TheStreet downgraded shares of Axalta Coating Systems (NYSE:AXTA) from a b- rating to a c+ rating in a research report sent to investors on Thursday, December 28th.
Other equities analysts have also issued research reports about the company. Vertical Research upgraded Axalta Coating Systems from a hold rating to a buy rating and lifted their target price for the company from $29.00 to $37.00 in a research note on Tuesday, October 31st. Robert W. Baird reissued a buy rating and issued a $35.00 price target on shares of Axalta Coating Systems in a report on Monday, October 30th. KeyCorp reaffirmed a buy rating and set a $36.00 target price on shares of Axalta Coating Systems in a report on Thursday, October 12th. Nomura raised Axalta Coating Systems to a buy rating and decreased their target price for the stock from $30.00 to $28.00 in a report on Tuesday, October 10th. Finally, Royal Bank of Canada reaffirmed a buy rating and set a $37.00 target price on shares of Axalta Coating Systems in a report on Monday, October 30th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $33.73.
Axalta Coating Systems (AXTA) opened at $32.44 on Thursday. The company has a market capitalization of $7,971.59, a price-to-earnings ratio of 135.17, a PEG ratio of 1.72 and a beta of 1.55. The company has a debt-to-equity ratio of 2.69, a quick ratio of 1.50 and a current ratio of 2.11. Axalta Coating Systems has a 52 week low of $27.66 and a 52 week high of $38.20.
Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings results on Thursday, October 26th. The specialty chemicals company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.23 by $0.03. Axalta Coating Systems had a return on equity of 19.91% and a net margin of 1.46%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the firm posted $0.33 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. analysts forecast that Axalta Coating Systems will post 1.15 EPS for the current year.
In other news, SVP Michael F. Finn sold 3,950 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $32.66, for a total value of $129,007.00. Following the transaction, the senior vice president now owns 108,818 shares of the company’s stock, valued at approximately $3,553,995.88. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.30% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of AXTA. Bank of New York Mellon Corp lifted its stake in Axalta Coating Systems by 11.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 833,165 shares of the specialty chemicals company’s stock worth $26,695,000 after acquiring an additional 87,798 shares in the last quarter. Legal & General Group Plc lifted its stake in Axalta Coating Systems by 19.2% during the 2nd quarter. Legal & General Group Plc now owns 270,265 shares of the specialty chemicals company’s stock worth $8,660,000 after acquiring an additional 43,481 shares in the last quarter. Comerica Bank increased its holdings in Axalta Coating Systems by 22.6% during the 2nd quarter. Comerica Bank now owns 10,329 shares of the specialty chemicals company’s stock worth $332,000 after purchasing an additional 1,907 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in Axalta Coating Systems by 11.3% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 149,355 shares of the specialty chemicals company’s stock worth $4,785,000 after purchasing an additional 15,120 shares during the period. Finally, Federated Investors Inc. PA purchased a new stake in Axalta Coating Systems during the 2nd quarter worth about $2,379,000. 99.21% of the stock is currently owned by hedge funds and other institutional investors.
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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. 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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