Axalta Coating Systems Ltd (AXTA) Upgraded to Buy at Nomura

Nomura upgraded shares of Axalta Coating Systems Ltd (NASDAQ:AXTA) to a buy rating in a research note published on Tuesday morning. Nomura currently has $28.00 price objective on the specialty chemicals company’s stock, down from their prior price objective of $30.00.

Other research analysts also recently issued reports about the company. BidaskClub downgraded Axalta Coating Systems from a buy rating to a hold rating in a research note on Thursday, June 29th. Citigroup Inc. reduced their target price on Axalta Coating Systems from $33.00 to $31.00 and set a buy rating for the company in a research note on Monday, August 7th. Royal Bank Of Canada reaffirmed a buy rating and set a $36.00 target price on shares of Axalta Coating Systems in a research note on Thursday, July 6th. Jefferies Group LLC reaffirmed a buy rating on shares of Axalta Coating Systems in a research note on Thursday, July 6th. Finally, Bank of America Corporation downgraded Axalta Coating Systems from a buy rating to an underperform rating and reduced their target price for the stock from $36.00 to $30.00 in a research note on Wednesday, June 21st. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $32.23.

Shares of Axalta Coating Systems (AXTA) opened at 28.76 on Tuesday. The firm’s 50-day moving average is $29.23 and its 200-day moving average is $31.03. The stock has a market capitalization of $6.99 billion and a price-to-earnings ratio of 2876.00. Axalta Coating Systems has a one year low of $24.27 and a one year high of $34.10.

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

TRADEMARK VIOLATION NOTICE: This story was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this story on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this story can be accessed at https://ledgergazette.com/2017/10/11/axalta-coating-systems-ltd-axta-upgraded-to-buy-at-nomura.html.

In related news, SVP Michael A. Cash sold 34,874 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $30.00, for a total transaction of $1,046,220.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Samuel L. Smolik bought 4,000 shares of the company’s stock in a transaction on Monday, August 7th. The stock was bought at an average price of $28.16 per share, with a total value of $112,640.00. Following the completion of the acquisition, the director now owns 4,000 shares in the company, valued at $112,640. The disclosure for this purchase can be found here. Insiders have sold 195,774 shares of company stock valued at $5,771,898 over the last quarter.

A number of large investors have recently modified their holdings of AXTA. Russell Investments Group Ltd. grew its holdings in Axalta Coating Systems by 226.4% in the 1st quarter. Russell Investments Group Ltd. now owns 37,233 shares of the specialty chemicals company’s stock valued at $1,199,000 after buying an additional 25,825 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Axalta Coating Systems by 2.4% in the 1st quarter. Bank of New York Mellon Corp now owns 745,367 shares of the specialty chemicals company’s stock valued at $24,000,000 after buying an additional 17,171 shares in the last quarter. Comerica Bank grew its holdings in Axalta Coating Systems by 8.9% in the 1st quarter. Comerica Bank now owns 8,422 shares of the specialty chemicals company’s stock valued at $269,000 after buying an additional 687 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in Axalta Coating Systems by 20.4% in the 1st quarter. UBS Asset Management Americas Inc. now owns 572,666 shares of the specialty chemicals company’s stock valued at $18,440,000 after buying an additional 96,878 shares in the la

Other research analysts also recently issued reports about the company. BidaskClub downgraded Axalta Coating Systems from a buy rating to a hold rating in a research note on Thursday, June 29th. Citigroup Inc. reduced their target price on Axalta Coating Systems from $33.00 to $31.00 and set a buy rating for the company in a research note on Monday, August 7th. Royal Bank Of Canada reaffirmed a buy rating and set a $36.00 target price on shares of Axalta Coating Systems in a research note on Thursday, July 6th. Jefferies Group LLC reaffirmed a buy rating on shares of Axalta Coating Systems in a research note on Thursday, July 6th. Finally, Bank of America Corporation downgraded Axalta Coating Systems from a buy rating to an underperform rating and reduced their target price for the stock from $36.00 to $30.00 in a research note on Wednesday, June 21st. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $32.23.

Shares of Axalta Coating Systems (AXTA) opened at 28.76 on Tuesday. The firm’s 50-day moving average is $29.23 and its 200-day moving average is $31.03. The stock has a market capitalization of $6.99 billion and a price-to-earnings ratio of 2876.00. Axalta Coating Systems has a one year low of $24.27 and a one year high of $34.10.

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

TRADEMARK VIOLATION NOTICE: This story was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this story on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this story can be accessed at https://ledgergazette.com/2017/10/11/axalta-coating-systems-ltd-axta-upgraded-to-buy-at-nomura.html.

In related news, SVP Michael A. Cash sold 34,874 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $30.00, for a total transaction of $1,046,220.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Samuel L. Smolik bought 4,000 shares of the company’s stock in a transaction on Monday, August 7th. The stock was bought at an average price of $28.16 per share, with a total value of $112,640.00. Following the completion of the acquisition, the director now owns 4,000 shares in the company, valued at $112,640. The disclosure for this purchase can be found here. Insiders have sold 195,774 shares of company stock valued at $5,771,898 over the last quarter.

A number of large investors have recently modified their holdings of AXTA. Russell Investments Group Ltd. grew its holdings in Axalta Coating Systems by 226.4% in the 1st quarter. Russell Investments Group Ltd. now owns 37,233 shares of the specialty chemicals company’s stock valued at $1,199,000 after buying an additional 25,825 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Axalta Coating Systems by 2.4% in the 1st quarter. Bank of New York Mellon Corp now owns 745,367 shares of the specialty chemicals company’s stock valued at $24,000,000 after buying an additional 17,171 shares in the last quarter. Comerica Bank grew its holdings in Axalta Coating Systems by 8.9% in the 1st quarter. Comerica Bank now owns 8,422 shares of the specialty chemicals company’s stock valued at $269,000 after buying an additional 687 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in Axalta Coating Systems by 20.4% in the 1st quarter. UBS Asset Management Americas Inc. now owns 572,666 shares of the specialty chemicals company’s stock valued at $18,440,000 after buying an additional 96,878 shares in the last quarter. Finally, Karp Capital Management Corp purchased a new stake in Axalta Coating Systems in the 1st quarter valued at $698,000.

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.

Analyst Recommendations for Axalta Coating Systems (NASDAQ:AXTA)

Receive News & Ratings for Axalta Coating Systems Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axalta Coating Systems Ltd and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply