Shares of Axalta Coating Systems Ltd (NYSE:AXTA) have earned an average recommendation of “Hold” from the twelve brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $30.09.
AXTA has been the subject of several recent research reports. Zacks Investment Research upgraded Axalta Coating Systems from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 20th. JPMorgan Chase & Co. cut Axalta Coating Systems from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $30.00 to $27.00 in a research report on Friday, April 26th. Finally, BMO Capital Markets set a $32.00 price target on Axalta Coating Systems and gave the company a “hold” rating in a research report on Friday, April 26th.
Shares of NYSE:AXTA traded up $0.14 during trading on Friday, hitting $25.58. The stock had a trading volume of 1,280,836 shares, compared to its average volume of 2,269,326. Axalta Coating Systems has a 12-month low of $21.58 and a 12-month high of $32.83. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 1.22 and a beta of 1.25. The company has a quick ratio of 1.60, a current ratio of 2.21 and a debt-to-equity ratio of 2.98.
Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings data on Wednesday, April 24th. The specialty chemicals company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.13. Axalta Coating Systems had a return on equity of 24.42% and a net margin of 3.90%. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the business posted $0.27 earnings per share. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. As a group, equities analysts anticipate that Axalta Coating Systems will post 1.72 EPS for the current fiscal year.
In other news, Director Charles W. Shaver sold 500,000 shares of Axalta Coating Systems stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $26.71, for a total value of $13,355,000.00. Following the sale, the director now directly owns 394,656 shares of the company’s stock, valued at $10,541,261.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andreas Kramvis sold 55,048 shares of Axalta Coating Systems stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $28.11, for a total value of $1,547,399.28. Following the completion of the sale, the director now directly owns 50,628 shares in the company, valued at $1,423,153.08. The disclosure for this sale can be found here. Insiders sold 894,960 shares of company stock valued at $23,608,589 over the last 90 days. Company insiders own 2.10% of the company’s stock.
Large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its stake in Axalta Coating Systems by 14.2% during the first quarter. Goldman Sachs Group Inc. now owns 3,427,858 shares of the specialty chemicals company’s stock worth $86,416,000 after buying an additional 425,223 shares during the last quarter. ExodusPoint Capital Management LP acquired a new position in Axalta Coating Systems during the first quarter worth $488,000. Oxford Asset Management LLP boosted its stake in Axalta Coating Systems by 434.6% during the first quarter. Oxford Asset Management LLP now owns 63,748 shares of the specialty chemicals company’s stock worth $1,607,000 after buying an additional 51,823 shares during the last quarter. Hsbc Holdings PLC boosted its stake in Axalta Coating Systems by 5.7% during the first quarter. Hsbc Holdings PLC now owns 35,576 shares of the specialty chemicals company’s stock worth $897,000 after buying an additional 1,933 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Axalta Coating Systems by 0.3% during the first quarter. Wellington Management Group LLP now owns 249,500 shares of the specialty chemicals company’s stock worth $6,290,000 after buying an additional 630 shares during the last quarter.
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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