Sean M. Lannon Sells 9,336 Shares of Axalta Coating Systems Ltd. (AXTA) Stock
Axalta Coating Systems Ltd. (NYSE:AXTA) VP Sean M. Lannon sold 9,336 shares of Axalta Coating Systems stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $28.07, for a total transaction of $262,061.52. Following the completion of the transaction, the vice president now owns 3,615 shares of the company’s stock, valued at $101,473.05. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Axalta Coating Systems Ltd. (NYSE:AXTA) opened at 28.11 on Friday. The stock has a market cap of $6.72 billion, a PE ratio of 44.76 and a beta of 1.62. The company has a 50-day moving average of $28.12 and a 200-day moving average of $28.19. Axalta Coating Systems Ltd. has a 12 month low of $20.67 and a 12 month high of $30.45.
Axalta Coating Systems (NYSE:AXTA) last announced its earnings results on Tuesday, July 26th. The company reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by $0.01. Axalta Coating Systems had a net margin of 3.76% and a return on equity of 20.89%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the company posted $0.35 earnings per share. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. On average, equities analysts forecast that Axalta Coating Systems Ltd. will post $1.16 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Group LTD boosted its stake in shares of Axalta Coating Systems by 1.1% in the first quarter. BlackRock Group LTD now owns 1,916,755 shares of the company’s stock worth $55,971,000 after buying an additional 20,815 shares in the last quarter. Nisa Investment Advisors L.L.C. acquired a new stake in shares of Axalta Coating Systems during the first quarter worth approximately $429,000. Royal Bank of Canada boosted its stake in shares of Axalta Coating Systems by 3.5% in the first quarter. Royal Bank of Canada now owns 7,050 shares of the company’s stock worth $207,000 after buying an additional 236 shares in the last quarter. Gabelli Funds LLC acquired a new stake in shares of Axalta Coating Systems during the second quarter worth approximately $265,000. Finally, State Board of Administration of Florida Retirement System boosted its stake in shares of Axalta Coating Systems by 47.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 116,167 shares of the company’s stock worth $3,082,000 after buying an additional 37,190 shares in the last quarter. 99.27% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on the stock. Seaport Global Securities upgraded shares of Axalta Coating Systems from an “accumulate” rating to a “buy” rating and lifted their price objective for the company from $34.00 to $36.00 in a research note on Wednesday, July 27th. Morgan Stanley reiterated a “hold” rating on shares of Axalta Coating Systems in a research note on Thursday, June 16th. Nomura reissued a “buy” rating on shares of Axalta Coating Systems in a report on Tuesday, July 12th. Credit Suisse Group AG reissued an “outperform” rating and issued a $34.00 price target on shares of Axalta Coating Systems in a report on Thursday, September 8th. Finally, Barclays PLC reissued a “hold” rating on shares of Axalta Coating Systems in a report on Thursday, July 28th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $32.92.
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. Its segments include Performance Coatings and Transportation Coatings. The Company, through its Performance Coatings segment, provides liquid and powder coatings solutions to a fragmented and local customer base.
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