Axalta Coating Systems Ltd (NASDAQ:AXTA) had its price target increased by Royal Bank of Canada from $33.00 to $35.00 in a research report sent to investors on Wednesday. Royal Bank of Canada currently has an outperform rating on the stock.
AXTA has been the topic of several other reports. Zacks Investment Research raised Axalta Coating Systems from a hold rating to a buy rating and set a $32.00 target price on the stock in a research report on Tuesday, January 17th. Gabelli lowered Axalta Coating Systems from a buy rating to a hold rating in a research report on Thursday, February 9th. Evercore ISI initiated coverage on Axalta Coating Systems in a research report on Monday, February 13th. They set a buy rating and a $34.00 target price on the stock. Instinet upped their target price on Axalta Coating Systems from $31.00 to $33.00 and gave the company a buy rating in a research report on Thursday, February 9th. Finally, Vertical Group lowered Axalta Coating Systems from a buy rating to a hold rating in a research report on Friday, December 2nd. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Axalta Coating Systems presently has a consensus rating of Hold and an average target price of $33.14.
Shares of Axalta Coating Systems (NASDAQ:AXTA) opened at 32.61 on Wednesday. The company has a market cap of $7.87 billion and a P/E ratio of 191.82. Axalta Coating Systems has a 52 week low of $24.27 and a 52 week high of $33.06. The company’s 50-day moving average price is $29.86 and its 200 day moving average price is $27.75.
Axalta Coating Systems (NASDAQ:AXTA) last announced its earnings results on Wednesday, February 8th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by $0.01. The company earned $1.03 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the company earned $0.24 earnings per share. Axalta Coating Systems’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities research analysts anticipate that Axalta Coating Systems will post $1.39 earnings per share for the current fiscal year.
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In other news, EVP Steven R. Markevich sold 108,558 shares of the stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $31.13, for a total value of $3,379,410.54. Following the transaction, the executive vice president now directly owns 341,725 shares of the company’s stock, valued at $10,637,899.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert W. Bryant sold 48,882 shares of the stock in a transaction dated Thursday, January 12th. The shares were sold at an average price of $28.00, for a total value of $1,368,696.00. Following the completion of the transaction, the chief financial officer now directly owns 267,138 shares in the company, valued at $7,479,864. The disclosure for this sale can be found here. Insiders sold 298,597 shares of company stock worth $8,891,178 over the last three months.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Comerica Bank purchased a new position in shares of Axalta Coating Systems during the fourth quarter worth $218,000. GLG LLC raised its position in shares of Axalta Coating Systems by 6.8% in the fourth quarter. GLG LLC now owns 10,145 shares of the company’s stock worth $276,000 after buying an additional 645 shares in the last quarter. Janus Capital Management LLC raised its position in shares of Axalta Coating Systems by 43.9% in the fourth quarter. Janus Capital Management LLC now owns 10,793 shares of the company’s stock worth $294,000 after buying an additional 3,293 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Axalta Coating Systems during the fourth quarter worth $312,000. Finally, Gabelli Funds LLC raised its position in shares of Axalta Coating Systems by 9.1% in the fourth quarter. Gabelli Funds LLC now owns 12,000 shares of the company’s stock worth $326,000 after buying an additional 1,000 shares in the last quarter.
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. Its segments include Performance Coatings and Transportation Coatings. The Company, through its Performance Coatings segment, provides liquid and powder coatings solutions to a fragmented and local customer base.
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