Axalta Coating Systems (NYSE:AXTA) CFO Robert W. Bryant sold 73,277 shares of the stock in a transaction on Tuesday, May 15th. The shares were sold at an average price of $31.12, for a total transaction of $2,280,380.24. Following the completion of the transaction, the chief financial officer now owns 284,988 shares of the company’s stock, valued at approximately $8,868,826.56. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Shares of NYSE:AXTA opened at $32.21 on Friday. Axalta Coating Systems has a 12 month low of $27.77 and a 12 month high of $38.20. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.63 and a current ratio of 2.26. The stock has a market cap of $7.90 billion, a price-to-earnings ratio of 26.62, a P/E/G ratio of 1.71 and a beta of 1.32.
Axalta Coating Systems (NYSE:AXTA) last issued its earnings results on Wednesday, April 25th. The specialty chemicals company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.04. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.14 billion. Axalta Coating Systems had a net margin of 0.94% and a return on equity of 20.56%. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.26 EPS. analysts expect that Axalta Coating Systems will post 1.32 earnings per share for the current fiscal year.
A number of equities research analysts recently issued reports on AXTA shares. Credit Suisse Group increased their target price on shares of Axalta Coating Systems from $34.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Nomura increased their target price on shares of Axalta Coating Systems from $29.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Royal Bank of Canada reiterated a “buy” rating and set a $35.00 target price on shares of Axalta Coating Systems in a research report on Thursday, February 8th. BMO Capital Markets started coverage on shares of Axalta Coating Systems in a research report on Tuesday, March 27th. They set a “market perform” rating and a $33.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Axalta Coating Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, April 4th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $34.13.
Several hedge funds and other institutional investors have recently modified their holdings of AXTA. Point72 Asia Hong Kong Ltd boosted its stake in shares of Axalta Coating Systems by 17,167.9% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 4,835 shares of the specialty chemicals company’s stock valued at $146,000 after purchasing an additional 4,807 shares during the last quarter. American International Group Inc. bought a new position in shares of Axalta Coating Systems in the 4th quarter valued at about $163,000. Levin Capital Strategies L.P. bought a new position in shares of Axalta Coating Systems in the 1st quarter valued at about $226,000. IFM Investors Pty Ltd bought a new position in shares of Axalta Coating Systems in the 1st quarter valued at about $230,000. Finally, IBM Retirement Fund bought a new position in shares of Axalta Coating Systems in the 1st quarter valued at about $254,000.
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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