Axalta Coating Systems’ (AXTA) Buy Rating Reaffirmed at Royal Bank Of Canada
Royal Bank Of Canada reissued their buy rating on shares of Axalta Coating Systems Ltd (NASDAQ:AXTA) in a research report released on Monday. Royal Bank Of Canada currently has a $37.00 target price on the specialty chemicals company’s stock. The analysts noted that the move was a valuation call.
Several other research analysts have also recently weighed in on the company. BidaskClub cut Axalta Coating Systems from a sell rating to a strong sell rating in a research note on Tuesday, October 17th. KeyCorp reaffirmed a buy rating and set a $36.00 target price on shares of Axalta Coating Systems in a research note on Thursday, October 12th. Jefferies Group LLC reaffirmed a buy rating on shares of Axalta Coating Systems in a research note on Thursday, July 6th. Nomura raised Axalta Coating Systems to a buy rating and decreased their target price for the company from $30.00 to $28.00 in a research note on Tuesday, October 10th. Finally, Citigroup Inc. cut Axalta Coating Systems from a neutral rating to a sell rating and decreased their target price for the company from $31.00 to $25.00 in a research note on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $33.60.
Axalta Coating Systems (NASDAQ AXTA) traded up 1.773% during trading on Monday, reaching $33.005. 3,483,409 shares of the company were exchanged. The stock has a market capitalization of $8.03 billion and a PE ratio of 3300.500. Axalta Coating Systems has a 52-week low of $24.44 and a 52-week high of $34.47. The firm’s 50 day moving average is $29.27 and its 200 day moving average is $30.80.
Axalta Coating Systems (NASDAQ:AXTA) last announced its earnings results on Thursday, October 26th. The specialty chemicals company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.03. Axalta Coating Systems had a negative return on equity of 6.61% and a negative net margin of 1.73%. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter last year, the business posted $0.33 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. Analysts expect that Axalta Coating Systems will post $1.14 EPS for the current year.
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In other news, Director Samuel L. Smolik purchased 4,000 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was bought at an average cost of $28.16 per share, with a total value of $112,640.00. Following the purchase, the director now directly owns 4,000 shares of the company’s stock, valued at $112,640. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 value 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 disclosure for this sale can be found here. Over the last three months, insiders sold 195,774 shares of company stock valued at $5,771,898.
Several institutional investors and hedge funds have recently bought and sold shares of AXTA. Bessemer Group Inc. raised its stake in shares of Axalta Coating Systems by 554,273.3% during the 2nd quarter. Bessemer Group Inc. now owns 2,760,779 shares of the specialty chemicals company’s stock worth $88,456,000 after purchasing an additional 2,760,281 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Axalta Coating Systems by 8,917.7% during the 2nd quarter. Janus Henderson Group PLC now owns 2,210,694 shares of the specialty chemicals company’s stock worth $70,831,000 after purchasing an additional 2,186,179 shares in the last quarter. Voya Investment Management LLC raised its stake in shares of Axalta Coating Systems by 2,384.0% during the 2nd quarter. Voya Investment Management LLC now owns 1,643,485 shares of the specialty chemicals company’s stock worth $52,657,000 after purchasing an additional 1,577,323 shares in the last quarter. Gruss Capital Management LP purchased a new stake in shares of Axalta Coating Systems during the 2nd quarter worth about $31,079,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Axalta Coating Systems by 62.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,347,838 shares of the specialty chemicals company’s stock worth $75,225,000 after purchasing an additional 898,678 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.
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