Axalta Coating Systems Ltd (AXTA) Expected to Announce Quarterly Sales of $1.18 Billion

Wall Street brokerages forecast that Axalta Coating Systems Ltd (NYSE:AXTA) will report $1.18 billion in sales for the current quarter, Zacks reports. Four analysts have provided estimates for Axalta Coating Systems’ earnings, with the lowest sales estimate coming in at $1.16 billion and the highest estimate coming in at $1.20 billion. Axalta Coating Systems reported sales of $1.17 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 0.9%. The business is expected to issue its next earnings report on Tuesday, February 5th.

According to Zacks, analysts expect that Axalta Coating Systems will report full year sales of $4.72 billion for the current fiscal year, with estimates ranging from $4.69 billion to $4.73 billion. For the next year, analysts forecast that the firm will post sales of $4.83 billion, with estimates ranging from $4.75 billion to $5.01 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Axalta Coating Systems.

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 the Zacks’ consensus estimate of $0.29 by $0.03. Axalta Coating Systems had a return on equity of 22.53% and a net margin of 1.49%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.16 billion.

A number of brokerages have weighed in on AXTA. Barclays lowered their price objective on Axalta Coating Systems from $32.00 to $30.00 and set an “equal weight” rating on the stock in a report on Friday, October 26th. Zacks Investment Research lowered Axalta Coating Systems from a “hold” rating to a “strong sell” rating in a report on Thursday, October 11th. KeyCorp lowered their price objective on Axalta Coating Systems from $36.00 to $31.00 and set an “overweight” rating on the stock in a report on Friday, October 26th. Seaport Global Securities raised Axalta Coating Systems from a “neutral” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Monday, October 29th. Finally, ValuEngine lowered Axalta Coating Systems from a “hold” rating to a “sell” rating in a report on Friday, November 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $31.40.

In other news, EVP Steven R. Markevich sold 16,197 shares of the business’s stock in a transaction that occurred on 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven R. Markevich sold 13,500 shares of the business’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $29.47, for a total value of $397,845.00. Following the sale, the executive vice president now directly owns 177,029 shares in the company, valued at approximately $5,217,044.63. The disclosure for this sale can be found here. 2.30% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the company. Moneta Group Investment Advisors LLC raised its position in shares of Axalta Coating Systems by 113.6% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 3,983 shares of the specialty chemicals company’s stock worth $121,000 after purchasing an additional 2,118 shares during the last quarter. First Quadrant L P CA acquired a new position in shares of Axalta Coating Systems during the 2nd quarter worth approximately $124,000. Chicago Partners Investment Group LLC raised its position in shares of Axalta Coating Systems by 78.1% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 4,106 shares of the specialty chemicals company’s stock worth $124,000 after purchasing an additional 1,800 shares during the last quarter. Captrust Financial Advisors raised its position in shares of Axalta Coating Systems by 120.7% during the 2nd quarter. Captrust Financial Advisors now owns 6,742 shares of the specialty chemicals company’s stock worth $204,000 after purchasing an additional 3,687 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in shares of Axalta Coating Systems during the 2nd quarter worth approximately $263,000. 99.83% of the stock is currently owned by institutional investors and hedge funds.

AXTA traded up $0.12 during trading on Monday, reaching $24.61. The company’s stock had a trading volume of 3,726,300 shares, compared to its average volume of 2,081,083. Axalta Coating Systems has a 52-week low of $23.65 and a 52-week high of $33.30. The firm has a market capitalization of $5.85 billion, a PE ratio of 20.68, a P/E/G ratio of 1.33 and a beta of 1.37. The company has a current ratio of 2.23, a quick ratio of 1.63 and a debt-to-equity ratio of 2.86.

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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