Brokerages Set Axalta Coating Systems Ltd (AXTA) Price Target at $33.21
Axalta Coating Systems Ltd (NASDAQ:AXTA) has been given a consensus recommendation of “Hold” by the nineteen brokerages that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $33.21.
Several analysts recently commented on the company. BidaskClub raised Axalta Coating Systems from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. UBS AG reaffirmed a “buy” rating and set a $39.00 target price (up from $37.00) on shares of Axalta Coating Systems in a report on Tuesday, June 6th. Citigroup Inc. dropped their target price on Axalta Coating Systems from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Monday, August 7th. Royal Bank Of Canada reissued a “buy” rating and issued a $36.00 price objective on shares of Axalta Coating Systems in a report on Thursday, July 6th. Finally, Jefferies Group LLC reissued a “buy” rating on shares of Axalta Coating Systems in a report on Thursday, July 6th.
Axalta Coating Systems (NASDAQ AXTA) traded down 1.32% during midday trading on Tuesday, reaching $29.14. 1,330,163 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $30.83 and its 200-day moving average price is $31.24. The stock has a market cap of $7.09 billion and a PE ratio of 2914.00. Axalta Coating Systems has a one year low of $24.27 and a one year high of $34.10.
Axalta Coating Systems (NASDAQ:AXTA) last posted its earnings results on Thursday, August 3rd. The specialty chemicals company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.39 by $0.08. The company had revenue of $1.09 billion for 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 firm’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the business earned $0.34 earnings per share. Equities analysts predict that Axalta Coating Systems will post $1.31 earnings per share for the current year.
In other news, Director Samuel L. Smolik bought 4,000 shares of the firm’s 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 transaction, the director now directly owns 4,000 shares in the company, valued at approximately $112,640. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Sean M. Lannon sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $33.00, for a total value of $165,000.00. Following the completion of the transaction, the vice president now owns 16,286 shares in the company, valued at approximately $537,438. The disclosure for this sale can be found here. In the last 90 days, insiders sold 164,500 shares of company stock worth $5,294,085.
Institutional investors have recently added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. purchased a new position in Axalta Coating Systems during the second quarter valued at $108,000. Chicago Partners Investment Group LLC purchased a new position in Axalta Coating Systems during the second quarter valued at $127,000. Commonwealth Bank of Australia increased its position in 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 valued at $146,000 after buying an additional 703 shares during the period. Acrospire Investment Management LLC increased its position in 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 valued at $156,000 after buying an additional 3,500 shares during the period. Finally, Advisor Group Inc. increased its position in 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 valued at $179,000 after buying an additional 3,837 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.
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