Shares of Axalta Coating Systems Ltd (NYSE:AXTA) have received an average recommendation of “Hold” from the sixteen analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $32.08.
A number of research firms have weighed in on AXTA. KeyCorp upped their price objective on shares of Axalta Coating Systems from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. Maxim Group began coverage on shares of Axalta Coating Systems in a research report on Wednesday, June 19th. Bank of America cut shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating in a research report on Friday, August 16th. TheStreet raised shares of Axalta Coating Systems from a “c+” rating to a “b” rating in a research report on Friday, July 26th. Finally, Robert W. Baird increased their price target on shares of Axalta Coating Systems from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th.
In other news, Director Charles W. Shaver sold 500,000 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $25.24, for a total transaction of $12,620,000.00. Following the transaction, the director now owns 492,369 shares of the company’s stock, valued at $12,427,393.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of AXTA. Parallel Advisors LLC lifted its holdings in Axalta Coating Systems by 639.8% in the second quarter. Parallel Advisors LLC now owns 910 shares of the specialty chemicals company’s stock worth $27,000 after acquiring an additional 787 shares during the last quarter. NEXT Financial Group Inc lifted its holdings in Axalta Coating Systems by 633.3% in the second quarter. NEXT Financial Group Inc now owns 1,100 shares of the specialty chemicals company’s stock worth $33,000 after acquiring an additional 950 shares during the last quarter. Hexavest Inc. bought a new position in Axalta Coating Systems in the second quarter worth about $46,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Axalta Coating Systems in the second quarter worth about $57,000. Finally, SRS Capital Advisors Inc. bought a new position in Axalta Coating Systems in the second quarter worth about $58,000. 97.31% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:AXTA traded down $0.66 on Friday, reaching $26.84. The stock had a trading volume of 21,176 shares, compared to its average volume of 2,159,507. The company has a current ratio of 2.32, a quick ratio of 1.71 and a debt-to-equity ratio of 2.92. The company has a 50-day moving average of $29.27 and a 200 day moving average of $27.18. The stock has a market cap of $6.30 billion, a P/E ratio of 21.04, a price-to-earnings-growth ratio of 1.15 and a beta of 1.46. Axalta Coating Systems has a 12-month low of $21.58 and a 12-month high of $32.14.
Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings data on Thursday, July 25th. The specialty chemicals company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.09. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Axalta Coating Systems had a net margin of 4.45% and a return on equity of 27.59%. The firm’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 EPS. On average, equities analysts predict that Axalta Coating Systems will post 1.79 EPS for the current year.
About Axalta Coating Systems
Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings systems. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers 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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