Axalta Coating Systems (NYSE:AXTA) received a $28.00 price target from equities research analysts at Bank of America in a research report issued on Tuesday, January 16th, Marketbeat Ratings reports. The firm presently has an “underperform” rating on the specialty chemicals company’s stock. Bank of America’s price target would suggest a potential downside of 8.41% from the stock’s previous close.
Several other research analysts have also recently issued reports on the stock. Credit Suisse Group increased their target price on shares of Axalta Coating Systems from $33.00 to $37.00 and gave the stock an “outperform” rating in a report on Monday, November 6th. Zacks Investment Research cut shares of Axalta Coating Systems from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. TheStreet upgraded shares of Axalta Coating Systems from a “c” rating to a “b-” rating in a report on Wednesday, November 15th. Robert W. Baird reissued a “buy” rating and set a $35.00 price target on shares of Axalta Coating Systems in a research report on Monday, October 30th. Finally, BidaskClub lowered shares of Axalta Coating Systems from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 17th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $33.53.
Axalta Coating Systems (AXTA) traded up $0.57 during midday trading on Tuesday, hitting $30.57. 3,065,027 shares of the stock were exchanged, compared to its average volume of 1,987,225. 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 company has a market capitalization of $7,456.02, a PE ratio of 235.17, a PEG ratio of 1.65 and a beta of 1.38. Axalta Coating Systems has a 12-month low of $27.77 and a 12-month high of $38.20.
Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings results on Tuesday, February 6th. The specialty chemicals company reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.05. Axalta Coating Systems had a net margin of 0.84% and a return on equity of 20.93%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the business posted ($0.16) earnings per share. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. research analysts forecast that Axalta Coating Systems will post 1.35 earnings per share for the current year.
In other Axalta Coating Systems news, CEO Charles W. Shaver sold 235,810 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $30.58, for a total transaction of $7,211,069.80. Following the completion of the transaction, the chief executive officer now directly owns 522,752 shares of the company’s stock, valued at approximately $15,985,756.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael F. Finn sold 3,950 shares of the firm’s stock in a transaction that occurred on 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 directly owns 108,818 shares of the company’s stock, valued at $3,553,995.88. The disclosure for this sale can be found here. Insiders sold a total of 473,902 shares of company stock valued at $14,498,467 over the last ninety days. 2.30% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of AXTA. Bronfman E.L. Rothschild L.P. grew its stake in shares of Axalta Coating Systems by 927.6% during the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 4,059 shares of the specialty chemicals company’s stock worth $117,000 after purchasing an additional 3,664 shares during the period. Commonwealth Bank of Australia grew its stake in shares of Axalta Coating Systems by 18.1% during the 2nd quarter. Commonwealth Bank of Australia now owns 4,581 shares of the specialty chemicals company’s stock worth $146,000 after purchasing an additional 703 shares during the period. American International Group Inc. acquired a new stake in shares of Axalta Coating Systems during the 4th quarter worth approximately $163,000. Advisor Group Inc. grew its stake in shares of Axalta Coating Systems by 217.3% during the 2nd quarter. Advisor Group Inc. now owns 5,603 shares of the specialty chemicals company’s stock worth $179,000 after purchasing an additional 3,837 shares during the period. Finally, K2 Principal Fund L.P. acquired a new stake in shares of Axalta Coating Systems during the 2nd quarter worth approximately $202,000. 98.43% of the stock is currently owned by institutional investors and hedge funds.
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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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