Axalta Coating Systems Ltd (AXTA) Earns “Buy” Rating from Jefferies Group LLC
Axalta Coating Systems Ltd (NASDAQ:AXTA)‘s stock had its “buy” rating reissued by Jefferies Group LLC in a report released on Thursday, July 6th.
Several other equities analysts have also commented on the stock. Royal Bank Of Canada reaffirmed a “buy” rating and set a $36.00 target price on shares of Axalta Coating Systems in a report on Thursday, July 6th. BidaskClub lowered shares of Axalta Coating Systems from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Zacks Investment Research raised shares of Axalta Coating Systems from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Wednesday, June 28th. Bank of America Corporation lowered shares of Axalta Coating Systems from a “buy” rating to an “underperform” rating and cut their price target for the stock from $36.00 to $30.00 in a report on Wednesday, June 21st. Finally, UBS AG reissued a “buy” rating and issued a $39.00 price target (up previously from $37.00) on shares of Axalta Coating Systems in a report on Tuesday, June 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $34.27.
Shares of Axalta Coating Systems (AXTA) traded down 3.59% during trading on Thursday, hitting $28.20. 5,657,310 shares of the stock were exchanged. The stock’s 50 day moving average price is $32.58 and its 200 day moving average price is $31.29. The firm has a market capitalization of $6.83 billion and a price-to-earnings ratio of 93.38. Axalta Coating Systems has a 52 week low of $24.27 and a 52 week high of $34.10.
Axalta Coating Systems (NASDAQ:AXTA) last released its earnings results on Thursday, August 3rd. The specialty chemicals company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.08. Axalta Coating Systems had a net margin of 6.50% and a return on equity of 21.46%. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the business posted $0.34 EPS. Axalta Coating Systems’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts predict that Axalta Coating Systems will post $1.34 earnings per share for the current year.
In other news, CFO Robert W. Bryant sold 40,237 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $31.40, for a total value of $1,263,441.80. Following the completion of the sale, the chief financial officer now directly owns 213,734 shares of the company’s stock, valued at approximately $6,711,247.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Sean M. Lannon sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $33.00, for a total transaction of $165,000.00. Following the completion of the sale, the vice president now directly owns 16,286 shares of the company’s stock, valued at $537,438. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 438,289 shares of company stock valued at $13,876,363.
Large investors have recently bought and sold shares of the company. State Board of Administration of Florida Retirement System boosted its stake in Axalta Coating Systems by 11.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 149,355 shares of the specialty chemicals company’s stock valued at $4,785,000 after buying an additional 15,120 shares in the last quarter. BB&T Securities LLC boosted its stake in Axalta Coating Systems by 14.7% in the second quarter. BB&T Securities LLC now owns 84,839 shares of the specialty chemicals company’s stock valued at $2,718,000 after buying an additional 10,864 shares in the last quarter. Blair William & Co. IL boosted its stake in Axalta Coating Systems by 3.7% in the second quarter. Blair William & Co. IL now owns 174,484 shares of the specialty chemicals company’s stock valued at $5,590,000 after buying an additional 6,236 shares in the last quarter. Pegasus Partners Ltd. bought a new stake in Axalta Coating Systems during the second quarter valued at approximately $2,558,000. Finally, Chartwell Investment Partners LLC bought a new stake in Axalta Coating Systems during the second quarter valued at approximately $331,000.
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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