Axalta Coating Systems (AXTA) Cut to Sell at ValuEngine

ValuEngine cut shares of Axalta Coating Systems (NYSE:AXTA) from a hold rating to a sell rating in a research report released on Friday morning.

Other research analysts have also issued reports about the stock. Seaport Global Securities raised shares of Axalta Coating Systems from a neutral rating to a buy rating and set a $31.00 price target on the stock in a research report on Monday, October 29th. Barclays dropped their price target on shares of Axalta Coating Systems from $32.00 to $30.00 and set an equal weight rating on the stock in a research report on Friday, October 26th. BMO Capital Markets dropped their price target on shares of Axalta Coating Systems from $34.00 to $28.00 and set a hold rating on the stock in a research report on Friday, October 26th. Zacks Investment Research raised shares of Axalta Coating Systems from a sell rating to a hold rating in a research report on Monday, July 30th. Finally, Nomura dropped their price target on shares of Axalta Coating Systems from $34.00 to $29.00 and set a neutral rating on the stock in a research report on Monday, October 15th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $31.36.

Axalta Coating Systems stock opened at $24.39 on Friday. Axalta Coating Systems has a 1-year low of $23.65 and a 1-year high of $38.20. The firm has a market capitalization of $5.87 billion, a price-to-earnings ratio of 20.56, a price-to-earnings-growth ratio of 1.34 and a beta of 1.37. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.63 and a current ratio of 2.23.

Axalta Coating Systems (NYSE:AXTA) last released 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 firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.16 billion. Equities research analysts predict that Axalta Coating Systems will post 1.26 EPS for the current year.

In related news, Director Charles W. Shaver sold 250,000 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $29.73, for a total transaction of $7,432,500.00. Following the completion of the sale, the director now owns 690,828 shares in the company, valued at $20,538,316.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Steven R. Markevich sold 16,197 shares of the firm’s stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $29.17, for a total transaction of $472,466.49. Following the sale, the executive vice president now owns 161,697 shares of the company’s stock, valued at approximately $4,716,701.49. The disclosure for this sale can be found here. Insiders have sold 289,677 shares of company stock worth $8,602,241 over the last three months. 2.10% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of AXTA. Moneta Group Investment Advisors LLC increased its holdings in Axalta Coating Systems by 113.6% during the second quarter. Moneta Group Investment Advisors LLC now owns 3,983 shares of the specialty chemicals company’s stock worth $121,000 after buying an additional 2,118 shares during the last quarter. Chicago Partners Investment Group LLC increased its holdings in Axalta Coating Systems by 78.1% during the second quarter. Chicago Partners Investment Group LLC now owns 4,106 shares of the specialty chemicals company’s stock worth $124,000 after buying an additional 1,800 shares during the last quarter. First Quadrant L P CA purchased a new stake in Axalta Coating Systems during the second quarter worth about $124,000. Captrust Financial Advisors increased its holdings in Axalta Coating Systems by 120.7% during the second quarter. Captrust Financial Advisors now owns 6,742 shares of the specialty chemicals company’s stock worth $204,000 after buying an additional 3,687 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in Axalta Coating Systems during the second quarter worth about $263,000.

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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