Axalta Coating Systems Ltd (AXTA) Upgraded to “Sell” by BidaskClub

BidaskClub upgraded shares of Axalta Coating Systems Ltd (NASDAQ:AXTA) from a strong sell rating to a sell rating in a research report report published on Friday.

Several other research analysts have also issued reports on the company. Bank of America Corporation lowered Axalta Coating Systems from a buy rating to an underperform rating and reduced their price target for the stock from $36.00 to $30.00 in a research report on Wednesday, June 21st. Royal Bank Of Canada reiterated a buy rating and set a $37.00 target price on shares of Axalta Coating Systems in a report on Friday, July 14th. Jefferies Group LLC reiterated a buy rating on shares of Axalta Coating Systems in a report on Thursday, July 6th. Susquehanna Bancshares Inc assumed coverage on Axalta Coating Systems in a report on Tuesday, July 18th. They set a neutral rating and a $37.00 target price on the stock. Finally, Zacks Investment Research lowered Axalta Coating Systems from a buy rating to a sell rating in a report on Monday, August 7th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $33.08.

Shares of Axalta Coating Systems (AXTA) opened at 29.68 on Friday. Axalta Coating Systems has a one year low of $24.27 and a one year high of $34.10. The stock’s 50 day moving average price is $29.24 and its 200 day moving average price is $31.05. The stock has a market capitalization of $7.22 billion and a P/E ratio of 2968.00.

Axalta Coating Systems (NASDAQ:AXTA) last posted its quarterly earnings results on Thursday, August 3rd. The specialty chemicals company reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.08). Axalta Coating Systems had a negative return on equity of 6.61% and a negative net margin of 1.73%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the business earned $0.34 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, analysts forecast that Axalta Coating Systems will post $1.30 EPS for the current year.

WARNING: “Axalta Coating Systems Ltd (AXTA) Upgraded to “Sell” by BidaskClub” was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this report on another publication, it was illegally stolen and republished in violation of United States & international copyright law. The correct version of this report can be accessed at https://ledgergazette.com/2017/10/10/axalta-coating-systems-ltd-axta-upgraded-to-sell-by-bidaskclub.html.

In other Axalta Coating Systems news, SVP Michael A. Cash sold 34,874 shares of Axalta Coating Systems 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Steven R. Markevich sold 160,000 shares of Axalta Coating Systems stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $29.37, for a total value of $4,699,200.00. Following the completion of the sale, the executive vice president now directly owns 280,377 shares in the company, valued at approximately $8,234,672.49. The disclosure for this sale can be found here. Insiders sold a total of 200,774 shares of company stock worth $5,936,898 in the last three months.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in shares of Axalta Coating Systems by 6,436.4% in the 1st quarter. BlackRock Inc. now owns 18,564,446 shares of the specialty chemicals company’s stock valued at $597,775,000 after purchasing an additional 18,280,429 shares during the period. Vanguard Group Inc. raised its stake in shares of Axalta Coating Systems by 3.8% in the 2nd quarter. Vanguard Group Inc. now owns 18,161,002 shares of the specialty chemicals company’s stock valued at $581,878,000 after purchasing an additional 660,223 shares during the period. Davis Selected Advisers raised its stake in shares of Axalta Coating Systems by 7.9% in the 2nd quarter. Davis Selected Advisers now owns 7,228,390 shares of the specialty chemicals company’s stock valued at $231,598,000 after purchasing an additional 528,794 shares during the period. Timucuan Asset Management Inc. FL raised its stake in shares of Axalta Coating Systems by 1.0% in the 2nd quarter. Timucuan Asset Management Inc. FL now owns 3,743,877 shares of the specialty chemicals company’s stock valued at $119,954,000 after purchasing an additional 36,234 shares during the period. Finally, State Street Corp raised it

Several other research analysts have also issued reports on the company. Bank of America Corporation lowered Axalta Coating Systems from a buy rating to an underperform rating and reduced their price target for the stock from $36.00 to $30.00 in a research report on Wednesday, June 21st. Royal Bank Of Canada reiterated a buy rating and set a $37.00 target price on shares of Axalta Coating Systems in a report on Friday, July 14th. Jefferies Group LLC reiterated a buy rating on shares of Axalta Coating Systems in a report on Thursday, July 6th. Susquehanna Bancshares Inc assumed coverage on Axalta Coating Systems in a report on Tuesday, July 18th. They set a neutral rating and a $37.00 target price on the stock. Finally, Zacks Investment Research lowered Axalta Coating Systems from a buy rating to a sell rating in a report on Monday, August 7th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $33.08.

Shares of Axalta Coating Systems (AXTA) opened at 29.68 on Friday. Axalta Coating Systems has a one year low of $24.27 and a one year high of $34.10. The stock’s 50 day moving average price is $29.24 and its 200 day moving average price is $31.05. The stock has a market capitalization of $7.22 billion and a P/E ratio of 2968.00.

Axalta Coating Systems (NASDAQ:AXTA) last posted its quarterly earnings results on Thursday, August 3rd. The specialty chemicals company reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.08). Axalta Coating Systems had a negative return on equity of 6.61% and a negative net margin of 1.73%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the business earned $0.34 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, analysts forecast that Axalta Coating Systems will post $1.30 EPS for the current year.

WARNING: “Axalta Coating Systems Ltd (AXTA) Upgraded to “Sell” by BidaskClub” was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this report on another publication, it was illegally stolen and republished in violation of United States & international copyright law. The correct version of this report can be accessed at https://ledgergazette.com/2017/10/10/axalta-coating-systems-ltd-axta-upgraded-to-sell-by-bidaskclub.html.

In other Axalta Coating Systems news, SVP Michael A. Cash sold 34,874 shares of Axalta Coating Systems 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Steven R. Markevich sold 160,000 shares of Axalta Coating Systems stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $29.37, for a total value of $4,699,200.00. Following the completion of the sale, the executive vice president now directly owns 280,377 shares in the company, valued at approximately $8,234,672.49. The disclosure for this sale can be found here. Insiders sold a total of 200,774 shares of company stock worth $5,936,898 in the last three months.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in shares of Axalta Coating Systems by 6,436.4% in the 1st quarter. BlackRock Inc. now owns 18,564,446 shares of the specialty chemicals company’s stock valued at $597,775,000 after purchasing an additional 18,280,429 shares during the period. Vanguard Group Inc. raised its stake in shares of Axalta Coating Systems by 3.8% in the 2nd quarter. Vanguard Group Inc. now owns 18,161,002 shares of the specialty chemicals company’s stock valued at $581,878,000 after purchasing an additional 660,223 shares during the period. Davis Selected Advisers raised its stake in shares of Axalta Coating Systems by 7.9% in the 2nd quarter. Davis Selected Advisers now owns 7,228,390 shares of the specialty chemicals company’s stock valued at $231,598,000 after purchasing an additional 528,794 shares during the period. Timucuan Asset Management Inc. FL raised its stake in shares of Axalta Coating Systems by 1.0% in the 2nd quarter. Timucuan Asset Management Inc. FL now owns 3,743,877 shares of the specialty chemicals company’s stock valued at $119,954,000 after purchasing an additional 36,234 shares during the period. Finally, State Street Corp raised its stake in shares of Axalta Coating Systems by 11.2% in the 2nd quarter. State Street Corp now owns 3,642,670 shares of the specialty chemicals company’s stock valued at $116,710,000 after purchasing an additional 365,915 shares during the period.

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.

Analyst Recommendations for Axalta Coating Systems (NASDAQ:AXTA)

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