Axalta Coating Systems Ltd. (AXTA) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Axalta Coating Systems Ltd. (NYSE:AXTA) have been given a consensus rating of “Buy” by the sixteen brokerages that are currently covering the stock. Five equities research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $33.70.
Several research firms recently weighed in on AXTA. Zacks Investment Research upgraded shares of Axalta Coating Systems from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Tuesday. Credit Suisse Group AG reissued an “outperform” rating and set a $34.00 price objective on shares of Axalta Coating Systems in a research report on Thursday, September 8th. Gabelli assumed coverage on Axalta Coating Systems in a research report on Thursday, September 1st. They set a “buy” rating and a $37.00 price objective for the company. JPMorgan Chase & Co. set a $30.00 price objective on Axalta Coating Systems and gave the company a “hold” rating in a research report on Wednesday, August 3rd. Finally, Barclays PLC reissued a “hold” rating on shares of Axalta Coating Systems in a research report on Thursday, July 28th.
Shares of Axalta Coating Systems (NYSE:AXTA) traded up 1.327% during trading on Thursday, hitting $26.345. 1,506,242 shares of the stock traded hands. The stock has a 50-day moving average of $27.98 and a 200 day moving average of $28.13. The company has a market cap of $6.30 billion, a P/E ratio of 41.951 and a beta of 1.62. Axalta Coating Systems has a 1-year low of $20.67 and a 1-year high of $30.45.
Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by $0.01. The company earned $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. Axalta Coating Systems had a net margin of 3.76% and a return on equity of 20.89%. The business’s revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.35 EPS. On average, equities research analysts predict that Axalta Coating Systems will post $1.16 EPS for the current fiscal year.
In other Axalta Coating Systems news, VP Sean M. Lannon sold 17,000 shares of the business’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $28.01, for a total transaction of $476,170.00. Following the completion of the sale, the vice president now directly owns 5,842 shares in the company, valued at approximately $163,634.42. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Sean M. Lannon sold 9,336 shares of the business’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $28.07, for a total value of $262,061.52. Following the sale, the vice president now owns 3,615 shares of the company’s stock, valued at $101,473.05. The disclosure for this sale can be found here. 2.79% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. William Blair Investment Management LLC purchased a new stake in Axalta Coating Systems during the second quarter worth about $122,449,000. Iridian Asset Management LLC CT increased its stake in Axalta Coating Systems by 22.3% in the second quarter. Iridian Asset Management LLC CT now owns 14,428,794 shares of the company’s stock worth $382,796,000 after buying an additional 2,629,995 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Axalta Coating Systems during the second quarter worth about $69,059,000. BlackRock Advisors LLC increased its stake in Axalta Coating Systems by 61.9% in the second quarter. BlackRock Advisors LLC now owns 5,678,452 shares of the company’s stock worth $150,650,000 after buying an additional 2,170,700 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its stake in Axalta Coating Systems by 97.8% in the second quarter. First Eagle Investment Management LLC now owns 3,718,020 shares of the company’s stock worth $98,639,000 after buying an additional 1,838,185 shares in the last quarter. Institutional investors and hedge funds own 99.27% of the company’s stock.
About Axalta Coating Systems
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.
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