Axalta Coating Systems Ltd (NASDAQ:AXTA) Downgraded to “Strong Sell” at BidaskClub
BidaskClub lowered shares of Axalta Coating Systems Ltd (NASDAQ:AXTA) from a sell rating to a strong sell rating in a research report released on Friday.
Other research analysts have also recently issued research reports about the company. Instinet cut Axalta Coating Systems from a buy rating to a neutral rating and set a $33.00 target price on the stock. in a research note on Friday, April 21st. UBS AG restated a buy rating and set a $39.00 price target (up from $37.00) on shares of Axalta Coating Systems in a research report on Tuesday, June 6th. Zacks Investment Research lowered shares of Axalta Coating Systems from a buy rating to a hold rating in a research report on Friday, April 28th. Royal Bank Of Canada restated a buy rating and set a $36.00 price target on shares of Axalta Coating Systems in a research report on Thursday, July 6th. Finally, Jefferies Group LLC restated a buy rating on shares of Axalta Coating Systems in a research report on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $34.27.
Shares of Axalta Coating Systems (NASDAQ AXTA) opened at 28.24 on Friday. Axalta Coating Systems has a 12-month low of $24.27 and a 12-month high of $34.10. The firm has a market cap of $6.84 billion and a P/E ratio of 93.51. The company’s 50 day moving average price is $32.58 and its 200 day moving average price is $31.29.
Axalta Coating Systems (NASDAQ:AXTA) last released its earnings results on Thursday, August 3rd. The specialty chemicals company reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by $0.08. The firm 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 firm’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.34 EPS. Equities research analysts forecast that Axalta Coating Systems will post $1.33 EPS for the current year.
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In other news, VP Sean M. Lannon sold 5,000 shares of the stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $33.00, for a total transaction of $165,000.00. Following the completion of the sale, the vice president now directly owns 16,286 shares in the company, valued at $537,438. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Charles W. Shaver sold 179,487 shares of the stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $31.32, for a total transaction of $5,621,532.84. Following the sale, the chief executive officer now owns 528,907 shares of the company’s stock, valued at $16,565,367.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 438,289 shares of company stock valued at $13,876,363.
Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its stake in Axalta Coating Systems by 6,436.4% in the first quarter. BlackRock Inc. now owns 18,564,446 shares of the specialty chemicals company’s stock worth $597,775,000 after buying an additional 18,280,429 shares in the last quarter. Bessemer Group Inc. raised its stake in Axalta Coating Systems by 554,273.3% in the second quarter. Bessemer Group Inc. now owns 2,760,779 shares of the specialty chemicals company’s stock worth $88,456,000 after buying an additional 2,760,281 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in Axalta Coating Systems by 260.7% in the first quarter. TIAA CREF Investment Management LLC now owns 1,898,024 shares of the specialty chemicals company’s stock worth $61,116,000 after buying an additional 1,371,808 shares in the last quarter. MARSHALL WACE ASIA Ltd purchased a new stake in Axalta Coating Systems during the first quarter worth $38,627,000. Finally, Marshall Wace North America L.P. purchased a new stake in Axalta Coating Systems during the first quarter worth $38,627,000.
About Axalta Coating Systems
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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