Axalta Coating Systems (AXTA) Rating Lowered to Hold at Vertical Research

Vertical Research cut shares of Axalta Coating Systems (NYSE:AXTA) from a buy rating to a hold rating in a report published on Friday. The brokerage currently has $31.00 price target on the specialty chemicals company’s stock.

Other analysts also recently issued research reports about the company. Citigroup dropped their price objective on Axalta Coating Systems from $33.00 to $31.00 and set a buy rating on the stock in a research note on Monday, August 7th. BidaskClub downgraded Axalta Coating Systems from a sell rating to a strong sell rating in a research note on Friday, August 4th. Instinet reaffirmed a neutral rating and set a $28.00 price objective (down previously from $30.00) on shares of Axalta Coating Systems in a research note on Friday, October 13th. Robert W. Baird reaffirmed a buy rating and set a $35.00 price objective on shares of Axalta Coating Systems in a research note on Monday, October 30th. Finally, Royal Bank Of Canada reaffirmed a buy rating and set a $34.00 price objective on shares of Axalta Coating Systems in a research note on Wednesday, August 9th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $33.73.

Axalta Coating Systems (NYSE AXTA) opened at $32.33 on Friday. The company has a debt-to-equity ratio of 2.69, a current ratio of 2.11 and a quick ratio of 1.50. The firm has a market capitalization of $7,559.85, a price-to-earnings ratio of 27.95, a PEG ratio of 1.94 and a beta of 1.55. Axalta Coating Systems has a 12 month low of $25.20 and a 12 month high of $38.20.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings data on Thursday, October 26th. The specialty chemicals company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.03. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. Axalta Coating Systems had a return on equity of 19.91% and a net margin of 1.46%. The firm’s revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.33 EPS. sell-side analysts forecast that Axalta Coating Systems will post 1.15 earnings per share for the current year.

In other 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 value of $1,046,220.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Steven R. Markevich sold 900 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $29.42, for a total value of $26,478.00. Following the completion of the transaction, the executive vice president now owns 201,393 shares of the company’s stock, valued at approximately $5,924,982.06. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. bought a new position in shares of Axalta Coating Systems in the 2nd quarter valued at about $108,000. Bronfman E.L. Rothschild L.P. grew its holdings in Axalta Coating Systems by 927.6% during the third quarter. Bronfman E.L. Rothschild L.P. now owns 4,059 shares of the specialty chemicals company’s stock worth $117,000 after purchasing an additional 3,664 shares during the period. Chicago Partners Investment Group LLC bought a new position in Axalta Coating Systems during the second quarter worth about $127,000. Commonwealth Bank of Australia grew its holdings in Axalta Coating Systems by 18.1% during the second quarter. Commonwealth Bank of Australia now owns 4,581 shares of the specialty chemicals company’s stock worth $146,000 after purchasing an additional 703 shares during the period. Finally, Acrospire Investment Management LLC grew its holdings in Axalta Coating Systems by 257.0% during the second quarter. Acrospire Investment Management LLC now owns 4,862 shares of the specialty chemicals company’s stock worth $156,000 after purchasing an additional 3,500 shares during the period. Institutional investors own 99.28% of the company’s stock.

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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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