FY2018 EPS Estimates for Axalta Coating Systems Ltd Lifted by Analyst (AXTA)
Axalta Coating Systems Ltd (NYSE:AXTA) – Research analysts at Gabelli lifted their FY2018 earnings estimates for shares of Axalta Coating Systems in a research note issued to investors on Wednesday. Gabelli analyst C. Jolly now expects that the specialty chemicals company will post earnings per share of $1.45 for the year, up from their prior forecast of $1.40. Gabelli also issued estimates for Axalta Coating Systems’ FY2019 earnings at $1.55 EPS and FY2022 earnings at $1.85 EPS.
A number of other equities analysts have also recently weighed in on the company. Nomura upped their price target on Axalta Coating Systems from $29.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday. BidaskClub upgraded Axalta Coating Systems from a “sell” rating to a “hold” rating in a report on Monday, October 23rd. Robert W. Baird restated a “buy” rating and issued a $35.00 price target on shares of Axalta Coating Systems in a report on Monday, October 30th. Instinet restated a “neutral” rating and issued a $28.00 price target (down previously from $30.00) on shares of Axalta Coating Systems in a report on Friday, October 13th. Finally, Zacks Investment Research upgraded Axalta Coating Systems from a “strong sell” rating to a “hold” rating in a report on Monday, December 11th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. Axalta Coating Systems presently has a consensus rating of “Hold” and an average target price of $33.53.
Axalta Coating Systems (NYSE:AXTA) last issued its earnings results on Tuesday, February 6th. The specialty chemicals company reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.05. Axalta Coating Systems had a return on equity of 20.93% and a net margin of 0.84%. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the business earned ($0.16) EPS. The company’s revenue for the quarter was up 13.5% on a year-over-year basis.
In other news, CEO Charles W. Shaver sold 235,810 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $30.58, for a total transaction of $7,211,069.80. Following the completion of the transaction, the chief executive officer now directly owns 522,752 shares in the company, valued at approximately $15,985,756.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Sean M. Lannon sold 1,080 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $30.77, for a total value of $33,231.60. Following the transaction, the vice president now owns 14,243 shares of the company’s stock, valued at $438,257.11. The disclosure for this sale can be found here. In the last 90 days, insiders sold 473,902 shares of company stock valued at $14,498,467. 2.30% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Axalta Coating Systems by 927.6% during the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 4,059 shares of the specialty chemicals company’s stock valued at $117,000 after buying an additional 3,664 shares during the last quarter. American International Group Inc. purchased a new position in shares of Axalta Coating Systems during the 4th quarter valued at approximately $163,000. Advisor Group Inc. boosted its stake in shares of Axalta Coating Systems by 217.3% during the 2nd quarter. Advisor Group Inc. now owns 5,603 shares of the specialty chemicals company’s stock valued at $179,000 after buying an additional 3,837 shares during the last quarter. LVW Advisors LLC purchased a new position in shares of Axalta Coating Systems during the 3rd quarter valued at approximately $214,000. Finally, Rockefeller Financial Services Inc. purchased a new position in shares of Axalta Coating Systems during the 3rd quarter valued at approximately $215,000. Institutional investors own 98.43% 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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