Axalta Coating Systems Ltd. (NYSE:AXTA) dropped 15.7% on Friday . The stock traded as low as $29.29 and last traded at $31.66. Approximately 23,148,102 shares were traded during mid-day trading, an increase of 897% from the average daily volume of 2,322,859 shares. The stock had previously closed at $37.55.

AXTA has been the subject of several research analyst reports. Royal Bank Of Canada reissued a “buy” rating and issued a $34.00 target price on shares of Axalta Coating Systems in a research report on Wednesday, August 9th. BidaskClub raised shares of Axalta Coating Systems from a “strong sell” rating to a “sell” rating in a research report on Friday, October 6th. Instinet reaffirmed a “neutral” rating and set a $28.00 price objective (down previously from $30.00) on shares of Axalta Coating Systems in a research report on Friday, October 13th. Barclays reaffirmed an “equal weight” rating and set a $33.00 price objective (down previously from $34.00) on shares of Axalta Coating Systems in a research report on Friday, August 4th. Finally, Vertical Research downgraded shares of Axalta Coating Systems from a “buy” rating to a “hold” rating and set a $31.00 price objective for the company. in a research report on Friday. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $33.73.

The company has a quick ratio of 1.50, a current ratio of 2.11 and a debt-to-equity ratio of 2.69. The company has a market cap of $7,560.00 and a PE ratio of 32.74.

Axalta Coating Systems (NYSE:AXTA) last posted its earnings results on Thursday, October 26th. The specialty chemicals company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.23 by $0.03. Axalta Coating Systems had a net margin of 1.46% and a return on equity of 19.91%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the prior year, the firm earned $0.33 EPS. Axalta Coating Systems’s quarterly revenue was up 6.8% on a year-over-year basis. sell-side analysts predict that Axalta Coating Systems Ltd. will post 1.15 earnings per share for the current year.

In other Axalta Coating Systems news, SVP Michael A. Cash sold 34,874 shares of the company’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $30.00, for a total value of $1,046,220.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steven R. Markevich sold 900 shares of the company’s stock in a transaction dated 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 disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Robeco Institutional Asset Management B.V. bought a new position in Axalta Coating Systems in the 2nd quarter worth about $108,000. Bronfman E.L. Rothschild L.P. grew its position in Axalta Coating Systems by 927.6% in the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 4,059 shares of the specialty chemicals company’s stock worth $117,000 after purchasing an additional 3,664 shares during the last quarter. Chicago Partners Investment Group LLC bought a new position in Axalta Coating Systems in the 2nd quarter worth about $127,000. Commonwealth Bank of Australia grew its position in Axalta Coating Systems by 18.1% in the 2nd quarter. Commonwealth Bank of Australia now owns 4,581 shares of the specialty chemicals company’s stock worth $146,000 after purchasing an additional 703 shares during the last quarter. Finally, Acrospire Investment Management LLC grew its position in Axalta Coating Systems by 257.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 4,862 shares of the specialty chemicals company’s stock worth $156,000 after purchasing an additional 3,500 shares during the last quarter. Hedge funds and other institutional investors own 99.28% of the company’s stock.

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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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