Axalta Coating Systems Ltd (AXTA) Earns Buy Rating from KeyCorp
KeyCorp reiterated their buy rating on shares of Axalta Coating Systems Ltd (NASDAQ:AXTA) in a research note issued to investors on Thursday. The firm currently has a $36.00 price objective on the specialty chemicals company’s stock.
Other analysts also recently issued reports about the company. Royal Bank Of Canada restated a buy rating and issued a $37.00 price target on shares of Axalta Coating Systems in a research note on Friday, July 14th. Jefferies Group LLC reaffirmed a buy rating on shares of Axalta Coating Systems in a report on Thursday, July 6th. BidaskClub raised Axalta Coating Systems from a hold rating to a buy rating in a report on Tuesday, June 20th. Citigroup Inc. dropped their price objective on Axalta Coating Systems from $33.00 to $31.00 and set a buy rating for the company in a report on Monday, August 7th. Finally, Nomura raised Axalta Coating Systems to a buy rating and dropped their price objective for the company from $30.00 to $28.00 in a report on Tuesday, October 10th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $32.14.
Axalta Coating Systems (AXTA) opened at 28.27 on Thursday. Axalta Coating Systems has a 52 week low of $24.27 and a 52 week high of $34.10. The company has a 50 day moving average price of $29.13 and a 200-day moving average price of $30.96. The firm has a market capitalization of $6.87 billion and a price-to-earnings ratio of 2827.00.
Axalta Coating Systems (NASDAQ:AXTA) last released its quarterly earnings results on Thursday, August 3rd. The specialty chemicals company reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 negative net margin of 1.73% and a negative return on equity of 6.61%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 earnings per share. Equities analysts predict that Axalta Coating Systems will post $1.17 earnings per share for the current year.
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In other news, EVP Steven R. Markevich sold 900 shares of the business’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $29.42, for a total transaction of $26,478.00. Following the completion of the transaction, the executive vice president now owns 201,393 shares of the company’s stock, valued at approximately $5,924,982.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael A. Cash sold 34,874 shares of the business’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $30.00, for a total value of $1,046,220.00. The disclosure for this sale can be found here. Insiders have sold a total of 195,774 shares of company stock valued at $5,771,898 in the last three months.
Several institutional investors have recently bought and sold shares of the company. Leith Wheeler Investment Counsel Ltd. raised its holdings in shares of Axalta Coating Systems by 30.7% during the 3rd quarter. Leith Wheeler Investment Counsel Ltd. now owns 78,518 shares of the specialty chemicals company’s stock worth $2,304,000 after buying an additional 18,460 shares in the last quarter. Norman Fields Gottscho Capital Management LLC raised its holdings in shares of Axalta Coating Systems by 0.7% during the 3rd quarter. Norman Fields Gottscho Capital Management LLC now owns 244,320 shares of the specialty chemicals company’s stock worth $7,066,000 after buying an additional 1,735 shares in the last quarter. Burgundy Asset Management Ltd. raised its holdings in shares of Axalta Coating Systems by 2.3% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 204,231 shares of the specialty chemicals company’s stock worth $6,544,000 after buying an additional 4,562 shares in the last quarter. WINTON GROUP Ltd acquired a new position in shares of Axalta Coating Systems during the 2nd quarter worth $327,000. Finally, Verition Fund Management LLC raised its holdings in shares of Axalta Coating Systems by 17.9% during the 2nd quarter. Verition Fund Management LLC now owns 17,345 shares of the specialty chemicals company’s stock worth $556,000 after buying an additional 2,638 shares in 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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