Axalta Coating Systems Ltd (NASDAQ:AXTA) has been given an average rating of “Buy” by the eighteen brokerages that are currently covering the company. Seven research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $33.54.
AXTA has been the subject of a number of analyst reports. Citigroup Inc cut Axalta Coating Systems from a “buy” rating to a “neutral” rating in a research report on Monday, January 9th. Gabelli cut Axalta Coating Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 9th. Barclays PLC reiterated a “hold” rating and issued a $33.00 price objective on shares of Axalta Coating Systems in a research note on Thursday, February 9th. Zacks Investment Research upgraded Axalta Coating Systems from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Tuesday, January 17th. Finally, Royal Bank of Canada dropped their price objective on Axalta Coating Systems from $31.00 to $3.00 and set an “outperform” rating on the stock in a research note on Thursday, February 9th.
Shares of Axalta Coating Systems (NASDAQ:AXTA) traded up 2.32% on Tuesday, reaching $31.71. The company’s stock had a trading volume of 1,354,109 shares. Axalta Coating Systems has a 1-year low of $24.27 and a 1-year high of $33.06. The company has a 50 day moving average of $31.16 and a 200 day moving average of $28.30. The stock has a market capitalization of $7.65 billion and a P/E ratio of 186.53.
Axalta Coating Systems (NASDAQ:AXTA) last announced its quarterly earnings results on Wednesday, February 8th. The specialty chemicals company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by $0.01. The business earned $1.03 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the company earned $0.24 earnings per share. Axalta Coating Systems’s revenue was up 2.0% on a year-over-year basis. Equities research analysts expect that Axalta Coating Systems will post $1.39 earnings per share for the current fiscal year.
In other news, CFO Robert W. Bryant sold 114,500 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $31.76, for a total value of $3,636,520.00. Following the transaction, the chief financial officer now directly owns 368,471 shares of the company’s stock, valued at approximately $11,702,638.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Sean M. Lannon sold 993 shares of the business’s stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $29.53, for a total value of $29,323.29. Following the completion of the transaction, the vice president now directly owns 3,799 shares in the company, valued at $112,184.47. The disclosure for this sale can be found here. Over the last quarter, insiders sold 354,179 shares of company stock worth $11,017,866.
A number of hedge funds and other institutional investors have recently bought and sold shares of AXTA. DnB Asset Management AS purchased a new position in Axalta Coating Systems during the third quarter valued at about $297,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Axalta Coating Systems by 25.4% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 30,764 shares of the specialty chemicals company’s stock valued at $870,000 after buying an additional 6,228 shares in the last quarter. SeaBridge Investment Advisors LLC purchased a new position in Axalta Coating Systems during the third quarter valued at about $2,954,000. Hermes Investment Management Ltd. increased its position in Axalta Coating Systems by 9.6% in the third quarter. Hermes Investment Management Ltd. now owns 512,419 shares of the specialty chemicals company’s stock valued at $14,486,000 after buying an additional 45,088 shares in the last quarter. Finally, Cooke & Bieler LP increased its position in Axalta Coating Systems by 20.9% in the third quarter. Cooke & Bieler LP now owns 2,521,284 shares of the specialty chemicals company’s stock valued at $71,277,000 after buying an additional 436,467 shares in the last quarter.
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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.
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