Axalta Coating Systems Ltd. (NYSE:AXTA) EVP Steven R. Markevich sold 921 shares of Axalta Coating Systems stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $28.05, for a total value of $25,834.05. Following the transaction, the executive vice president now directly owns 191,609 shares of the company’s stock, valued at approximately $5,374,632.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Axalta Coating Systems Ltd. (NYSE:AXTA) opened at 28.07 on Wednesday. Axalta Coating Systems Ltd. has a 52 week low of $20.67 and a 52 week high of $30.45. The firm has a 50-day moving average price of $28.10 and a 200 day moving average price of $28.20. The stock has a market cap of $6.71 billion, a price-to-earnings ratio of 44.70 and a beta of 1.62.
Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by $0.01. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Axalta Coating Systems had a net margin of 3.76% and a return on equity of 20.89%. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 EPS. On average, analysts forecast that Axalta Coating Systems Ltd. will post $1.16 EPS for the current fiscal year.
A number of research firms have weighed in on AXTA. Seaport Global Securities raised Axalta Coating Systems from an “accumulate” rating to a “buy” rating and lifted their target price for the company from $34.00 to $36.00 in a report on Wednesday, July 27th. Morgan Stanley reaffirmed a “hold” rating on shares of Axalta Coating Systems in a report on Thursday, June 16th. Nomura reaffirmed a “buy” rating on shares of Axalta Coating Systems in a report on Tuesday, July 12th. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $34.00 target price on shares of Axalta Coating Systems in a report on Thursday, September 8th. Finally, Barclays PLC reaffirmed a “hold” rating on shares of Axalta Coating Systems in a report on Thursday, July 28th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $32.92.
Institutional investors have recently added to or reduced their stakes in the stock. Hermes Investment Management Ltd. purchased a new position in Axalta Coating Systems during the second quarter valued at $12,398,000. State Street Corp boosted its position in Axalta Coating Systems by 4.0% in the first quarter. State Street Corp now owns 2,244,670 shares of the company’s stock valued at $65,543,000 after buying an additional 85,743 shares in the last quarter. Aperio Group LLC purchased a new position in Axalta Coating Systems during the first quarter valued at $256,000. UBS Asset Management Americas Inc. boosted its position in Axalta Coating Systems by 1.3% in the first quarter. UBS Asset Management Americas Inc. now owns 273,742 shares of the company’s stock valued at $7,993,000 after buying an additional 3,530 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its position in Axalta Coating Systems by 5.7% in the first quarter. TIAA CREF Investment Management LLC now owns 254,922 shares of the company’s stock valued at $7,444,000 after buying an additional 13,796 shares in the last quarter. Institutional investors and hedge funds own 99.27% of the company’s stock.
About Axalta Coating Systems
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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