Axalta Coating Systems Ltd (AXTA) Expected to Post Quarterly Sales of $1.15 Billion

Wall Street analysts expect Axalta Coating Systems Ltd (NYSE:AXTA) to report $1.15 billion in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Axalta Coating Systems’ earnings. The highest sales estimate is $1.17 billion and the lowest is $1.15 billion. Axalta Coating Systems reported sales of $1.17 billion in the same quarter last year, which indicates a negative year over year growth rate of 1.7%. The business is scheduled to issue its next quarterly earnings report on Wednesday, April 24th.

According to Zacks, analysts expect that Axalta Coating Systems will report full year sales of $4.75 billion for the current fiscal year, with estimates ranging from $4.71 billion to $4.79 billion. For the next fiscal year, analysts forecast that the firm will report sales of $4.91 billion, with estimates ranging from $4.83 billion to $5.01 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Axalta Coating Systems.

Axalta Coating Systems (NYSE:AXTA) last posted its earnings results on Wednesday, January 30th. The specialty chemicals company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.02. Axalta Coating Systems had a return on equity of 21.75% and a net margin of 4.42%. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period in the previous year, the company earned ($0.26) EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis.

A number of brokerages have recently commented on AXTA. Zacks Investment Research upgraded Axalta Coating Systems from a “sell” rating to a “hold” rating in a report on Monday, October 29th. Credit Suisse Group set a $34.00 price target on Axalta Coating Systems and gave the company a “buy” rating in a research note on Thursday, December 13th. KeyCorp cut their price target on Axalta Coating Systems from $36.00 to $31.00 and set an “overweight” rating on the stock in a research note on Friday, October 26th. Nomura lowered their price target on Axalta Coating Systems from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Friday, October 26th. Finally, Barclays decreased their price objective on Axalta Coating Systems from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Friday, October 26th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $30.30.

In other Axalta Coating Systems news, Director Charles W. Shaver sold 16,254 shares of Axalta Coating Systems stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $26.08, for a total value of $423,904.32. Following the completion of the sale, the director now owns 420,939 shares of the company’s stock, valued at approximately $10,978,089.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Robert W. Bryant sold 6,166 shares of the business’s stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $26.17, for a total transaction of $161,364.22. Following the sale, the chief executive officer now directly owns 176,956 shares of the company’s stock, valued at approximately $4,630,938.52. The disclosure for this sale can be found here. In the last three months, insiders sold 434,637 shares of company stock worth $10,948,005. 2.10% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in AXTA. Kepos Capital LP bought a new position in Axalta Coating Systems in the 4th quarter worth about $1,171,000. Dimensional Fund Advisors LP raised its holdings in shares of Axalta Coating Systems by 13.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,067,187 shares of the specialty chemicals company’s stock worth $48,410,000 after buying an additional 240,896 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Axalta Coating Systems by 142.3% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 165,123 shares of the specialty chemicals company’s stock worth $3,867,000 after buying an additional 96,982 shares during the last quarter. Korea Investment CORP increased its stake in shares of Axalta Coating Systems by 17.0% in the fourth quarter. Korea Investment CORP now owns 481,300 shares of the specialty chemicals company’s stock worth $11,272,000 after acquiring an additional 69,800 shares during the period. Finally, AMI Investment Management Inc. grew its position in Axalta Coating Systems by 0.5% during the fourth quarter. AMI Investment Management Inc. now owns 92,455 shares of the specialty chemicals company’s stock valued at $2,165,000 after buying an additional 450 shares during the period. Hedge funds and other institutional investors own 99.25% of the company’s stock.

Shares of AXTA stock traded down $0.09 during trading hours on Friday, reaching $26.95. 44,236 shares of the company’s stock were exchanged, compared to its average volume of 2,028,507. Axalta Coating Systems has a fifty-two week low of $21.58 and a fifty-two week high of $33.30. The firm has a market cap of $6.22 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 1.49 and a beta of 1.25. The company has a quick ratio of 1.63, a current ratio of 2.23 and a debt-to-equity ratio of 2.86.

About Axalta Coating Systems

Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings primarily for the transportation industry. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers various specially-formulated water and solvent borne products and systems that are used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.

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