has a 50 day moving average of $29.16 and a 200 day moving average of $30.80.

Axalta Coating Systems (NASDAQ:AXTA) last released its earnings results on Thursday, October 26th. The specialty chemicals company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. Axalta Coating Systems had a negative return on equity of 6.61% and a negative net margin of 1.73%. Axalta Coating Systems’s revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.33 earnings per share. Equities research analysts predict that Axalta Coating Systems will post $1.13 EPS for the current fiscal year.

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In other Axalta Coating Systems news, SVP Michael A. Cash sold 34,874 shares of the firm’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $30.00, for a total transaction of $1,046,220.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Steven R. Markevich sold 900 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $29.42, for a total value of $26,478.00. Following the sale, the executive vice president now owns 201,393 shares of the company’s stock, valued at $5,924,982.06. The disclosure for this sale can be found here. Insiders have sold a total of 195,774 shares of company stock valued at $5,771,898 over the last 90 days.

A number of hedge funds and other institutional investors have recently made changes to their positions in AXTA. Comerica Bank boosted its position in Axalta Coating Systems by 8.9% during the 1st quarter. Comerica Bank now owns 8,422 shares of the specialty chemicals company’s stock worth $269,000 after acquiring an additional 687 shares during the period. Prudential Financial Inc. acquired a new stake in Axalta Coating Systems during the 1st quarter worth about $210,000. Alliancebernstein L.P. boosted its position in Axalta Coating Systems by 9.3% during the 1st quarter. Alliancebernstein L.P. now owns 122,608 shares of the specialty chemicals company’s stock worth $3,948,000 after acquiring an additional 10,416 shares during the period. Wellington Management Group LLP boosted its position in Axalta Coating Systems by 1.6% during the 1st quarter. Wellington Management Group LLP now owns 249,862 shares of the specialty chemicals company’s stock worth $8,046,000 after acquiring an additional 3,846 shares during the period. Finally, Teachers Advisors LLC boosted its position in Axalta Coating Systems by 99.9% during the 1st quarter. Teachers Advisors LLC now owns 326,040 shares of the specialty chemicals company’s stock worth $10,498,000 after acquiring an additional 162,908 shares during the period.

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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