Axalta Coating Systems (NYSE:AXTA) Coverage Initiated by Analysts at Maxim Group

Maxim Group assumed coverage on shares of Axalta Coating Systems (NYSE:AXTA) in a research note released on Wednesday, The Fly reports.

Several other research analysts also recently commented on AXTA. Zacks Investment Research upgraded Axalta Coating Systems from a strong sell rating to a hold rating in a research note on Wednesday, February 20th. JPMorgan Chase & Co. downgraded Axalta Coating Systems from an overweight rating to a neutral rating and cut their target price for the stock from $30.00 to $27.00 in a research note on Friday, April 26th. Finally, BMO Capital Markets set a $32.00 target price on Axalta Coating Systems and gave the stock a hold rating in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $30.27.

AXTA stock opened at $29.99 on Wednesday. The company has a quick ratio of 1.60, a current ratio of 2.21 and a debt-to-equity ratio of 2.98. The firm has a market cap of $6.99 billion, a PE ratio of 23.43, a PEG ratio of 1.40 and a beta of 1.30. Axalta Coating Systems has a fifty-two week low of $21.58 and a fifty-two week high of $30.93.

Axalta Coating Systems (NYSE:AXTA) last issued its earnings results on Wednesday, April 24th. The specialty chemicals company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.21 by $0.13. Axalta Coating Systems had a return on equity of 24.42% and a net margin of 3.90%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the company earned $0.27 EPS. The firm’s revenue was down 4.0% compared to the same quarter last year. On average, equities analysts forecast that Axalta Coating Systems will post 1.73 EPS for the current year.

In other news, Director Charles W. Shaver sold 500,000 shares of Axalta Coating Systems stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $25.24, for a total transaction of $12,620,000.00. Following the completion of the sale, the director now owns 492,369 shares in the company, valued at approximately $12,427,393.56. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Andreas Kramvis sold 55,048 shares of Axalta Coating Systems stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $28.11, for a total value of $1,547,399.28. Following the sale, the director now owns 50,628 shares of the company’s stock, valued at approximately $1,423,153.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 864,868 shares of company stock valued at $22,074,006. Corporate insiders own 2.10% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of AXTA. Creative Planning bought a new stake in shares of Axalta Coating Systems during the 4th quarter valued at about $232,000. Mackenzie Financial Corp boosted its position in shares of Axalta Coating Systems by 851.7% during the 4th quarter. Mackenzie Financial Corp now owns 180,669 shares of the specialty chemicals company’s stock valued at $4,231,000 after acquiring an additional 161,685 shares during the last quarter. Nissay Asset Management Corp Japan ADV boosted its position in shares of Axalta Coating Systems by 7.6% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 19,445 shares of the specialty chemicals company’s stock valued at $455,000 after acquiring an additional 1,376 shares during the last quarter. Westpac Banking Corp purchased a new position in shares of Axalta Coating Systems during the 4th quarter valued at about $302,000. Finally, Prudential Financial Inc. lifted its position in Axalta Coating Systems by 4.6% in the 4th quarter. Prudential Financial Inc. now owns 11,310 shares of the specialty chemicals company’s stock worth $265,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 98.47% of the company’s stock.

About Axalta Coating Systems

Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings systems. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers 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.

Read More: Technical Indicators – What is a Golden Cross?

The Fly

Analyst Recommendations for Axalta Coating Systems (NYSE:AXTA)

Receive News & Ratings for Axalta Coating Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axalta Coating Systems and related companies with MarketBeat.com's FREE daily email newsletter.