Axalta Coating Systems (AXTA) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Axalta Coating Systems (NYSE:AXTA) from a sell rating to a hold rating in a research report released on Wednesday morning.

According to Zacks, “Axalta Coating Systems Ltd. is a global coatings company engaged in the manufacturing, marketing and distribution of coatings systems. The company offers waterborne and solvent borne coatings; liquid and powder coatings; and liquid coatings. It provides a range of performance and transportation coatings for manufacturers of light and commercial vehicles, the refinish aftermarket and for many industrial applications. The Company’s products and services include paint, color matching tools, application technologies and customer training, support and business management systems. Axalta Coating Systems Ltd. is headquartered in Philadelphia, Pennsylvania. “

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Other equities analysts have also issued reports about the stock. Nomura upped their price objective on shares of Axalta Coating Systems from $29.00 to $31.00 and gave the stock a neutral rating in a report on Thursday, February 8th. BMO Capital Markets assumed coverage on shares of Axalta Coating Systems in a report on Tuesday, March 27th. They issued a market perform rating and a $33.00 price objective on the stock. Credit Suisse Group upped their price objective on shares of Axalta Coating Systems from $34.00 to $35.00 and gave the stock an outperform rating in a report on Wednesday, February 7th. UBS assumed coverage on shares of Axalta Coating Systems in a report on Tuesday, December 19th. They issued a market perform rating on the stock. Finally, Royal Bank of Canada restated a buy rating and issued a $35.00 price objective on shares of Axalta Coating Systems in a report on Thursday, February 8th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. The company has a consensus rating of Hold and an average target price of $33.47.

Shares of AXTA stock opened at $32.47 on Wednesday. The company has a current ratio of 2.14, a quick ratio of 1.58 and a debt-to-equity ratio of 2.75. Axalta Coating Systems has a one year low of $27.77 and a one year high of $38.20. The company has a market capitalization of $7,738.95, a PE ratio of 27.29, a P/E/G ratio of 2.02 and a beta of 1.32.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings data on Tuesday, February 6th. The specialty chemicals company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.32 by $0.05. Axalta Coating Systems had a net margin of 0.84% and a return on equity of 20.91%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the business posted ($0.16) EPS. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. equities analysts expect that Axalta Coating Systems will post 1.33 earnings per share for the current year.

In other Axalta Coating Systems news, EVP Steven R. Markevich sold 82,838 shares of the stock in a transaction that occurred on Monday, March 19th. The shares were sold at an average price of $30.61, for a total transaction of $2,535,671.18. Following the sale, the executive vice president now directly owns 323,875 shares in the company, valued at approximately $9,913,813.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Michael A. Cash sold 64,898 shares of the stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $32.59, for a total transaction of $2,115,025.82. Following the sale, the senior vice president now owns 242,056 shares in the company, valued at $7,888,605.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 617,688 shares of company stock worth $19,020,157. 2.30% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in AXTA. Davis Selected Advisers raised its holdings in shares of Axalta Coating Systems by 30.1% in the 3rd quarter. Davis Selected Advisers now owns 9,402,305 shares of the specialty chemicals company’s stock valued at $271,921,000 after purchasing an additional 2,173,915 shares in the last quarter. Confluence Investment Management LLC raised its holdings in shares of Axalta Coating Systems by 146.1% in the 4th quarter. Confluence Investment Management LLC now owns 2,294,824 shares of the specialty chemicals company’s stock valued at $74,261,000 after purchasing an additional 1,362,163 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Axalta Coating Systems by 75.1% in the 4th quarter. Wells Fargo & Company MN now owns 3,146,214 shares of the specialty chemicals company’s stock valued at $101,811,000 after purchasing an additional 1,349,093 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Axalta Coating Systems by 259.4% in the 4th quarter. Millennium Management LLC now owns 1,735,663 shares of the specialty chemicals company’s stock valued at $56,166,000 after purchasing an additional 1,252,686 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its holdings in shares of Axalta Coating Systems by 202.6% in the 4th quarter. TIAA CREF Investment Management LLC now owns 1,781,993 shares of the specialty chemicals company’s stock valued at $57,665,000 after purchasing an additional 1,193,184 shares in the last quarter.

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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. 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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