Axalta Coating Systems Ltd (NASDAQ:AXTA) – Analysts at Jefferies Group issued their Q3 2017 earnings estimates for shares of Axalta Coating Systems in a report released on Monday. Jefferies Group analyst L. Alexander forecasts that the specialty chemicals company will post earnings per share of $0.26 for the quarter. Jefferies Group currently has a “Buy” rating and a $34.00 price objective on the stock. Jefferies Group also issued estimates for Axalta Coating Systems’ Q4 2017 earnings at $0.37 EPS.
Axalta Coating Systems (NASDAQ:AXTA) last announced its quarterly earnings results on Thursday, August 3rd. The specialty chemicals company reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.08). The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Axalta Coating Systems had a negative return on equity of 6.61% and a negative net margin of 1.73%. Axalta Coating Systems’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the firm earned $0.34 earnings per share.
AXTA has been the subject of several other reports. BidaskClub lowered Axalta Coating Systems from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Susquehanna Bancshares Inc started coverage on Axalta Coating Systems in a research note on Tuesday, July 18th. They issued a “neutral” rating and a $37.00 price objective for the company. Barclays PLC reaffirmed an “equal weight” rating and issued a $33.00 price objective (down from $34.00) on shares of Axalta Coating Systems in a research note on Friday, August 4th. TheStreet lowered Axalta Coating Systems from a “b” rating to a “c” rating in a research note on Thursday, August 3rd. Finally, J P Morgan Chase & Co raised Axalta Coating Systems from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $29.00 to $31.00 in a research note on Friday, August 11th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $32.23.
Axalta Coating Systems (AXTA) opened at 28.76 on Wednesday. The stock has a market capitalization of $6.99 billion and a PE ratio of 2876.00. Axalta Coating Systems has a 52 week low of $24.27 and a 52 week high of $34.10. The firm has a 50-day moving average price of $29.23 and a 200-day moving average price of $31.03.
In other Axalta Coating Systems news, EVP Steven R. Markevich sold 160,000 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $29.37, for a total transaction of $4,699,200.00. Following the sale, the executive vice president now owns 280,377 shares of the company’s stock, valued at approximately $8,234,672.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Samuel L. Smolik bought 4,000 shares of the company’s stock in a transaction on Monday, August 7th. The shares were bought at an average cost of $28.16 per share, for a total transaction of $112,640.00. Following the transaction, the director now directly owns 4,000 shares in the company, valued at approximately $112,640. The disclosure for this purchase can be found here. Insiders have sold a total of 195,774 shares of company stock worth $5,771,898 in the last ninety days.
A number of hedge funds and other institutional investors have recently made changes to their positions in AXTA. BlackRock Inc. boosted its position in Axalta Coating Systems by 6,436.4% during the 1st quarter. BlackRock Inc. now owns 18,564,446 shares of the specialty chemicals company’s stock valued at $597,775,000 after acquiring an additional 18,280,429 shares in the last quarter. Bessemer Group Inc. boosted its position in Axalta Coating Systems by 554,273.3% during the 2nd quarter. Bessemer Group Inc. now owns 2,760,779 shares of the specialty chemicals company’s stock valued at $88,456,000 after acquiring an additional 2,760,281 shares in the last quarter. Janus Henderson Group PLC boosted its position in Axalta Coating Systems by 8,917.7% during the 2nd quarter. Janus Henderson Group PLC now owns 2,210,694 shares of the specialty chemicals company’s stock valued at $70,831,000 after acquiring an additional 2,186,179 shares in the last quarter. Voya Investment Management LLC boosted its position in Axalta Coating Systems by 2,384.0% during the 2nd quarter. Voya Investment Management LLC now owns 1,643,485 shares of the specialty chemicals company’s stock valued at $52,657,000 after acquiring an additional 1,577,323 shares in the last quarter. Finally, Gruss Capital Management LP bought a new stake in Axalta Coating Systems during the 2nd quarter valued at $31,079,000.
Axalta Coating Systems Company Profile
Axalta Coating Systems Ltd. is a holding company. The Company is a manufacturer, marketer and distributor of coatings systems primarily serving the transportation industry. The Company’s segments include 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.
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