Axalta Coating Systems Ltd (AXTA) Given Average Rating of “Hold” by Brokerages
Shares of Axalta Coating Systems Ltd (NYSE:AXTA) have been assigned a consensus rating of “Hold” from the fifteen brokerages that are presently covering the company, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $31.36.
A number of equities research analysts have weighed in on AXTA shares. Nomura dropped their price target on shares of Axalta Coating Systems from $34.00 to $29.00 and set a “neutral” rating for the company in a research report on Monday, October 15th. Citigroup dropped their price target on shares of Axalta Coating Systems from $33.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, October 11th. Seaport Global Securities upgraded shares of Axalta Coating Systems from a “neutral” rating to a “buy” rating and set a $31.00 price target for the company in a research report on Monday, October 29th. BMO Capital Markets dropped their price target on shares of Axalta Coating Systems from $34.00 to $28.00 and set a “hold” rating for the company in a research report on Friday, October 26th. Finally, KeyCorp dropped their price target on shares of Axalta Coating Systems from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, July 27th.
In related news, EVP Steven R. Markevich sold 16,197 shares of Axalta Coating Systems stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $29.17, for a total value of $472,466.49. Following the completion of the transaction, the executive vice president now owns 161,697 shares in the company, valued at $4,716,701.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles W. Shaver sold 250,000 shares of Axalta Coating Systems stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $29.73, for a total transaction of $7,432,500.00. Following the completion of the transaction, the director now owns 690,828 shares of the company’s stock, valued at approximately $20,538,316.44. The disclosure for this sale can be found here. Insiders sold 289,677 shares of company stock valued at $8,602,241 in the last 90 days. Company insiders own 2.10% of the company’s stock.
Shares of AXTA opened at $24.98 on Friday. Axalta Coating Systems has a 1-year low of $23.65 and a 1-year high of $38.20. The stock has a market cap of $5.95 billion, a price-to-earnings ratio of 20.99, a P/E/G ratio of 1.36 and a beta of 1.37. The company has a quick ratio of 1.63, a current ratio of 2.23 and a debt-to-equity ratio of 2.86.
Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings results on Thursday, October 25th. The specialty chemicals company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. Axalta Coating Systems had a net margin of 1.49% and a return on equity of 22.53%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.16 billion. As a group, equities research analysts predict that Axalta Coating Systems will post 1.26 earnings per share for the current fiscal year.
Axalta Coating Systems Company Profile
Axalta Coating Systems Ltd. manufactures, markets, and distributes coatings systems. It operates through the following segments: Performance Coatings and Transportation Coatings. The Performance Coatings segment provides liquid and powder coatings solutions to a fragmented and local customer base. The Transportation Coatings segment offers advanced coatings technologies to original equipment manufacturers of light and commercial vehicles.
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