Axalta Coating Systems Ltd (NASDAQ:AXTA) had its price objective hoisted by Credit Suisse Group from $33.00 to $37.00 in a report issued on Monday. They currently have an outperform rating on the specialty chemicals company’s stock.
Several other research firms have also recently weighed in on AXTA. Royal Bank Of Canada reiterated a buy rating and issued a $34.00 price target on shares of Axalta Coating Systems in a report on Wednesday, August 9th. BidaskClub upgraded shares of Axalta Coating Systems from a strong sell rating to a sell rating in a report on Friday, October 6th. Susquehanna Bancshares Inc initiated coverage on shares of Axalta Coating Systems in a report on Tuesday, July 18th. They issued a neutral rating and a $37.00 price target on the stock. Instinet reiterated 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, Barclays PLC reiterated an equal weight rating and issued a $33.00 price target (down previously from $34.00) on shares of Axalta Coating Systems in a report on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $33.87.
Axalta Coating Systems (AXTA) traded down $0.28 during trading hours on Monday, reaching $31.80. 514,324 shares of the company traded hands, compared to its average volume of 2,093,593. Axalta Coating Systems has a twelve month low of $24.72 and a twelve month high of $34.47.
Axalta Coating Systems (NASDAQ:AXTA) last released its quarterly earnings results on Thursday, October 26th. The specialty chemicals company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.03. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Axalta Coating Systems had a negative net margin of 1.73% and a negative return on equity of 6.61%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.33 earnings per share.
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 owns 201,393 shares of the company’s stock, valued at approximately $5,924,982.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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. In the last ninety days, insiders sold 195,774 shares of company stock valued at $5,771,898.
Institutional investors and hedge funds have recently bought and sold shares of the company. Country Trust Bank purchased a new position in shares of Axalta Coating Systems in the 3rd quarter worth about $5,038,000. State Street Corp raised its position in shares of Axalta Coating Systems by 11.2% in the 2nd quarter. State Street Corp now owns 3,642,670 shares of the specialty chemicals company’s stock worth $116,710,000 after purchasing an additional 365,915 shares during the last quarter. Delta Lloyd Asset Management N.V. purchased a new position in shares of Axalta Coating Systems in the 2nd quarter worth about $2,564,000. Federated Investors Inc. PA purchased a new position in shares of Axalta Coating Systems in the 2nd quarter worth about $2,379,000. Finally, Engineers Gate Manager LP raised its position in shares of Axalta Coating Systems by 46.7% in the 2nd quarter. Engineers Gate Manager LP now owns 94,895 shares of the specialty chemicals company’s stock worth $3,040,000 after purchasing an additional 30,208 shares during 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.
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