Robert W. Baird restated their buy rating on shares of Axalta Coating Systems Ltd (NASDAQ:AXTA) in a report issued on Monday. They currently have a $35.00 price target on the specialty chemicals company’s stock.
Several other research analysts also recently weighed in on AXTA. Royal Bank Of Canada reiterated a buy rating and issued a $36.00 price target on shares of Axalta Coating Systems in a research report on Thursday, July 6th. Jefferies Group LLC reiterated a buy rating on shares of Axalta Coating Systems in a research report on Thursday, July 6th. Susquehanna Bancshares Inc initiated coverage on shares of Axalta Coating Systems in a research report on Tuesday, July 18th. They issued a neutral rating and a $37.00 price target on the stock. BidaskClub downgraded shares of Axalta Coating Systems from a hold rating to a sell rating in a research report on Thursday, July 27th. Finally, Barclays PLC reiterated an equal weight rating and issued a $33.00 price target (down from $34.00) on shares of Axalta Coating Systems in a research report on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $33.60.
Axalta Coating Systems (AXTA) traded up 1.773% during midday trading on Monday, hitting $33.005. 3,483,409 shares of the company were exchanged. The stock has a 50 day moving average of $29.27 and a 200-day moving average of $30.80. Axalta Coating Systems has a 1-year low of $24.44 and a 1-year high of $34.47. The stock has a market capitalization of $8.03 billion and a price-to-earnings ratio of 3300.500.
Axalta Coating Systems (NASDAQ:AXTA) last issued its earnings results on Thursday, October 26th. The specialty chemicals company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.03. Axalta Coating Systems had a negative net margin of 1.73% and a negative return on equity of 6.61%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter last year, the company posted $0.33 earnings per share. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. Equities analysts expect that Axalta Coating Systems will post $1.14 earnings per share for the current year.
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In other Axalta Coating Systems news, SVP Michael A. Cash sold 34,874 shares of Axalta Coating Systems stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $30.00, for a total value of $1,046,220.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Steven R. Markevich sold 900 shares of Axalta Coating Systems stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $29.42, for a total transaction of $26,478.00. Following the completion of the sale, the executive vice president now owns 201,393 shares in the company, valued at $5,924,982.06. The disclosure for this sale can be found here. Over the last quarter, insiders sold 195,774 shares of company stock worth $5,771,898.
A number of hedge funds and other institutional investors have recently made changes to their positions in AXTA. Bessemer Group Inc. increased its holdings in Axalta Coating Systems by 554,273.3% in the 2nd quarter. Bessemer Group Inc. now owns 2,760,779 shares of the specialty chemicals company’s stock valued at $88,456,000 after acquiring an additional 2,760,281 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Axalta Coating Systems by 8,917.7% in the 2nd quarter. Janus Henderson Group PLC now owns 2,210,694 shares of the specialty chemicals company’s stock worth $70,831,000 after buying an additional 2,186,179 shares in the last quarter. Voya Investment Management LLC grew its stake in shares of Axalta Coating Systems by 2,384.0% in the 2nd quarter. Voya Investment Management LLC now owns 1,643,485 shares of the specialty chemicals company’s stock worth $52,657,000 after buying an additional 1,577,323 shares in the last quarter. Gruss Capital Management LP purchased a new position in shares of Axalta Coating Systems in the 2nd quarter worth $31,079,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of Axalta Coating Systems by 62.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,347,838 shares of the specialty chemicals company’s stock worth $75,225,000 after buying an additional 898,678 shares in 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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