Axalta Coating Systems (NYSE:AXTA) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Axalta Coating Systems (NYSE:AXTA) from a hold rating to a sell rating in a research report released on Tuesday, January 9th.

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. “

AXTA has been the topic of a number of other research reports. KeyCorp restated an overweight rating and issued a $40.00 target price (up previously from $36.00) on shares of Axalta Coating Systems in a report on Tuesday, November 28th. TheStreet upgraded Axalta Coating Systems from a c rating to a b- rating in a report on Wednesday, November 15th. Robert W. Baird reiterated a buy rating and set a $35.00 price target on shares of Axalta Coating Systems in a report on Monday, October 30th. Citigroup upgraded Axalta Coating Systems from a sell rating to a hold rating and set a $34.00 price target on the stock in a report on Monday, October 30th. Finally, Royal Bank of Canada reissued a buy rating and issued a $37.00 target price on shares of Axalta Coating Systems in a research report on Monday, October 30th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. Axalta Coating Systems currently has an average rating of Hold and an average price target of $33.60.

Shares of Axalta Coating Systems (AXTA) opened at $31.08 on Tuesday. The company has a current ratio of 2.11, a quick ratio of 1.50 and a debt-to-equity ratio of 2.69. The firm has a market capitalization of $7,664.61, a price-to-earnings ratio of 129.51, a P/E/G ratio of 1.66 and a beta of 1.55. Axalta Coating Systems has a 1 year low of $27.77 and a 1 year high of $38.20.

Axalta Coating Systems (NYSE:AXTA) last posted its earnings results on Thursday, October 26th. The specialty chemicals company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.23 by $0.03. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. Axalta Coating Systems had a return on equity of 19.91% and a net margin of 1.46%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the company earned $0.33 earnings per share. analysts predict that Axalta Coating Systems will post 1.15 earnings per share for the current year.

In related news, SVP Michael F. Finn sold 3,950 shares of the business’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $32.66, for a total transaction of $129,007.00. Following the transaction, the senior vice president now owns 108,818 shares in the company, valued at approximately $3,553,995.88. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.30% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Artisan Partners Limited Partnership purchased a new stake in shares of Axalta Coating Systems in the 3rd quarter worth approximately $94,884,000. Janus Henderson Group PLC grew its stake in shares of Axalta Coating Systems by 8,917.7% in the 2nd quarter. Janus Henderson Group PLC now owns 2,210,694 shares of the specialty chemicals company’s stock worth $70,831,000 after buying an additional 2,186,179 shares during the last quarter. Davis Selected Advisers grew its stake in shares of Axalta Coating Systems by 30.1% in the 3rd quarter. Davis Selected Advisers now owns 9,402,305 shares of the specialty chemicals company’s stock worth $271,921,000 after buying an additional 2,173,915 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of Axalta Coating Systems by 2,384.0% in the 2nd quarter. Voya Investment Management LLC now owns 1,643,485 shares of the specialty chemicals company’s stock worth $52,657,000 after buying an additional 1,577,323 shares during the last quarter. Finally, Confluence Investment Management LLC grew its stake in shares of Axalta Coating Systems by 146.1% in the 4th quarter. Confluence Investment Management LLC now owns 2,294,824 shares of the specialty chemicals company’s stock worth $74,261,000 after buying an additional 1,362,163 shares during the last quarter. Hedge funds and other institutional investors own 99.79% of the company’s stock.

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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.

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