Axalta Coating Systems Ltd. (AXTA) Stock Rating Upgraded by Zacks Investment Research
Axalta Coating Systems Ltd. (NYSE:AXTA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage currently has a $30.00 price objective on the stock. Zacks Investment Research’s target price suggests a potential upside of 15.38% from the company’s current price.
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. “
A number of other equities research analysts also recently weighed in on AXTA. JPMorgan Chase & Co. set a $30.00 target price on Axalta Coating Systems and gave the stock a “hold” rating in a research report on Wednesday, August 3rd. Barclays PLC restated a “hold” rating on shares of Axalta Coating Systems in a research note on Thursday, July 28th. Credit Suisse Group AG restated an “outperform” rating and set a $34.00 price target on shares of Axalta Coating Systems in a research note on Thursday, September 8th. Nomura restated a “buy” rating on shares of Axalta Coating Systems in a research note on Tuesday, July 12th. Finally, Seaport Global Securities upgraded shares of Axalta Coating Systems from an “accumulate” rating to a “buy” rating and raised their price target for the stock from $34.00 to $36.00 in a research note on Wednesday, July 27th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $32.69.
Shares of Axalta Coating Systems (NYSE:AXTA) opened at 26.00 on Tuesday. The stock’s 50 day moving average price is $27.98 and its 200-day moving average price is $28.13. The firm has a market capitalization of $6.22 billion, a PE ratio of 41.40 and a beta of 1.62. Axalta Coating Systems has a 12 month low of $20.67 and a 12 month high of $30.45.
Axalta Coating Systems (NYSE:AXTA) last released its earnings results on Tuesday, July 26th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by $0.01. Axalta Coating Systems had a return on equity of 20.89% and a net margin of 3.76%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the business earned $0.35 earnings per share. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. On average, equities analysts anticipate that Axalta Coating Systems will post $1.16 earnings per share for the current fiscal year.
In related news, major shareholder V General Partner L.L.C. Cp sold 41,621,996 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $28.13, for a total value of $1,170,826,747.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert W. Bryant sold 227,654 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $28.33, for a total transaction of $6,449,437.82. Following the completion of the sale, the chief financial officer now directly owns 294,256 shares of the company’s stock, valued at approximately $8,336,272.48. The disclosure for this sale can be found here. 2.79% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the stock. Daiwa Securities Group Inc. raised its stake in shares of Axalta Coating Systems by 29.0% in the second quarter. Daiwa Securities Group Inc. now owns 4,000 shares of the company’s stock worth $106,000 after buying an additional 900 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in Axalta Coating Systems by 28.7% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 4,524 shares of the company’s stock worth $108,000 after buying an additional 1,010 shares in the last quarter. American International Group Inc. raised its stake in Axalta Coating Systems by 61.9% in the second quarter. American International Group Inc. now owns 4,059 shares of the company’s stock worth $108,000 after buying an additional 1,552 shares in the last quarter. Tredje AP fonden acquired a new stake in Axalta Coating Systems during the second quarter worth approximately $122,000. Finally, First Mercantile Trust Co. acquired a new stake in Axalta Coating Systems during the second quarter worth approximately $143,000. 99.27% of the stock is owned by institutional investors and hedge funds.
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. 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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