FY2021 EPS Estimates for Axalta Coating Systems Ltd (AXTA) Lifted by Gabelli
Axalta Coating Systems Ltd (NYSE:AXTA) – Research analysts at Gabelli upped their FY2021 earnings estimates for shares of Axalta Coating Systems in a report issued on Friday. Gabelli analyst C. Jolly now anticipates that the specialty chemicals company will post earnings per share of $2.20 for the year, up from their prior forecast of $2.15.
A number of other equities analysts also recently issued reports on the company. UBS began coverage on Axalta Coating Systems in a research note on Tuesday. They issued a “market perform” rating on the stock. Raymond James Financial began coverage on Axalta Coating Systems in a research note on Tuesday. They issued a “market perform” rating on the stock. Zacks Investment Research upgraded Axalta Coating Systems from a “strong sell” rating to a “hold” rating in a research note on Monday, December 11th. Vertical Research downgraded Axalta Coating Systems from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a research note on Friday, December 1st. Finally, KeyCorp restated an “overweight” rating and issued a $40.00 price target (up from $36.00) on shares of Axalta Coating Systems in a research note on Tuesday, November 28th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $33.73.
Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings results on Thursday, October 26th. The specialty chemicals company reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.03. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the business posted $0.33 EPS.
In other Axalta Coating Systems news, EVP Steven R. Markevich sold 900 shares of the firm’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 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 legal filing with the SEC, which is available through this hyperlink. Also, SVP Michael F. Finn sold 3,950 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $32.66, for a total value of $129,007.00. Following the sale, the senior vice president now directly owns 108,818 shares in the company, valued at $3,553,995.88. The disclosure for this sale can be found here. Insiders have sold 39,724 shares of company stock worth $1,201,705 over the last quarter. 2.30% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the business. Country Trust Bank bought a new stake in Axalta Coating Systems during the third quarter valued at about $5,038,000. State Street Corp raised its holdings in Axalta Coating Systems by 11.2% during the second quarter. State Street Corp now owns 3,642,670 shares of the specialty chemicals company’s stock valued at $116,710,000 after acquiring an additional 365,915 shares during the period. Delta Lloyd Asset Management N.V. bought a new stake in Axalta Coating Systems during the second quarter valued at about $2,564,000. Principal Financial Group Inc. raised its holdings in Axalta Coating Systems by 1.0% during the third quarter. Principal Financial Group Inc. now owns 2,309,651 shares of the specialty chemicals company’s stock valued at $66,795,000 after acquiring an additional 22,515 shares during the period. Finally, State of Wisconsin Investment Board raised its holdings in Axalta Coating Systems by 31.9% during the third quarter. State of Wisconsin Investment Board now owns 532,080 shares of the specialty chemicals company’s stock valued at $15,388,000 after acquiring an additional 128,682 shares during the period. 99.22% of the stock is currently owned by institutional investors and hedge funds.
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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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