Axalta Coating Systems (AXTA) Upgraded by Zacks Investment Research to Hold

Axalta Coating Systems (NYSE:AXTA) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “Axalta Coating Systems Ltd. is a global coatings company engaged in the manufacturing, marketing and distribution of coatings systems. The company offers waterborne and solvent borne coatings; liquid and powder coatings; and liquid coatings. It provides a range of performance and transportation coatings for manufacturers of light and commercial vehicles, the refinish aftermarket and for many industrial applications. The Company’s products and services include paint, color matching tools, application technologies and customer training, support and business management systems. Axalta Coating Systems Ltd. is headquartered in Philadelphia, Pennsylvania. “

Several other research firms have also commented on AXTA. ValuEngine lowered shares of Axalta Coating Systems from a “hold” rating to a “sell” rating in a report on Friday, November 16th. Bank of America raised shares of Axalta Coating Systems from a “neutral” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Tuesday, January 8th. BMO Capital Markets lowered their price target on shares of Axalta Coating Systems from $34.00 to $28.00 and set a “hold” rating on the stock in a report on Friday, October 26th. Seaport Global Securities raised shares of Axalta Coating Systems from a “neutral” rating to a “buy” rating and set a $31.00 price target on the stock in a report on Monday, October 29th. Finally, UBS Group set a $32.00 price target on shares of Axalta Coating Systems and gave the company a “buy” rating in a report on Thursday, December 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $30.30.

Shares of AXTA traded up $0.16 during trading hours on Wednesday, reaching $26.92. 1,933,793 shares of the company traded hands, compared to its average volume of 1,963,006. The firm has a market capitalization of $6.39 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 1.53 and a beta of 1.25. The company has a debt-to-equity ratio of 2.86, a current ratio of 2.23 and a quick ratio of 1.63. Axalta Coating Systems has a 12-month low of $21.58 and a 12-month high of $33.30.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings data on Wednesday, January 30th. The specialty chemicals company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.18 billion. Axalta Coating Systems had a net margin of 4.42% and a return on equity of 21.75%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.26) earnings per share. As a group, research analysts anticipate that Axalta Coating Systems will post 1.34 EPS for the current fiscal year.

In other Axalta Coating Systems news, EVP Steven R. Markevich sold 5,177 shares of the company’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $25.82, for a total value of $133,670.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles W. Shaver sold 71,897 shares of the company’s stock in a transaction dated Wednesday, January 9th. The stock was sold at an average price of $25.02, for a total transaction of $1,798,862.94. Following the completion of the transaction, the director now owns 442,419 shares of the company’s stock, valued at approximately $11,069,323.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 462,549 shares of company stock worth $11,688,510. 2.10% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. We Are One Seven LLC acquired a new position in shares of Axalta Coating Systems in the fourth quarter worth about $40,000. Covington Capital Management acquired a new position in shares of Axalta Coating Systems during the 4th quarter worth about $68,000. ETF Managers Group LLC raised its position in shares of Axalta Coating Systems by 15.8% during the 4th quarter. ETF Managers Group LLC now owns 4,318 shares of the specialty chemicals company’s stock worth $101,000 after purchasing an additional 588 shares during the last quarter. Ffcm LLC raised its position in shares of Axalta Coating Systems by 186.1% during the 4th quarter. Ffcm LLC now owns 4,532 shares of the specialty chemicals company’s stock worth $106,000 after purchasing an additional 2,948 shares during the last quarter. Finally, Berman Capital Advisors LLC acquired a new position in shares of Axalta Coating Systems during the 4th quarter worth about $135,000.

Axalta Coating Systems Company Profile

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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