Axalta Coating Systems’ (AXTA) “Equal Weight” Rating Reiterated at Barclays PLC
Axalta Coating Systems Ltd (NASDAQ:AXTA)‘s stock had its “equal weight” rating reaffirmed by equities researchers at Barclays PLC in a note issued to investors on Friday. They currently have a $33.00 price target on the specialty chemicals company’s stock, down from their prior price target of $34.00. Barclays PLC’s price objective points to a potential upside of 16.03% from the company’s previous close.
A number of other research analysts have also commented on the company. BidaskClub lowered Axalta Coating Systems from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Susquehanna Bancshares Inc assumed coverage on Axalta Coating Systems in a report on Tuesday, July 18th. They set a “neutral” rating and a $37.00 price target on the stock. Royal Bank Of Canada reissued a “buy” rating and set a $37.00 price target on shares of Axalta Coating Systems in a report on Friday, July 14th. Jefferies Group LLC reissued a “buy” rating on shares of Axalta Coating Systems in a report on Thursday, July 6th. Finally, Zacks Investment Research raised Axalta Coating Systems from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Wednesday, June 28th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. Axalta Coating Systems has a consensus rating of “Hold” and an average price target of $33.80.
Shares of Axalta Coating Systems (NASDAQ AXTA) traded down 0.49% during trading on Friday, reaching $28.30. 1,809,544 shares of the company’s stock traded hands. The company has a market capitalization of $6.85 billion and a price-to-earnings ratio of 93.71. Axalta Coating Systems has a 1-year low of $24.27 and a 1-year high of $34.10. The company has a 50 day moving average of $32.28 and a 200-day moving average of $31.25.
Axalta Coating Systems (NASDAQ:AXTA) last posted its earnings results on Thursday, August 3rd. The specialty chemicals company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by $0.08. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.12 billion. Axalta Coating Systems had a net margin of 6.50% and a return on equity of 21.46%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 earnings per share. Equities analysts predict that Axalta Coating Systems will post $1.30 earnings per share for the current year.
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In other news, Director Samuel L. Smolik bought 4,000 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were purchased at an average cost of $28.16 per share, with a total value of $112,640.00. Following the completion of the acquisition, the director now directly owns 4,000 shares in the company, valued at $112,640. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Sean M. Lannon sold 5,000 shares of Axalta Coating Systems stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $33.00, for a total value of $165,000.00. Following the transaction, the vice president now directly owns 16,286 shares in the company, valued at $537,438. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 438,289 shares of company stock worth $13,876,363.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Thompson Siegel & Walmsley LLC raised its position in Axalta Coating Systems by 42.6% in the second quarter. Thompson Siegel & Walmsley LLC now owns 9,700 shares of the specialty chemicals company’s stock worth $311,000 after buying an additional 2,900 shares during the last quarter. JPMorgan Chase & Co. raised its position in Axalta Coating Systems by 11.6% in the second quarter. JPMorgan Chase & Co. now owns 393,561 shares of the specialty chemicals company’s stock worth $12,609,000 after buying an additional 40,787 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in Axalta Coating Systems by 3.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 50,465 shares of the specialty chemicals company’s stock worth $1,616,000 after buying an additional 1,772 shares during the last quarter. Delta Lloyd Asset Management N.V. purchased a new position in Axalta Coating Systems during the second quarter worth about $2,564,000. Finally, Swiss National Bank raised its position in Axalta Coating Systems by 2.8% in the second quarter. Swiss National Bank now owns 788,600 shares of the specialty chemicals company’s stock worth $25,267,000 after buying an additional 21,800 shares during the last quarter.
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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