Axalta Coating Systems (AXTA) PT Lowered to $28.00 at Nomura

Axalta Coating Systems (NYSE:AXTA) had its price objective lowered by stock analysts at Nomura from $29.00 to $28.00 in a research report issued to clients and investors on Friday. The brokerage presently has a “neutral” rating on the specialty chemicals company’s stock. Nomura’s target price indicates a potential upside of 14.29% from the stock’s previous close.

AXTA has been the subject of a number of other research reports. Citigroup cut their price target on shares of Axalta Coating Systems from $33.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, October 11th. JPMorgan Chase & Co. raised shares of Axalta Coating Systems from a “neutral” rating to an “overweight” rating and set a $33.00 price target for the company in a report on Friday, July 27th. Zacks Investment Research raised shares of Axalta Coating Systems from a “sell” rating to a “hold” rating in a report on Monday, July 30th. Barclays reaffirmed a “hold” rating and set a $32.00 price target on shares of Axalta Coating Systems in a report on Tuesday, July 31st. Finally, KeyCorp cut their price target on shares of Axalta Coating Systems from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Friday, July 27th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. Axalta Coating Systems has a consensus rating of “Hold” and an average target price of $32.17.

NYSE:AXTA traded down $0.36 on Friday, hitting $24.50. 202,967 shares of the company’s stock were exchanged, compared to its average volume of 2,061,330. The company has a debt-to-equity ratio of 2.73, a current ratio of 2.27 and a quick ratio of 1.67. The stock has a market capitalization of $6.06 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 1.37 and a beta of 1.26. Axalta Coating Systems has a 52 week low of $23.65 and a 52 week high of $38.20.



Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings data on Thursday, October 25th. The specialty chemicals company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.03. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.16 billion. Axalta Coating Systems had a net margin of 2.97% and a return on equity of 21.32%. On average, analysts anticipate that Axalta Coating Systems will post 1.27 earnings per share for the current fiscal year.

In other Axalta Coating Systems news, EVP Steven R. Markevich sold 16,197 shares of the company’s stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $29.17, for a total value of $472,466.49. Following the completion of the transaction, the executive vice president now directly owns 161,697 shares in the company, valued at approximately $4,716,701.49. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert M. Mclaughlin sold 4,920 shares of the company’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $30.33, for a total transaction of $149,223.60. Following the completion of the transaction, the director now owns 39,442 shares of the company’s stock, valued at $1,196,275.86. The disclosure for this sale can be found here. In the last three months, insiders sold 345,391 shares of company stock valued at $10,268,682. 2.10% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in Axalta Coating Systems by 5.0% in the second quarter. BlackRock Inc. now owns 11,018,312 shares of the specialty chemicals company’s stock worth $333,966,000 after purchasing an additional 527,527 shares during the period. Massachusetts Financial Services Co. MA increased its holdings 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 buying an additional 1,390,710 shares during the last quarter. Artisan Partners Limited Partnership increased its holdings in Axalta Coating Systems by 0.6% during the second quarter. Artisan Partners Limited Partnership now owns 4,092,929 shares of the specialty chemicals company’s stock worth $124,057,000 after buying an additional 23,544 shares during the last quarter. Millennium Management LLC increased its holdings in Axalta Coating Systems by 30.1% during 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 last quarter. Finally, FMR LLC increased its holdings in Axalta Coating Systems by 8.1% during the second quarter. FMR LLC now owns 3,723,288 shares of the specialty chemicals company’s stock worth $112,853,000 after buying an additional 279,374 shares during the last quarter.

Axalta Coating Systems Company Profile

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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Analyst Recommendations for Axalta Coating Systems (NYSE:AXTA)

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