Axalta Coating Systems Ltd. (NYSE:AXTA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.
According to Zacks, “Axalta Coating Systems Ltd. is a global coatings company engaged in the manufacturing, marketing and distribution of coatings systems. The company offers waterborne and solvent borne coatings; liquid and powder coatings; and liquid coatings. It provides a range of performance and transportation coatings for manufacturers of light and commercial vehicles, the refinish aftermarket and for many industrial applications. The Company’s products and services include paint, color matching tools, application technologies and customer training, support and business management systems. Axalta Coating Systems Ltd. is headquartered in Philadelphia, Pennsylvania. “
In other Axalta Coating Systems news, major shareholder V General Partner L.L.C. Cp sold 3,190,000 shares of the firm’s stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $27.93, for a total value of $89,096,700.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Steven R. Markevich sold 1,794 shares of the firm’s stock in a transaction dated Friday, May 13th. The shares were sold at an average price of $27.95, for a total transaction of $50,142.30. Following the completion of the transaction, the executive vice president now directly owns 192,530 shares in the company, valued at $5,381,213.50. The disclosure for this sale can be found here.
Axalta Coating Systems (NYSE:AXTA) traded down 2.31% during trading on Thursday, reaching $28.30. 14,213,921 shares of the company’s stock were exchanged. Axalta Coating Systems has a 52-week low of $20.67 and a 52-week high of $33.19. The firm has a market cap of $6.77 billion and a P/E ratio of 45.06. The stock’s 50 day moving average price is $27.46 and its 200 day moving average price is $27.05.
Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the company posted $0.35 EPS. Axalta Coating Systems’s revenue was down 2.6% on a year-over-year basis. Equities research analysts anticipate that Axalta Coating Systems will post $1.19 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised its position in Axalta Coating Systems by 4.0% in the first quarter. State Street Corp now owns 2,244,670 shares of the company’s stock valued at $65,543,000 after buying an additional 85,743 shares in the last quarter. Marshall Wace LLP raised its position in Axalta Coating Systems by 7.4% in the fourth quarter. Marshall Wace LLP now owns 364,546 shares of the company’s stock valued at $9,715,000 after buying an additional 25,125 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in Axalta Coating Systems by 13.8% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 1,084,796 shares of the company’s stock valued at $28,910,000 after buying an additional 131,346 shares in the last quarter. New York State Common Retirement Fund raised its position in Axalta Coating Systems by 27.2% in the fourth quarter. New York State Common Retirement Fund now owns 495,005 shares of the company’s stock valued at $13,192,000 after buying an additional 105,820 shares in the last quarter. Finally, Monarch Partners Asset Management LLC raised its position in Axalta Coating Systems by 3.9% in the fourth quarter. Monarch Partners Asset Management LLC now owns 311,734 shares of the company’s stock valued at $8,308,000 after buying an additional 11,809 shares in the last quarter.
Axalta Coating Systems Ltd. is a holding company. The Company is a manufacturer, marketer and distributor of coatings systems primarily serving the transportation industry. Its segments include Performance Coatings and Transportation Coatings. The Company, through its Performance Coatings segment, provides liquid and powder coatings solutions to a fragmented and local customer base.
