Investment Analysts’ Weekly Ratings Updates for Axalta Coating Systems (AXTA)

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A number of firms have modified their ratings and price targets on shares of Axalta Coating Systems (NYSE: AXTA) recently:

  • 10/29/2018 – Axalta Coating Systems was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Axalta Coating Systems Ltd. is a global coatings company engaged in the manufacturing, marketing and distribution of coatings systems. The company offers waterborne and solvent borne coatings; liquid and powder coatings; and liquid coatings. It provides a range of performance and transportation coatings for manufacturers of light and commercial vehicles, the refinish aftermarket and for many industrial applications. The Company’s products and services include paint, color matching tools, application technologies and customer training, support and business management systems. Axalta Coating Systems Ltd. is headquartered in Philadelphia, Pennsylvania. “
  • 10/29/2018 – Axalta Coating Systems was upgraded by analysts at Seaport Global Securities from a “neutral” rating to a “buy” rating. They now have a $31.00 price target on the stock.
  • 10/26/2018 – Axalta Coating Systems had its price target lowered by analysts at KeyCorp from $36.00 to $31.00. They now have an “overweight” rating on the stock.
  • 10/26/2018 – Axalta Coating Systems had its price target lowered by analysts at Nomura from $29.00 to $28.00. They now have a “neutral” rating on the stock.
  • 10/26/2018 – Axalta Coating Systems had its price target lowered by analysts at BMO Capital Markets from $34.00 to $28.00. They now have a “hold” rating on the stock.
  • 10/26/2018 – Axalta Coating Systems had its price target lowered by analysts at Barclays PLC from $32.00 to $30.00. They now have an “equal weight” rating on the stock.
  • 10/15/2018 – Axalta Coating Systems had its price target lowered by analysts at Nomura from $34.00 to $29.00. They now have a “neutral” rating on the stock.
  • 10/11/2018 – Axalta Coating Systems was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. According to Zacks, “Axalta Coating Systems Ltd. is a global coatings company engaged in the manufacturing, marketing and distribution of coatings systems. The company offers waterborne and solvent borne coatings; liquid and powder coatings; and liquid coatings. It provides a range of performance and transportation coatings for manufacturers of light and commercial vehicles, the refinish aftermarket and for many industrial applications. The Company’s products and services include paint, color matching tools, application technologies and customer training, support and business management systems. Axalta Coating Systems Ltd. is headquartered in Philadelphia, Pennsylvania. “
  • 10/11/2018 – Axalta Coating Systems had its price target lowered by analysts at Citigroup Inc from $33.00 to $28.00. They now have a “neutral” rating on the stock.
  • 10/1/2018 – Axalta Coating Systems was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Axalta Coating Systems Ltd. is a global coatings company engaged in the manufacturing, marketing and distribution of coatings systems. The company offers waterborne and solvent borne coatings; liquid and powder coatings; and liquid coatings. It provides a range of performance and transportation coatings for manufacturers of light and commercial vehicles, the refinish aftermarket and for many industrial applications. The Company’s products and services include paint, color matching tools, application technologies and customer training, support and business management systems. Axalta Coating Systems Ltd. is headquartered in Philadelphia, Pennsylvania. “

Shares of NYSE:AXTA traded up $0.57 during trading on Wednesday, reaching $25.93. 131,083 shares of the company’s stock traded hands, compared to its average volume of 3,326,514. The company has a quick ratio of 1.63, a current ratio of 2.23 and a debt-to-equity ratio of 2.86. Axalta Coating Systems Ltd has a 12 month low of $23.65 and a 12 month high of $38.20. The company has a market cap of $6.03 billion, a PE ratio of 21.79, a P/E/G ratio of 1.38 and a beta of 1.37.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings data on Thursday, October 25th. The specialty chemicals company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. Axalta Coating Systems had a net margin of 1.49% and a return on equity of 22.53%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.16 billion. As a group, research analysts forecast that Axalta Coating Systems Ltd will post 1.26 EPS for the current fiscal year.

In other news, Director Charles W. Shaver sold 250,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $29.73, for a total value of $7,432,500.00. Following the completion of the sale, the director now directly owns 690,828 shares of the company’s stock, valued at approximately $20,538,316.44. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Sean M. Lannon sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $30.02, for a total transaction of $45,030.00. Following the completion of the sale, the vice president now directly owns 18,856 shares of the company’s stock, valued at $566,057.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 340,471 shares of company stock valued at $10,119,458. Insiders own 2.10% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA raised its stake in Axalta Coating Systems by 40.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,860,207 shares of the specialty chemicals company’s stock worth $141,724,000 after acquiring an additional 1,390,710 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Axalta Coating Systems by 32.4% in the third quarter. Bessemer Group Inc. now owns 4,498,794 shares of the specialty chemicals company’s stock worth $131,183,000 after buying an additional 1,100,838 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Axalta Coating Systems by 591.9% in the second quarter. Renaissance Technologies LLC now owns 1,240,597 shares of the specialty chemicals company’s stock worth $37,602,000 after buying an additional 1,061,297 shares during the period. Millennium Management LLC raised its holdings in shares of Axalta Coating Systems by 30.1% in the second quarter. Millennium Management LLC now owns 3,736,910 shares of the specialty chemicals company’s stock worth $113,266,000 after buying an additional 863,979 shares during the period. Finally, Parnassus Investments CA raised its holdings in shares of Axalta Coating Systems by 32.5% in the second quarter. Parnassus Investments CA now owns 3,509,561 shares of the specialty chemicals company’s stock worth $106,375,000 after buying an additional 860,061 shares during the period.

Axalta Coating Systems Ltd. manufactures, markets, and distributes coatings systems. It operates through the following segments: Performance Coatings and Transportation Coatings. The Performance Coatings segment provides liquid and powder coatings solutions to a fragmented and local customer base. The Transportation Coatings segment offers advanced coatings technologies to original equipment manufacturers of light and commercial vehicles.

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