FY2020 EPS Estimates for Axalta Coating Systems Ltd (AXTA) Decreased by Analyst
Axalta Coating Systems Ltd (NYSE:AXTA) – Investment analysts at Gabelli reduced their FY2020 EPS estimates for Axalta Coating Systems in a research report issued to clients and investors on Wednesday. Gabelli analyst C. Jolly now anticipates that the specialty chemicals company will post earnings per share of $1.65 for the year, down from their prior forecast of $1.80. Gabelli also issued estimates for Axalta Coating Systems’ FY2021 earnings at $1.75 EPS.
Other research analysts have also recently issued reports about the company. Nomura lifted their price target on Axalta Coating Systems from $29.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday. BidaskClub upgraded Axalta Coating Systems from a “sell” rating to a “hold” rating in a research report on Monday, October 23rd. Robert W. Baird reiterated a “buy” rating and set a $35.00 price target on shares of Axalta Coating Systems in a research report on Monday, October 30th. Instinet reiterated a “neutral” rating and set a $28.00 price target (down from $30.00) on shares of Axalta Coating Systems in a research report on Friday, October 13th. Finally, Zacks Investment Research upgraded Axalta Coating Systems from a “strong sell” rating to a “hold” rating in a research report on Monday, December 11th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. Axalta Coating Systems currently has an average rating of “Hold” and an average target price of $33.53.
Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings data on Tuesday, February 6th. The specialty chemicals company reported $0.37 earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the business posted ($0.16) earnings per share. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year.
In other news, CEO Charles W. Shaver sold 235,810 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $30.58, for a total value of $7,211,069.80. Following the completion of the sale, the chief executive officer now directly owns 522,752 shares in the company, valued at $15,985,756.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joseph F. Mcdougall sold 1,528 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $30.69, for a total value of $46,894.32. Following the completion of the sale, the executive vice president now owns 101,023 shares of the company’s stock, valued at $3,100,395.87. The disclosure for this sale can be found here. Insiders sold 473,902 shares of company stock valued at $14,498,467 over the last 90 days. Company insiders own 2.30% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. First Republic Investment Management Inc. increased its position in shares of Axalta Coating Systems by 14.3% in the fourth quarter. First Republic Investment Management Inc. now owns 23,319 shares of the specialty chemicals company’s stock valued at $754,000 after buying an additional 2,923 shares in the last quarter. FDx Advisors Inc. boosted its stake in shares of Axalta Coating Systems by 10.3% in the fourth quarter. FDx Advisors Inc. now owns 61,347 shares of the specialty chemicals company’s stock worth $1,985,000 after acquiring an additional 5,715 shares during the last quarter. American International Group Inc. acquired a new stake in shares of Axalta Coating Systems in the fourth quarter worth approximately $163,000. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Axalta Coating Systems by 19.9% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,980,498 shares of the specialty chemicals company’s stock worth $225,889,000 after acquiring an additional 1,156,400 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of Axalta Coating Systems by 2.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 675,774 shares of the specialty chemicals company’s stock worth $21,868,000 after acquiring an additional 17,987 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.
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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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