Royal Bank Of Canada reaffirmed their buy rating on shares of Axalta Coating Systems Ltd (NASDAQ:AXTA) in a report released on Wednesday. They currently have a $34.00 price objective on the specialty chemicals company’s stock.

Several other analysts also recently issued reports on the stock. Bank of America Corporation downgraded shares of Axalta Coating Systems from a buy rating to an underperform rating and reduced their price target for the company from $36.00 to $30.00 in a research report on Wednesday, June 21st. Nomura downgraded shares of Axalta Coating Systems from a buy rating to a neutral rating and set a $33.00 price target for the company. in a research report on Friday, April 21st. Citigroup Inc. reissued a neutral rating and issued a $33.00 price target (up previously from $30.00) on shares of Axalta Coating Systems in a research report on Friday, April 14th. Instinet downgraded shares of Axalta Coating Systems from a buy rating to a neutral rating and set a $33.00 price target for the company. in a research report on Friday, April 21st. Finally, Zacks Investment Research raised shares of Axalta Coating Systems from a hold rating to a buy rating and set a $35.00 price target for the company in a research report on Tuesday, April 11th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $33.63.

Shares of Axalta Coating Systems (NASDAQ AXTA) traded up 1.95% during mid-day trading on Wednesday, hitting $28.73. 5,070,234 shares of the stock were exchanged. The stock has a market capitalization of $6.99 billion and a P/E ratio of 2873.00. Axalta Coating Systems has a 12-month low of $24.27 and a 12-month high of $34.10. The stock’s 50 day moving average price is $31.60 and its 200-day moving average price is $31.25.

Axalta Coating Systems (NASDAQ:AXTA) last posted its quarterly earnings results on Thursday, August 3rd. The specialty chemicals company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by $0.08. Axalta Coating Systems had a net margin of 6.50% and a return on equity of 21.46%. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the business posted $0.34 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, equities research analysts expect that Axalta Coating Systems will post $1.31 EPS for the current fiscal year.

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In other news, VP Sean M. Lannon sold 5,000 shares of Axalta Coating Systems stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $33.00, for a total transaction of $165,000.00. Following the sale, the vice president now directly owns 16,286 shares in the company, valued at approximately $537,438. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Samuel L. Smolik bought 4,000 shares of the stock in a transaction dated Monday, August 7th. The shares were acquired at an average price of $28.16 per share, for a total transaction of $112,640.00. Following the completion of the purchase, the director now directly owns 4,000 shares in the company, valued at $112,640. The disclosure for this purchase can be found here. Insiders have sold a total of 438,289 shares of company stock worth $13,876,363 over the last quarter.

A number of large investors have recently made changes to their positions in AXTA. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Axalta Coating Systems during the second quarter worth about $108,000. Chicago Partners Investment Group LLC purchased a new stake in shares of Axalta Coating Systems during the second quarter worth about $127,000. Commonwealth Bank of Australia boosted its stake 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 buying an additional 703 shares in the last quarter. Acrospire Investment Management LLC boosted its stake in shares of Axalta Coating Systems by 257.0% in 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 in the last quarter. Finally, Advisor Group Inc. boosted its stake in shares of Axalta Coating Systems by 217.3% in 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 in the last quarter.

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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