Zacks Investment Research cut shares of Axalta Coating Systems (NYSE:AXTA) from a hold rating to a sell rating in a research note published on Tuesday.

According to Zacks, “Axalta Coating Systems Ltd. is a global coatings company engaged in the manufacturing, marketing and distribution of coatings systems. The company offers waterborne and solvent borne coatings; liquid and powder coatings; and liquid coatings. It provides a range of performance and transportation coatings for manufacturers of light and commercial vehicles, the refinish aftermarket and for many industrial applications. The Company’s products and services include paint, color matching tools, application technologies and customer training, support and business management systems. Axalta Coating Systems Ltd. is headquartered in Philadelphia, Pennsylvania. “

AXTA has been the subject of a number of other reports. KeyCorp reaffirmed a buy rating and set a $36.00 target price on shares of Axalta Coating Systems in a report on Thursday, October 12th. Credit Suisse Group upped their target price on shares of Axalta Coating Systems from $33.00 to $37.00 and gave the company an outperform rating in a report on Monday, November 6th. Citigroup cut shares of Axalta Coating Systems from a neutral rating to a sell rating and reduced their target price for the company from $31.00 to $25.00 in a report on Tuesday, October 10th. Raymond James Financial assumed coverage on shares of Axalta Coating Systems in a report on Tuesday, December 19th. They set a market perform rating for the company. Finally, UBS Group reduced their target price on shares of Axalta Coating Systems from $39.00 to $37.00 and set a buy rating for the company in a report on Friday, October 27th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. Axalta Coating Systems currently has an average rating of Hold and an average target price of $33.73.

Axalta Coating Systems (NYSE:AXTA) traded down $0.36 on Tuesday, hitting $32.55. 1,277,833 shares of the stock traded hands, compared to its average volume of 1,853,829. The company has a debt-to-equity ratio of 2.69, a current ratio of 2.11 and a quick ratio of 1.50. Axalta Coating Systems has a 1 year low of $27.22 and a 1 year high of $38.20. The stock has a market capitalization of $7,930.00, a PE ratio of 112.24, a price-to-earnings-growth ratio of 1.73 and a beta of 1.55.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings data on Thursday, October 26th. The specialty chemicals company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.03. Axalta Coating Systems had a net margin of 1.46% and a return on equity of 19.91%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the company earned $0.33 earnings per share. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. equities analysts predict that Axalta Coating Systems will post 1.15 earnings per share for the current year.

In other Axalta Coating Systems news, SVP Michael F. Finn sold 3,950 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $32.66, for a total value of $129,007.00. Following the completion of the transaction, the senior vice president now directly owns 108,818 shares in the company, valued at $3,553,995.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the business. Financial Counselors Inc. boosted its position in shares of Axalta Coating Systems by 3.3% in the second quarter. Financial Counselors Inc. now owns 7,145 shares of the specialty chemicals company’s stock worth $229,000 after purchasing an additional 225 shares during the period. Commonwealth Bank of Australia boosted its position in shares of Axalta Coating Systems by 18.1% in the second quarter. Commonwealth Bank of Australia now owns 4,581 shares of the specialty chemicals company’s stock worth $146,000 after purchasing an additional 703 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Axalta Coating Systems by 14.4% during the second quarter. The Manufacturers Life Insurance Company now owns 9,070 shares of the specialty chemicals company’s stock worth $291,000 after acquiring an additional 1,141 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of Axalta Coating Systems by 24.6% during the second quarter. Prudential Financial Inc. now owns 8,110 shares of the specialty chemicals company’s stock worth $260,000 after acquiring an additional 1,600 shares during the last quarter. Finally, Norman Fields Gottscho Capital Management LLC boosted its position in shares of Axalta Coating Systems by 0.7% during the third quarter. Norman Fields Gottscho Capital Management LLC now owns 244,320 shares of the specialty chemicals company’s stock worth $7,066,000 after acquiring an additional 1,735 shares during the last quarter. Institutional investors and hedge funds own 99.21% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This piece was first published by Watch List News and is the property of of Watch List News. If you are reading this piece on another domain, it was copied illegally and reposted in violation of United States and international copyright & trademark law. The correct version of this piece can be accessed at https://www.watchlistnews.com/axalta-coating-systems-axta-rating-lowered-to-sell-at-zacks-investment-research/1802002.html.

Axalta Coating Systems Company Profile

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.

Get a free copy of the Zacks research report on Axalta Coating Systems (AXTA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Axalta Coating Systems (NYSE:AXTA)

Receive News & Ratings for Axalta Coating Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axalta Coating Systems and related companies with MarketBeat.com's FREE daily email newsletter.