Seaport Global Securities downgraded shares of Axalta Coating Systems (NYSE:AXTA) from a buy rating to a neutral rating in a report published on Tuesday morning. Seaport Global Securities also issued estimates for Axalta Coating Systems’ Q2 2018 earnings at $0.36 EPS, Q3 2018 earnings at $0.36 EPS, Q4 2018 earnings at $0.40 EPS, FY2018 earnings at $1.35 EPS, Q1 2019 earnings at $0.26 EPS, Q2 2019 earnings at $0.42 EPS, Q3 2019 earnings at $0.41 EPS, Q4 2019 earnings at $0.45 EPS and FY2019 earnings at $1.53 EPS.
A number of other research firms have also recently commented on AXTA. Credit Suisse Group upped their price objective on Axalta Coating Systems from $34.00 to $35.00 and gave the company an outperform rating in a report on Wednesday, February 7th. Bank of America set a $28.00 price objective on Axalta Coating Systems and gave the company an underperform rating in a report on Tuesday, January 16th. TheStreet cut Axalta Coating Systems from a b- rating to a c+ rating in a report on Thursday, December 28th. Zacks Investment Research cut Axalta Coating Systems from a hold rating to a strong sell rating in a research note on Tuesday, April 10th. Finally, UBS initiated coverage on Axalta Coating Systems in a research note on Tuesday, December 19th. They set a market perform rating on the stock. Three analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. Axalta Coating Systems presently has an average rating of Hold and an average price target of $33.47.
AXTA opened at $31.47 on Tuesday. Axalta Coating Systems has a one year low of $27.77 and a one year high of $38.20. The company has a market capitalization of $7,914.56, a P/E ratio of 26.45, a price-to-earnings-growth ratio of 2.06 and a beta of 1.32. The company has a debt-to-equity ratio of 2.75, a quick ratio of 1.58 and a current ratio of 2.14.
Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings data on Tuesday, February 6th. The specialty chemicals company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. Axalta Coating Systems had a return on equity of 20.91% and a net margin of 0.84%. 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 firm posted ($0.16) earnings per share. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. analysts anticipate that Axalta Coating Systems will post 1.34 EPS for the current year.
In other news, EVP Steven R. Markevich sold 82,838 shares of the company’s stock in a transaction on Monday, March 19th. The stock was sold at an average price of $30.61, for a total transaction of $2,535,671.18. Following the sale, the executive vice president now owns 323,875 shares of the company’s stock, valued at $9,913,813.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael A. Cash sold 64,898 shares of the company’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $32.59, for a total value of $2,115,025.82. Following the sale, the senior vice president now directly owns 242,056 shares in the company, valued at approximately $7,888,605.04. The disclosure for this sale can be found here. Insiders have sold 617,688 shares of company stock worth $19,020,157 over the last 90 days. 2.30% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of AXTA. American International Group Inc. purchased a new stake in shares of Axalta Coating Systems during the fourth quarter worth $163,000. Advisor Group Inc. increased its position in shares of Axalta Coating Systems by 30.9% during the fourth quarter. Advisor Group Inc. now owns 8,001 shares of the specialty chemicals company’s stock worth $258,000 after acquiring an additional 1,887 shares during the period. Rothschild Investment Corp IL purchased a new stake in shares of Axalta Coating Systems during the fourth quarter worth $265,000. BB&T Corp increased its position in shares of Axalta Coating Systems by 49.2% during the fourth quarter. BB&T Corp now owns 10,770 shares of the specialty chemicals company’s stock worth $348,000 after acquiring an additional 3,553 shares during the period. Finally, Yakira Capital Management Inc. purchased a new stake in shares of Axalta Coating Systems during the fourth quarter worth $359,000.
About Axalta Coating Systems
Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings primarily for the transportation industry. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers various specially-formulated water and solvent borne products and systems that are used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.
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