Axalta Coating Systems Target of Unusually High Options Trading (AXTA)
Axalta Coating Systems Ltd. (NYSE:AXTA) was the target of unusually large options trading activity on Thursday. Stock investors purchased 19,188 call options on the stock. This represents an increase of approximately 2,536% compared to the typical daily volume of 728 call options.
Shares of Axalta Coating Systems (AXTA) opened at $36.21 on Friday. The firm has a market capitalization of $8,648.88, a PE ratio of 31.98, a price-to-earnings-growth ratio of 2.23 and a beta of 1.62. Axalta Coating Systems has a twelve month low of $24.72 and a twelve month high of $36.30. The company has a current ratio of 2.11, a quick ratio of 1.50 and a debt-to-equity ratio of 2.69.
Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings data on Thursday, October 26th. The specialty chemicals company reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.03. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Axalta Coating Systems had a return on equity of 19.91% and a net margin of 1.46%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.33 EPS. equities analysts anticipate that Axalta Coating Systems will post 1.15 earnings per share for the current fiscal year.
In related news, EVP Steven R. Markevich sold 160,000 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $29.37, for a total transaction of $4,699,200.00. Following the transaction, the executive vice president now owns 280,377 shares in the company, valued at approximately $8,234,672.49. The sale was disclosed in a filing with the SEC, which can be accessed 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 transaction of $26,478.00. Following the transaction, the executive vice president now owns 201,393 shares in the company, valued at approximately $5,924,982.06. The disclosure for this sale can be found here. In the last quarter, insiders have sold 195,774 shares of company stock worth $5,771,898. 2.30% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. Burgundy Asset Management Ltd. increased its stake in shares of Axalta Coating Systems by 6.0% in the 3rd quarter. Burgundy Asset Management Ltd. now owns 216,550 shares of the specialty chemicals company’s stock valued at $6,263,000 after acquiring an additional 12,319 shares during the last quarter. Jana Partners LLC bought a new stake in shares of Axalta Coating Systems in the 3rd quarter valued at about $21,996,000. Davis Selected Advisers increased its stake in shares of Axalta Coating Systems by 30.1% in the 3rd quarter. Davis Selected Advisers now owns 9,402,305 shares of the specialty chemicals company’s stock valued at $271,921,000 after acquiring an additional 2,173,915 shares during the last quarter. Yellowstone Partners LLC bought a new stake in shares of Axalta Coating Systems in the 3rd quarter valued at about $2,410,000. Finally, California Public Employees Retirement System increased its stake in shares of Axalta Coating Systems by 4.7% in the 3rd quarter. California Public Employees Retirement System now owns 343,935 shares of the specialty chemicals company’s stock valued at $9,947,000 after acquiring an additional 15,435 shares during the last quarter. 96.90% of the stock is owned by institutional investors.
Several research analysts recently issued reports on AXTA shares. Credit Suisse Group upped their price target on shares of Axalta Coating Systems from $33.00 to $37.00 and gave the stock an “outperform” rating in a research report on Monday, November 6th. BidaskClub cut Axalta Coating Systems from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 17th. Robert W. Baird reissued a “buy” rating and set a $35.00 price objective on shares of Axalta Coating Systems in a report on Monday, October 30th. UBS AG dropped their price objective on Axalta Coating Systems from $39.00 to $37.00 and set a “buy” rating for the company in a report on Friday, October 27th. Finally, Citigroup Inc. raised Axalta Coating Systems from a “sell” rating to a “hold” rating and set a $34.00 price objective for the company in a report on Monday, October 30th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $33.87.
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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.
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