Shares of Axalta Coating Systems (NASDAQ:AXTA) have been assigned an average rating of “Buy” from the ten ratings firms that are currently covering the company, AnalystRatingsNetwork.com reports. Three research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $32.83.
Shares of Axalta Coating Systems (NASDAQ:AXTA) traded down 2.96% during midday trading on Monday, hitting $25.86. The stock had a trading volume of 405,464 shares. The firm has a market cap of $6.15 billion and a price-to-earnings ratio of 116.49. Axalta Coating Systems has a 12-month low of $23.94 and a 12-month high of $36.50. The company’s 50-day moving average price is $27.73 and its 200-day moving average price is $29.36.
Axalta Coating Systems (NASDAQ:AXTA) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. The company had revenue of $1,000 million for the quarter, compared to analyst estimates of $1.06 billion. The company’s revenue was down 9.9% on a year-over-year basis. Equities research analysts forecast that Axalta Coating Systems will post $1.08 EPS for the current year.
In other Axalta Coating Systems news, SVP Michael A. Cash sold 50,069 shares of the stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $28.00, for a total transaction of $1,401,932.00. Following the transaction, the senior vice president now owns 123,787 shares in the company, valued at approximately $3,466,036. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Andreas Kramvis sold 80,000 shares of the stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $26.99, for a total transaction of $2,159,200.00. Following the transaction, the director now owns 39,433 shares in the company, valued at approximately $1,064,296.67. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Axalta Coating Systems stock. Jennison Associates increased its stake in shares of Axalta Coating Systems (NASDAQ:AXTA) by 45.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,927,164 shares of the company’s stock after buying an additional 1,538,135 shares during the period. Jennison Associates owned approximately 2.07% of Axalta Coating Systems worth $124,854,000 as of its most recent filing with the SEC.
AXTA has been the subject of a number of research analyst reports. Jefferies Group set a $29.00 target price on Axalta Coating Systems in a report on Wednesday, September 23rd. RBC Capital restated a “buy” rating on shares of Axalta Coating Systems in a report on Tuesday, December 8th. Nomura restated a “buy” rating on shares of Axalta Coating Systems in a report on Monday, November 30th. Citigroup Inc. restated a “buy” rating on shares of Axalta Coating Systems in a report on Thursday, October 29th. Finally, JPMorgan Chase & Co. lowered Axalta Coating Systems from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $31.00 to $29.00 in a report on Thursday, October 29th. They noted that the move was a valuation call.
Axalta Coating Systems Ltd. is a manufacturer, marketer and distributor of coatings systems primarily serving the transportation industry. The Company operates in two business segments: Performance Coatings and Transportation Coatings. Through its Performance Coatings segment, the Company provides liquid and powder coatings solutions to a fragmented and local customer base. Through its Transportation Coatings segment, the Company provides advanced coating technologies to original equipment manufacturer (NASDAQ:AXTA) of light and commercial vehicles. Its products are offered in four key end-markets, including the refinish automotive aftermarket, industrial, light vehicle or automotive original equipment manufacturers (OEM) market, and commercial vehicle market. The Company’s products include liquid and powder coatings for motor vehicles OEMs, the motor vehicle aftermarket, and general industrial applications, such as coatings for heavy equipment, pipes, appliances and electrical insulation.