Axalta Coating Systems Ltd (AXTA) Stock Rating Lowered by BidaskClub

BidaskClub lowered shares of Axalta Coating Systems Ltd (NASDAQ:AXTA) from a sell rating to a strong sell rating in a report published on Tuesday, October 17th.

A number of other brokerages have also recently weighed in on AXTA. Royal Bank Of Canada restated a buy rating and issued a $34.00 price target on shares of Axalta Coating Systems in a research report on Wednesday, August 9th. Susquehanna Bancshares Inc started coverage on Axalta Coating Systems in a research report on Tuesday, July 18th. They set a neutral rating and a $37.00 price objective for the company. Instinet reiterated 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 PLC reiterated 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, J P Morgan Chase & Co upgraded Axalta Coating Systems from a neutral rating to an overweight rating and lifted their price objective for the stock from $29.00 to $31.00 in a research report on Friday, August 11th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. Axalta Coating Systems has an average rating of Hold and a consensus target price of $33.87.

Shares of Axalta Coating Systems (NASDAQ:AXTA) traded down $0.34 during mid-day trading on Tuesday, hitting $32.51. The stock had a trading volume of 839,076 shares, compared to its average volume of 3,630,000. Axalta Coating Systems has a twelve month low of $24.44 and a twelve month high of $34.47.

Axalta Coating Systems (NASDAQ:AXTA) last announced its quarterly earnings results on Thursday, October 26th. The specialty chemicals company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. Axalta Coating Systems had a negative return on equity of 6.61% and a negative net margin of 1.73%. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter last year, the business posted $0.33 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis.

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In other news, EVP Steven R. Markevich sold 160,000 shares of Axalta Coating Systems stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $29.37, for a total value of $4,699,200.00. Following the transaction, the executive vice president now directly owns 280,377 shares of the company’s stock, valued at approximately $8,234,672.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steven R. Markevich sold 900 shares of Axalta Coating Systems stock in a transaction dated Tuesday, October 3rd. The shares were 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 in the company, valued at $5,924,982.06. The disclosure for this sale can be found here. Insiders sold a total of 195,774 shares of company stock valued at $5,771,898 in the last 90 days.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Aristotle Capital Management LLC lifted its stake in shares of Axalta Coating Systems by 0.3% in the 1st quarter. Aristotle Capital Management LLC now owns 70,900 shares of the specialty chemicals company’s stock valued at $2,283,000 after purchasing an additional 180 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of Axalta Coating Systems by 1.4% in the 1st quarter. HighTower Advisors LLC now owns 15,520 shares of the specialty chemicals company’s stock valued at $499,000 after purchasing an additional 209 shares in the last quarter. Financial Counselors Inc. lifted its stake in shares of Axalta Coating Systems by 3.3% in the 2nd quarter. Financial Counselors Inc. now owns 7,145 shares of the specialty chemicals company’s stock valued at $229,000 after purchasing an additional 225 shares in the last quarter. RiverPoint Capital Management LLC lifted its stake in shares of Axalta Coating Systems by 1.9% in the 2nd quarter. RiverPoint Capital Management LLC now owns 12,940 shares of the specialty chemicals company’s stock valued at $415,000 after purchasing an additional 245 shares in the last quarter. Finally, Investment Counselors of Maryland LLC lifted its stake in shares of Axalta Coating Systems by 0.7% in the 2nd quarter. Investment Counselors of Maryland LLC now owns 51,401 shares of the specialty chemicals company’s stock valued at $1,647,000 after purchasing an additional 375 shares in the last quarter.

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 (NASDAQ:AXTA)

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