Axalta Coating Systems (NYSE:AXTA) – Seaport Global Securities lowered their Q2 2018 earnings estimates for Axalta Coating Systems in a report issued on Tuesday, April 17th. Seaport Global Securities analyst M. Harrison now forecasts that the specialty chemicals company will earn $0.36 per share for the quarter, down from their previous estimate of $0.38. Seaport Global Securities currently has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for Axalta Coating Systems’ Q3 2018 earnings at $0.36 EPS, Q4 2018 earnings at $0.40 EPS and Q4 2019 earnings at $0.45 EPS.
AXTA has been the subject of a number of other reports. BMO Capital Markets assumed coverage on Axalta Coating Systems in a research note on Tuesday, March 27th. They issued a “market perform” rating and a $33.00 price target for the company. Zacks Investment Research cut Axalta Coating Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Royal Bank of Canada reiterated a “buy” rating and issued a $35.00 price target on shares of Axalta Coating Systems in a research note on Thursday, February 8th. Nomura increased their price target on Axalta Coating Systems from $29.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Finally, TheStreet cut Axalta Coating Systems from a “b-” rating to a “c+” rating in a research note on Thursday, December 28th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $33.47.
Shares of AXTA opened at $32.17 on Thursday. Axalta Coating Systems has a 52 week low of $27.77 and a 52 week high of $38.20. The firm has a market capitalization of $7,914.56, a PE ratio of 27.04, a PEG ratio of 2.06 and a beta of 1.32. The company has a debt-to-equity ratio of 2.75, a current ratio of 2.14 and a quick ratio of 1.58.
Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings results on Tuesday, February 6th. The specialty chemicals company reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.05. Axalta Coating Systems had a return on equity of 20.91% and a net margin of 0.84%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the company earned ($0.16) EPS. Axalta Coating Systems’s revenue was up 13.5% compared to the same quarter last year.
In related news, VP Sean M. Lannon sold 1,080 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $30.77, for a total transaction of $33,231.60. Following the completion of the transaction, the vice president now directly owns 14,243 shares of the company’s stock, valued at approximately $438,257.11. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael F. Finn sold 1,889 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $30.56, for a total value of $57,727.84. Following the transaction, the senior vice president now directly owns 103,788 shares of the company’s stock, valued at $3,171,761.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 617,688 shares of company stock valued at $19,020,157. 2.30% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the business. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Axalta Coating Systems by 19.9% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,980,498 shares of the specialty chemicals company’s stock worth $225,889,000 after acquiring an additional 1,156,400 shares during the period. Wells Fargo & Company MN grew its holdings in Axalta Coating Systems by 75.1% during the 4th quarter. Wells Fargo & Company MN now owns 3,146,214 shares of the specialty chemicals company’s stock worth $101,811,000 after acquiring an additional 1,349,093 shares during the period. Parnassus Investments CA grew its holdings in Axalta Coating Systems by 29.7% during the 4th quarter. Parnassus Investments CA now owns 2,303,160 shares of the specialty chemicals company’s stock worth $74,530,000 after acquiring an additional 527,261 shares during the period. Confluence Investment Management LLC grew its holdings in Axalta Coating Systems by 146.1% during the 4th quarter. Confluence Investment Management LLC now owns 2,294,824 shares of the specialty chemicals company’s stock worth $74,261,000 after acquiring an additional 1,362,163 shares during the period. Finally, TIAA CREF Investment Management LLC grew its holdings in Axalta Coating Systems by 202.6% during the 4th quarter. TIAA CREF Investment Management LLC now owns 1,781,993 shares of the specialty chemicals company’s stock worth $57,665,000 after acquiring an additional 1,193,184 shares during the period.
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About Axalta Coating Systems
Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings primarily for the transportation industry. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers various specially-formulated water and solvent borne products and systems that are used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.
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