Axalta Coating Systems (AXTA) Issues Quarterly Earnings Results

Axalta Coating Systems (NYSE:AXTA) posted its quarterly earnings data on Tuesday, February 6th. The specialty chemicals company reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.05, Bloomberg Earnings reports. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Axalta Coating Systems had a return on equity of 20.93% and a net margin of 0.84%. The business’s revenue was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.16) earnings per share.

Shares of Axalta Coating Systems (AXTA) opened at $30.59 on Tuesday. The firm has a market capitalization of $7,460.00, a PE ratio of 218.57, a P/E/G ratio of 1.65 and a beta of 1.38. Axalta Coating Systems has a fifty-two week low of $27.77 and a fifty-two week high of $38.20. The company has a current ratio of 2.11, a quick ratio of 1.50 and a debt-to-equity ratio of 2.69.

Several brokerages have issued reports on AXTA. KeyCorp restated an “overweight” rating and issued a $40.00 target price (up from $36.00) on shares of Axalta Coating Systems in a research note on Tuesday, November 28th. TheStreet upgraded Axalta Coating Systems from a “c” rating to a “b-” rating in a research note on Wednesday, November 15th. Robert W. Baird reiterated a “buy” rating and set a $35.00 price objective on shares of Axalta Coating Systems in a research note on Monday, October 30th. Citigroup upgraded Axalta Coating Systems from a “sell” rating to a “hold” rating and set a $34.00 price objective on the stock in a research note on Monday, October 30th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $37.00 price objective on shares of Axalta Coating Systems in a research note on Monday, October 30th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. Axalta Coating Systems currently has an average rating of “Hold” and a consensus price target of $33.53.

In other Axalta Coating Systems news, SVP Michael F. Finn sold 3,950 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $32.66, for a total transaction of $129,007.00. Following the completion of the transaction, the senior vice president now owns 108,818 shares of the company’s stock, valued at approximately $3,553,995.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles W. Shaver sold 235,810 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $30.58, for a total value of $7,211,069.80. Following the transaction, the chief executive officer now directly owns 522,752 shares of the company’s stock, valued at approximately $15,985,756.16. The disclosure for this sale can be found here. Insiders have sold a total of 473,902 shares of company stock valued at $14,498,467 over the last 90 days. 2.30% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the company. Diamond Hill Capital Management Inc. raised its position in shares of Axalta Coating Systems by 3.1% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 10,292,166 shares of the specialty chemicals company’s stock worth $297,649,000 after acquiring an additional 308,016 shares in the last quarter. Davis Selected Advisers raised its position in shares of Axalta Coating Systems by 30.1% in the 3rd quarter. Davis Selected Advisers now owns 9,402,305 shares of the specialty chemicals company’s stock worth $271,921,000 after acquiring an additional 2,173,915 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Axalta Coating Systems by 19.9% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,980,498 shares of the specialty chemicals company’s stock worth $225,889,000 after acquiring an additional 1,156,400 shares in the last quarter. Timucuan Asset Management Inc. FL raised its position in shares of Axalta Coating Systems by 1.0% in the 2nd quarter. Timucuan Asset Management Inc. FL now owns 3,743,877 shares of the specialty chemicals company’s stock worth $119,954,000 after acquiring an additional 36,234 shares in the last quarter. Finally, State Street Corp raised its position in shares of Axalta Coating Systems by 11.2% in the 2nd quarter. State Street Corp now owns 3,642,670 shares of the specialty chemicals company’s stock worth $116,710,000 after acquiring an additional 365,915 shares in the last quarter. 99.32% of the stock is 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.

Earnings History for Axalta Coating Systems (NYSE:AXTA)

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