Equities analysts expect Axalta Coating Systems Ltd (NYSE:AXTA) to post $1.18 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Axalta Coating Systems’ earnings, with the highest sales estimate coming in at $1.20 billion and the lowest estimate coming in at $1.16 billion. Axalta Coating Systems posted sales of $1.17 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 0.9%. The business is expected to report its next quarterly earnings results on Tuesday, February 5th.
According to Zacks, analysts expect that Axalta Coating Systems will report full-year sales of $4.72 billion for the current year, with estimates ranging from $4.69 billion to $4.73 billion. For the next fiscal year, analysts forecast that the company will report sales of $4.83 billion, with estimates ranging from $4.75 billion to $5.01 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Axalta Coating Systems.
Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings results on Thursday, October 25th. The specialty chemicals company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.03. Axalta Coating Systems had a net margin of 1.49% and a return on equity of 22.53%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.16 billion.
AXTA has been the topic of several analyst reports. Nomura dropped their price target on shares of Axalta Coating Systems from $34.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, October 15th. Zacks Investment Research upgraded shares of Axalta Coating Systems from a “sell” rating to a “hold” rating in a research note on Monday, October 29th. BMO Capital Markets dropped their price target on shares of Axalta Coating Systems from $34.00 to $28.00 and set a “hold” rating on the stock in a research note on Friday, October 26th. Citigroup dropped their price target on shares of Axalta Coating Systems from $33.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, October 11th. Finally, ValuEngine lowered shares of Axalta Coating Systems from a “hold” rating to a “sell” rating in a research note on Friday, November 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $31.40.
Shares of AXTA traded up $0.12 during mid-day trading on Monday, hitting $24.61. 3,726,300 shares of the company’s stock were exchanged, compared to its average volume of 2,081,083. Axalta Coating Systems has a twelve month low of $23.65 and a twelve month high of $33.30. The firm has a market cap of $5.85 billion, a price-to-earnings ratio of 20.68, a price-to-earnings-growth ratio of 1.33 and a beta of 1.37. The company has a quick ratio of 1.63, a current ratio of 2.23 and a debt-to-equity ratio of 2.86.
In other Axalta Coating Systems news, EVP Steven R. Markevich sold 16,197 shares of the firm’s stock in a transaction on Tuesday, October 2nd. The shares were sold at an average price of $29.17, for a total value of $472,466.49. Following the sale, the executive vice president now directly owns 161,697 shares in the company, valued at approximately $4,716,701.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steven R. Markevich sold 13,500 shares of the firm’s stock in a transaction on Friday, September 7th. The stock was sold at an average price of $29.47, for a total transaction of $397,845.00. Following the completion of the sale, the executive vice president now owns 177,029 shares in the company, valued at $5,217,044.63. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC lifted its holdings in shares of Axalta Coating Systems by 113.6% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 3,983 shares of the specialty chemicals company’s stock worth $121,000 after acquiring an additional 2,118 shares during the period. First Quadrant L P CA bought a new position in shares of Axalta Coating Systems during the 2nd quarter worth about $124,000. Chicago Partners Investment Group LLC lifted its holdings in shares of Axalta Coating Systems by 78.1% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 4,106 shares of the specialty chemicals company’s stock worth $124,000 after acquiring an additional 1,800 shares during the period. Captrust Financial Advisors lifted its holdings in shares of Axalta Coating Systems by 120.7% during the 2nd quarter. Captrust Financial Advisors now owns 6,742 shares of the specialty chemicals company’s stock worth $204,000 after acquiring an additional 3,687 shares during the period. Finally, Cambridge Investment Research Advisors Inc. bought a new position in shares of Axalta Coating Systems during the 2nd quarter worth about $263,000. 99.83% of the stock is owned by institutional investors.
About Axalta Coating Systems
Axalta Coating Systems Ltd. manufactures, markets, and distributes coatings systems. It operates through the following segments: Performance Coatings and Transportation Coatings. The Performance Coatings segment provides liquid and powder coatings solutions to a fragmented and local customer base. The Transportation Coatings segment offers advanced coatings technologies to original equipment manufacturers of light and commercial vehicles.
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