Axalta Coating Systems’ (AXTA) “Buy” Rating Reiterated at KeyCorp
KeyCorp reaffirmed their buy rating on shares of Axalta Coating Systems Ltd (NASDAQ:AXTA) in a research note published on Thursday. KeyCorp currently has a $36.00 target price on the specialty chemicals company’s stock.
Other equities research analysts also recently issued reports about the company. BidaskClub downgraded Axalta Coating Systems from a buy rating to a hold rating in a report on Thursday, June 29th. Citigroup Inc. lowered their price target on Axalta Coating Systems from $33.00 to $31.00 and set a buy rating for the company in a report on Monday, August 7th. Royal Bank Of Canada restated a buy rating and issued a $36.00 price target on shares of Axalta Coating Systems in a report on Thursday, July 6th. Jefferies Group LLC restated a buy rating on shares of Axalta Coating Systems in a report on Thursday, July 6th. Finally, Bank of America Corporation downgraded Axalta Coating Systems from a buy rating to an underperform rating and lowered their price target for the stock from $36.00 to $30.00 in a report on Wednesday, June 21st. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. Axalta Coating Systems has an average rating of Hold and an average target price of $32.14.
Shares of Axalta Coating Systems (NASDAQ:AXTA) traded down 0.07% during trading on Thursday, reaching $28.27. The company had a trading volume of 1,937,762 shares. Axalta Coating Systems has a 12 month low of $24.27 and a 12 month high of $34.10. The firm has a market capitalization of $6.87 billion and a PE ratio of 2827.00. The stock has a 50 day moving average price of $29.13 and a 200 day moving average price of $30.97.
Axalta Coating Systems (NASDAQ:AXTA) last released its quarterly earnings data on Thursday, August 3rd. The specialty chemicals company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.08). Axalta Coating Systems had a negative net margin of 1.73% and a negative return on equity of 6.61%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the company posted $0.34 EPS. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, equities research analysts forecast that Axalta Coating Systems will post $1.17 EPS for the current year.
In other news, SVP Michael A. Cash sold 34,874 shares of the company’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $30.00, for a total transaction of $1,046,220.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Steven R. Markevich sold 900 shares of the company’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $29.42, for a total value of $26,478.00. Following the transaction, the executive vice president now directly owns 201,393 shares of the company’s stock, valued at $5,924,982.06. The disclosure for this sale can be found here. Insiders have sold 195,774 shares of company stock valued at $5,771,898 over the last ninety days.
Hedge funds have recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. acquired a new position in shares of Axalta Coating Systems during the second quarter worth about $108,000. Chicago Partners Investment Group LLC acquired a new position in shares of Axalta Coating Systems during the second quarter worth about $127,000. Commonwealth Bank of Australia boosted its position in shares of Axalta Coating Systems by 18.1% during the second quarter. Commonwealth Bank of Australia now owns 4,581 shares of the specialty chemicals company’s stock worth $146,000 after buying an additional 703 shares during the period. Acrospire Investment Management LLC boosted its position in shares of Axalta Coating Systems by 257.0% during the second quarter. Acrospire Investment Management LLC now owns 4,862 shares of the specialty chemicals company’s stock worth $156,000 after buying an additional 3,500 shares during the period. Finally, Advisor Group Inc. boosted its position in shares of Axalta Coating Systems by 217.3% during the second quarter. Advisor Group Inc. now owns 5,603 shares of the specialty chemicals company’s stock worth $179,000 after buying an additional 3,837 shares during the period.
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. The Company’s segments include Performance Coatings and Transportation Coatings. Through its Performance Coatings segment, the Company provides liquid and powder coatings solutions to a fragmented and local customer base.
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