Steven R. Markevich Sells 108,558 Shares of Axalta Coating Systems Ltd (AXTA) Stock
Axalta Coating Systems Ltd (NASDAQ:AXTA) EVP Steven R. Markevich sold 108,558 shares of the business’s stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $31.13, for a total transaction of $3,379,410.54. Following the completion of the sale, the executive vice president now directly owns 341,725 shares of the company’s stock, valued at approximately $10,637,899.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Axalta Coating Systems Ltd (NASDAQ:AXTA) opened at 32.10 on Tuesday. The company has a 50-day moving average price of $29.86 and a 200-day moving average price of $27.75. The firm has a market cap of $7.75 billion and a P/E ratio of 188.82. Axalta Coating Systems Ltd has a 1-year low of $24.27 and a 1-year high of $33.06.
Axalta Coating Systems (NASDAQ:AXTA) last announced its earnings results on Wednesday, February 8th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by $0.01. The firm earned $1.03 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the company posted $0.24 earnings per share. Axalta Coating Systems’s revenue was up 2.0% on a year-over-year basis. On average, equities research analysts forecast that Axalta Coating Systems Ltd will post $1.39 EPS for the current fiscal year.
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Large investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Axalta Coating Systems during the fourth quarter valued at about $171,966,000. Davis Selected Advisers raised its stake in shares of Axalta Coating Systems by 34,145.2% in the fourth quarter. Davis Selected Advisers now owns 3,903,956 shares of the company’s stock valued at $106,188,000 after buying an additional 3,892,556 shares in the last quarter. Roystone Capital Management LP acquired a new stake in shares of Axalta Coating Systems during the fourth quarter valued at about $67,306,000. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Axalta Coating Systems by 53.3% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,898,523 shares of the company’s stock valued at $160,440,000 after buying an additional 2,050,143 shares in the last quarter. Finally, Luminus Management LLC acquired a new stake in shares of Axalta Coating Systems during the fourth quarter valued at about $41,728,000.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Axalta Coating Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, January 18th. Instinet reissued a “buy” rating and issued a $33.00 target price on shares of Axalta Coating Systems in a research report on Tuesday, March 14th. They noted that the move was a valuation call. Vertical Group cut shares of Axalta Coating Systems from a “buy” rating to a “hold” rating in a research report on Friday, December 2nd. Royal Bank of Canada boosted their target price on shares of Axalta Coating Systems from $33.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday, March 15th. Finally, Evercore ISI assumed coverage on Axalta Coating Systems in a research note on Monday, February 13th. They issued a “buy” rating and a $34.00 price target for the company. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $33.14.
About Axalta Coating Systems
Axalta Coating Systems Ltd. is a holding company. The Company is a manufacturer, marketer and distributor of coatings systems primarily serving the transportation industry. Its segments include Performance Coatings and Transportation Coatings. The Company, through its Performance Coatings segment, provides liquid and powder coatings solutions to a fragmented and local customer base.
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