Axalta Coating Systems (NYSE:AXTA) Downgraded by BidaskClub to “Sell”

BidaskClub downgraded shares of Axalta Coating Systems (NYSE:AXTA) from a hold rating to a sell rating in a report released on Tuesday, November 14th.

A number of other research firms also recently commented on AXTA. KeyCorp reiterated a buy rating and issued a $36.00 price objective on shares of Axalta Coating Systems in a report on Thursday, October 12th. Nomura raised Axalta Coating Systems to a buy rating and reduced their price objective for the stock from $30.00 to $28.00 in a research report on Tuesday, October 10th. Jefferies Group reissued a buy rating and set a $34.00 price target (down from $36.00) on shares of Axalta Coating Systems in a research report on Wednesday, August 9th. Royal Bank Of Canada reaffirmed a buy rating and issued a $34.00 price objective on shares of Axalta Coating Systems in a research report on Wednesday, August 9th. Finally, Citigroup cut their price objective on Axalta Coating Systems from $33.00 to $31.00 and set a buy rating for the company in a research report on Monday, August 7th. Three analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $33.73.

Axalta Coating Systems (AXTA) traded down $0.63 on Tuesday, hitting $31.03. The stock had a trading volume of 6,790,000 shares, compared to its average volume of 4,563,491. The company has a market capitalization of $7,559.84, a PE ratio of 27.95, a PEG ratio of 1.95 and a beta of 1.56. The company has a current ratio of 2.11, a quick ratio of 1.50 and a debt-to-equity ratio of 2.69. Axalta Coating Systems has a 1-year low of $24.72 and a 1-year high of $38.20.

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

In other news, EVP Steven R. Markevich sold 900 shares of Axalta Coating Systems stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $29.42, for a total value of $26,478.00. Following the completion of the transaction, the executive vice president now directly owns 201,393 shares of the company’s stock, valued at approximately $5,924,982.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael A. Cash sold 34,874 shares of Axalta Coating Systems stock in a transaction dated 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. 2.30% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the stock. Prudential Financial Inc. bought a new position in shares of Axalta Coating Systems in the first quarter worth $210,000. Teachers Advisors LLC boosted its position in Axalta Coating Systems by 99.9% during the first quarter. Teachers Advisors LLC now owns 326,040 shares of the specialty chemicals company’s stock valued at $10,498,000 after buying an additional 162,908 shares during the period. Dimensional Fund Advisors LP boosted its position in Axalta Coating Systems by 12.7% during the first quarter. Dimensional Fund Advisors LP now owns 849,973 shares of the specialty chemicals company’s stock valued at $27,368,000 after buying an additional 95,737 shares during the period. Morgan Stanley boosted its position in Axalta Coating Systems by 137.0% during the first quarter. Morgan Stanley now owns 259,928 shares of the specialty chemicals company’s stock valued at $8,371,000 after buying an additional 150,267 shares during the period. Finally, Paloma Partners Management Co purchased a new stake in Axalta Coating Systems during the first quarter valued at about $354,000. 99.28% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Axalta Coating Systems (NYSE:AXTA)

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