Axalta Coating Systems (AXTA) Downgraded to Neutral at Seaport Global Securities

Seaport Global Securities lowered shares of Axalta Coating Systems (NYSE:AXTA) from a buy rating to a neutral rating in a research report sent to investors on Tuesday. Seaport Global Securities also issued estimates for Axalta Coating Systems’ Q2 2018 earnings at $0.36 EPS, Q3 2018 earnings at $0.36 EPS, Q4 2018 earnings at $0.40 EPS, FY2018 earnings at $1.35 EPS, Q1 2019 earnings at $0.26 EPS, Q2 2019 earnings at $0.42 EPS, Q3 2019 earnings at $0.41 EPS, Q4 2019 earnings at $0.45 EPS and FY2019 earnings at $1.53 EPS.

Several other equities analysts have also issued reports on the company. Bank of America set a $28.00 price objective on Axalta Coating Systems and gave the stock an underperform rating in a report on Tuesday, January 16th. Zacks Investment Research lowered Axalta Coating Systems from a hold rating to a strong sell rating in a report on Tuesday, April 10th. TheStreet lowered Axalta Coating Systems from a b- rating to a c+ rating in a report on Thursday, December 28th. Raymond James started coverage on Axalta Coating Systems in a report on Tuesday, December 19th. They set a market perform rating on the stock. Finally, Royal Bank of Canada reaffirmed a buy rating and set a $35.00 price objective on shares of Axalta Coating Systems in a report on Thursday, February 8th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $33.47.

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NYSE:AXTA opened at $31.47 on Tuesday. The firm has a market capitalization of $7,914.56, a P/E ratio of 26.45, a price-to-earnings-growth ratio of 2.06 and a beta of 1.32. The company has a debt-to-equity ratio of 2.75, a quick ratio of 1.58 and a current ratio of 2.14. Axalta Coating Systems has a 12 month low of $27.77 and a 12 month high of $38.20.

Axalta Coating Systems (NYSE:AXTA) last posted its earnings results on Tuesday, February 6th. The specialty chemicals company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.32 by $0.05. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. Axalta Coating Systems had a return on equity of 20.91% and a net margin of 0.84%. Axalta Coating Systems’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.16) earnings per share. analysts predict that Axalta Coating Systems will post 1.34 EPS for the current fiscal year.

In other news, EVP Joseph F. Mcdougall sold 1,528 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $30.69, for a total transaction of $46,894.32. Following the completion of the sale, the executive vice president now owns 101,023 shares in the company, valued at $3,100,395.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Sean M. Lannon sold 1,080 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $30.77, for a total transaction of $33,231.60. Following the sale, the vice president now owns 14,243 shares of the company’s stock, valued at approximately $438,257.11. The disclosure for this sale can be found here. Insiders have sold 617,688 shares of company stock valued at $19,020,157 in the last quarter. Insiders own 2.30% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in AXTA. Dimensional Fund Advisors LP boosted its stake in shares of Axalta Coating Systems by 4.7% during the third quarter. Dimensional Fund Advisors LP now owns 942,894 shares of the specialty chemicals company’s stock worth $27,269,000 after buying an additional 42,450 shares during the period. AMP Capital Investors Ltd boosted its stake in shares of Axalta Coating Systems by 3.6% during the third quarter. AMP Capital Investors Ltd now owns 65,606 shares of the specialty chemicals company’s stock worth $1,898,000 after buying an additional 2,300 shares during the period. Jane Street Group LLC acquired a new stake in shares of Axalta Coating Systems during the third quarter worth about $395,000. Cubist Systematic Strategies LLC boosted its stake in shares of Axalta Coating Systems by 606.1% during the third quarter. Cubist Systematic Strategies LLC now owns 31,825 shares of the specialty chemicals company’s stock worth $920,000 after buying an additional 27,318 shares during the period. Finally, California Public Employees Retirement System boosted its stake in shares of Axalta Coating Systems by 4.7% during the third quarter. California Public Employees Retirement System now owns 343,935 shares of the specialty chemicals company’s stock worth $9,947,000 after buying an additional 15,435 shares during the period.

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Axalta Coating Systems Company Profile

Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings primarily for the transportation industry. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers various specially-formulated water and solvent borne products and systems that are used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.

Analyst Recommendations for Axalta Coating Systems (NYSE:AXTA)

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