Axalta Coating Systems Ltd (AXTA) Given New $37.00 Price Target at UBS AG

Axalta Coating Systems Ltd (NASDAQ:AXTA) had its price target cut by investment analysts at UBS AG from $39.00 to $37.00 in a research report issued to clients and investors on Friday, October 27th, www.benzinga.com reports. The brokerage presently has a “buy” rating on the specialty chemicals company’s stock. UBS AG’s target price points to a potential upside of 15.70% from the stock’s previous close.

Several other equities analysts have also recently commented on AXTA. BidaskClub cut Axalta Coating Systems from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 17th. Royal Bank Of Canada reiterated a “buy” rating and set a $37.00 target price on shares of Axalta Coating Systems in a research note on Friday, July 14th. Citigroup Inc. cut Axalta Coating Systems from a “neutral” rating to a “sell” rating and reduced their target price for the company from $31.00 to $25.00 in a research note on Tuesday, October 10th. Nomura upgraded Axalta Coating Systems to a “buy” rating and reduced their target price for the company from $30.00 to $28.00 in a research note on Tuesday, October 10th. Finally, KeyCorp restated a “buy” rating and set a $36.00 price objective on shares of Axalta Coating Systems in a research note on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Axalta Coating Systems currently has a consensus rating of “Hold” and a consensus price target of $33.87.

Axalta Coating Systems (NASDAQ:AXTA) opened at $31.98 on Friday. Axalta Coating Systems has a 1-year low of $24.72 and a 1-year high of $34.47.

Axalta Coating Systems (NASDAQ:AXTA) last posted its earnings results on Thursday, October 26th. The specialty chemicals company reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.03. Axalta Coating Systems had a negative net margin of 1.73% and a negative return on equity of 6.61%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the company earned $0.33 EPS. The company’s revenue was up 6.8% on a year-over-year basis.

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In other Axalta Coating Systems news, EVP Steven R. Markevich sold 160,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $29.37, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael A. Cash sold 34,874 shares of Axalta Coating Systems stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $30.00, for a total value of $1,046,220.00. The disclosure for this sale can be found here. Insiders have sold 195,774 shares of company stock worth $5,771,898 over the last three months.

Several hedge funds have recently modified their holdings of the stock. 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 acquiring an additional 660,223 shares in the last quarter. Diamond Hill Capital Management Inc. raised its stake in shares of Axalta Coating Systems by 3.1% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 10,292,166 shares of the specialty chemicals company’s stock valued at $297,649,000 after acquiring an additional 308,016 shares in the last quarter. 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 acquiring an additional 528,794 shares in the last quarter. 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 acquiring an additional 36,234 shares in the last quarter. 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 acquiring an additional 365,915 shares in the last quarter.

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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