Wall Street analysts expect Axalta Coating Systems Ltd (NYSE:AXTA) to announce $1.16 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Axalta Coating Systems’ earnings, with estimates ranging from $1.13 billion to $1.19 billion. Axalta Coating Systems reported sales of $1.10 billion during the same quarter last year, which would suggest a positive year over year growth rate of 5.5%. The firm is expected to issue its next quarterly earnings report on Thursday, October 25th.
On average, analysts expect that Axalta Coating Systems will report full year sales of $4.77 billion for the current fiscal year, with estimates ranging from $4.73 billion to $4.82 billion. For the next fiscal year, analysts forecast that the firm will post sales of $4.93 billion per share, with estimates ranging from $4.81 billion to $5.07 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Axalta Coating Systems.
Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings data on Wednesday, July 25th. The specialty chemicals company reported $0.36 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.22 billion. Axalta Coating Systems had a net margin of 2.97% and a return on equity of 21.32%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the business posted $0.31 EPS.
Several research firms have commented on AXTA. Barclays reiterated a “hold” rating and issued a $32.00 price objective on shares of Axalta Coating Systems in a research note on Tuesday, July 31st. Zacks Investment Research upgraded shares of Axalta Coating Systems from a “sell” rating to a “hold” rating in a research note on Monday, July 30th. KeyCorp decreased their price objective on shares of Axalta Coating Systems from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday, July 27th. JPMorgan Chase & Co. upgraded shares of Axalta Coating Systems from a “neutral” rating to an “overweight” rating and set a $33.00 price objective for the company in a research note on Friday, July 27th. Finally, Nomura decreased their price objective on shares of Axalta Coating Systems from $35.00 to $34.00 and set a “neutral” rating for the company in a research note on Wednesday, July 11th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. Axalta Coating Systems currently has an average rating of “Hold” and an average target price of $33.77.
NYSE:AXTA traded up $0.10 on Wednesday, hitting $29.33. The stock had a trading volume of 2,570,900 shares, compared to its average volume of 1,877,977. The company has a debt-to-equity ratio of 2.73, a quick ratio of 1.67 and a current ratio of 2.27. The firm has a market cap of $7.02 billion, a price-to-earnings ratio of 24.55, a price-to-earnings-growth ratio of 1.58 and a beta of 1.26. Axalta Coating Systems has a 1 year low of $28.04 and a 1 year high of $38.20.
In other news, Director Charles W. Shaver sold 250,000 shares of the firm’s 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 sale, the director now owns 690,828 shares in the company, valued at approximately $20,538,316.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Joseph F. Mcdougall sold 34,281 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $29.87, for a total transaction of $1,023,973.47. Following the sale, the executive vice president now owns 73,767 shares of the company’s stock, valued at approximately $2,203,420.29. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 344,526 shares of company stock valued at $10,253,262. 2.30% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of AXTA. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Axalta Coating Systems by 10.7% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 16,500 shares of the specialty chemicals company’s stock worth $498,000 after buying an additional 1,600 shares during the period. Xact Kapitalforvaltning AB boosted its holdings in Axalta Coating Systems by 5.5% in the 1st quarter. Xact Kapitalforvaltning AB now owns 31,186 shares of the specialty chemicals company’s stock worth $942,000 after buying an additional 1,618 shares during the period. Investment Counselors of Maryland LLC boosted its holdings in Axalta Coating Systems by 3.2% in the 2nd quarter. Investment Counselors of Maryland LLC now owns 55,392 shares of the specialty chemicals company’s stock worth $1,679,000 after buying an additional 1,715 shares during the period. Chicago Partners Investment Group LLC boosted its holdings in Axalta Coating Systems by 78.1% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 4,106 shares of the specialty chemicals company’s stock worth $124,000 after buying an additional 1,800 shares during the period. Finally, First Trust Advisors LP boosted its holdings in Axalta Coating Systems by 3.0% in the 2nd quarter. First Trust Advisors LP now owns 62,701 shares of the specialty chemicals company’s stock worth $1,900,000 after buying an additional 1,834 shares during the period.
About Axalta Coating Systems
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.
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