Axalta Coating Systems Ltd (NASDAQ:AXTA) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Friday.

AXTA has been the subject of a number of other research reports. Jefferies Group LLC reaffirmed a “buy” rating on shares of Axalta Coating Systems in a research report on Thursday, July 6th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $36.00 target price on shares of Axalta Coating Systems in a research report on Thursday, July 6th. Bank of America Corporation cut Axalta Coating Systems from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $36.00 to $30.00 in a research report on Wednesday, June 21st. TheStreet cut Axalta Coating Systems from a “b” rating to a “c” rating in a research report on Thursday, August 3rd. Finally, Zacks Investment Research cut Axalta Coating Systems from a “buy” rating to a “sell” rating in a research report on Monday, August 7th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $33.08.

Axalta Coating Systems (NASDAQ:AXTA) opened at 30.53 on Friday. Axalta Coating Systems has a 52-week low of $24.27 and a 52-week high of $34.10. The stock’s 50 day moving average is $29.23 and its 200-day moving average is $31.06. The firm has a market capitalization of $7.42 billion and a PE ratio of 3053.00.

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). The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.12 billion. Axalta Coating Systems had a negative return on equity of 6.61% and a negative net margin of 1.73%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.34 EPS. Equities analysts expect that Axalta Coating Systems will post $1.30 earnings per share for the current year.

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In other news, EVP Steven R. Markevich sold 900 shares of the stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $29.42, for a total value of $26,478.00. Following the completion of the sale, the executive vice president now directly owns 201,393 shares of the company’s stock, valued at $5,924,982.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Steven R. Markevich sold 160,000 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $29.37, for a total value of $4,699,200.00. Following the completion of the sale, the executive vice president now directly owns 280,377 shares of the company’s stock, valued at $8,234,672.49. The disclosure for this sale can be found here. Insiders sold 200,774 shares of company stock valued at $5,936,898 over the last three months.

Hedge funds have recently modified their holdings of the stock. Delta Lloyd Asset Management N.V. bought a new position in Axalta Coating Systems in the second quarter worth $2,564,000. Federated Investors Inc. PA bought a new position in Axalta Coating Systems in the second quarter worth $2,379,000. Engineers Gate Manager LP lifted its position in Axalta Coating Systems by 46.7% in the second quarter. Engineers Gate Manager LP now owns 94,895 shares of the specialty chemicals company’s stock worth $3,040,000 after purchasing an additional 30,208 shares during the period. Legal & General Group Plc lifted its position in Axalta Coating Systems by 19.2% in the second quarter. Legal & General Group Plc now owns 270,265 shares of the specialty chemicals company’s stock worth $8,660,000 after purchasing an additional 43,481 shares during the period. Finally, Davis Selected Advisers lifted its position in Axalta Coating Systems by 7.9% in the second quarter. Davis Selected Advisers now owns 7,228,390 shares of the specialty chemicals company’s stock worth $231,598,000 after purchasing an additional 528,794 shares during the period.

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.

Analyst Recommendations for Axalta Coating Systems (NASDAQ:AXTA)

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