Axalta Coating Systems Ltd (AXTA) Price Target Raised to $35.00

Axalta Coating Systems Ltd (NASDAQ:AXTA) had its price target hoisted by Royal Bank of Canada from $33.00 to $35.00 in a research report released on Wednesday. Royal Bank of Canada currently has an outperform rating on the stock.

AXTA has been the subject of a number of other reports. Zacks Investment Research upgraded Axalta Coating Systems from a hold rating to a buy rating and set a $32.00 price target for the company 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 started coverage on Axalta Coating Systems in a research report on Monday, February 13th. They issued a buy rating and a $34.00 price target for the company. Instinet upped their price target 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’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $33.14.

Analyst Recommendations for Axalta Coating Systems (NASDAQ:AXTA)

Axalta Coating Systems (NASDAQ:AXTA) opened at 32.10 on Wednesday. The stock has a market capitalization of $7.75 billion and a P/E ratio of 188.82. Axalta Coating Systems has a 12-month low of $24.27 and a 12-month high of $33.06. The firm’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 posted its quarterly earnings results on Wednesday, February 8th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by $0.01. The firm earned $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. Axalta Coating Systems’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.24 EPS. On average, equities analysts anticipate that Axalta Coating Systems will post $1.39 EPS for the current year.

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In related news, VP Sean M. Lannon sold 993 shares of the company’s stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $29.53, for a total value of $29,323.29. Following the transaction, the vice president now directly owns 3,799 shares in the company, valued at $112,184.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Sean M. Lannon sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $32.50, for a total value of $162,500.00. Following the completion of the transaction, the vice president now owns 7,806 shares in the company, valued at $253,695. The disclosure for this sale can be found here. Insiders sold 298,597 shares of company stock worth $8,891,178 over the last quarter.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank acquired a new position in Axalta Coating Systems during the fourth quarter worth approximately $218,000. GLG LLC boosted its position in 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 boosted its position in 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. acquired a new position in Axalta Coating Systems during the fourth quarter worth approximately $312,000. Finally, Gabelli Funds LLC boosted its position in 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.

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.

5 Day Chart for NASDAQ:AXTA

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