Axalta Coating Systems Ltd (AXTA) Upgraded to Buy by Vertical Research

Vertical Research upgraded shares of Axalta Coating Systems Ltd (NASDAQ:AXTA) from a hold rating to a buy rating in a report published on Tuesday. They currently have $37.00 target price on the specialty chemicals company’s stock, up from their prior target price of $29.00.

Several other brokerages have also weighed in on AXTA. Royal Bank Of Canada reaffirmed a buy rating and set a $34.00 target price on shares of Axalta Coating Systems in a research note on Wednesday, August 9th. BidaskClub raised shares of Axalta Coating Systems from a strong sell rating to a sell rating in a research note on Friday, October 6th. Susquehanna Bancshares Inc started coverage on shares of Axalta Coating Systems in a research note on Tuesday, July 18th. They set a neutral rating and a $37.00 target price for the company. Instinet reaffirmed a neutral rating and set a $28.00 target price (down previously from $30.00) on shares of Axalta Coating Systems in a research note on Friday, October 13th. Finally, Barclays PLC reaffirmed an equal weight rating and set a $33.00 target price (down previously from $34.00) on shares of Axalta Coating Systems in a research note on Friday, August 4th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. Axalta Coating Systems currently has a consensus rating of Hold and a consensus price target of $33.64.

Axalta Coating Systems (NASDAQ AXTA) traded up 1.128% during trading on Tuesday, hitting $33.625. 1,294,605 shares of the company were exchanged. The stock’s 50-day moving average is $29.39 and its 200-day moving average is $30.82. Axalta Coating Systems has a 12 month low of $24.44 and a 12 month high of $34.47. The company has a market capitalization of $8.18 billion and a price-to-earnings ratio of 3362.500.

Axalta Coating Systems (NASDAQ:AXTA) last announced its earnings results on Thursday, October 26th. The specialty chemicals company reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.03. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. Axalta Coating Systems had a negative net margin of 1.73% and a negative return on equity of 6.61%. Axalta Coating Systems’s revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 earnings per share. Equities research analysts anticipate that Axalta Coating Systems will post $1.14 earnings per share for the current year.

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In other news, SVP Michael A. Cash sold 34,874 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Samuel L. Smolik acquired 4,000 shares of the stock in a transaction dated Monday, August 7th. The stock was acquired at an average cost of $28.16 per share, with a total value of $112,640.00. Following the purchase, the director now owns 4,000 shares of the company’s stock, valued at approximately $112,640. The disclosure for this purchase can be found here. In the last three months, insiders sold 195,774 shares of company stock valued at $5,771,898.

A number of institutional investors have recently modified their holdings of AXTA. Comerica Bank lifted its stake in Axalta Coating Systems by 8.9% in the first 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 last quarter. Prudential Financial Inc. purchased a new position in Axalta Coating Systems in the first quarter worth approximately $210,000. Alliancebernstein L.P. lifted its stake in Axalta Coating Systems by 9.3% in the first 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 last quarter. Wellington Management Group LLP lifted its stake in Axalta Coating Systems by 1.6% in the first 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 last quarter. Finally, Teachers Advisors LLC lifted its stake in Axalta Coating Systems by 99.9% in the first 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 last quarter.

About Axalta Coating Systems

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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