Axalta Coating Systems Ltd (NYSE:AXTA) – Stock analysts at Jefferies Financial Group raised their Q4 2019 earnings per share estimates for shares of Axalta Coating Systems in a research report issued on Tuesday, June 11th. Jefferies Financial Group analyst L. Alexander now forecasts that the specialty chemicals company will earn $0.53 per share for the quarter, up from their prior estimate of $0.41. Jefferies Financial Group also issued estimates for Axalta Coating Systems’ FY2023 earnings at $2.55 EPS.
Several other equities research analysts have also recently weighed in on AXTA. BMO Capital Markets set a $32.00 target price on shares of Axalta Coating Systems and gave the company a “hold” rating in a research note on Friday, April 26th. JPMorgan Chase & Co. lowered shares of Axalta Coating Systems from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $30.00 to $27.00 in a report on Friday, April 26th. Finally, Zacks Investment Research raised shares of Axalta Coating Systems from a “strong sell” rating to a “hold” rating and set a $30.00 price target for the company in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $30.09.
Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings results on Wednesday, April 24th. The specialty chemicals company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.13. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.15 billion. Axalta Coating Systems had a net margin of 3.90% and a return on equity of 24.42%. Axalta Coating Systems’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.27 earnings per share.
In other news, Director Charles W. Shaver sold 500,000 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $25.24, for a total transaction of $12,620,000.00. Following the completion of the sale, the director now directly owns 492,369 shares in the company, valued at $12,427,393.56. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Andreas Kramvis sold 55,048 shares of the stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $28.11, for a total transaction of $1,547,399.28. Following the transaction, the director now directly owns 50,628 shares in the company, valued at $1,423,153.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 864,868 shares of company stock valued at $22,074,006. 2.10% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the business. Jolley Asset Management LLC increased its stake in shares of Axalta Coating Systems by 3.9% in the first quarter. Jolley Asset Management LLC now owns 10,210 shares of the specialty chemicals company’s stock worth $257,000 after purchasing an additional 380 shares in the last quarter. ETF Managers Group LLC lifted its position in Axalta Coating Systems by 9.8% during the first quarter. ETF Managers Group LLC now owns 4,740 shares of the specialty chemicals company’s stock valued at $120,000 after purchasing an additional 422 shares during the last quarter. AMI Investment Management Inc. increased its stake in shares of Axalta Coating Systems by 0.5% in the fourth quarter. AMI Investment Management Inc. now owns 92,455 shares of the specialty chemicals company’s stock worth $2,165,000 after buying an additional 450 shares during the period. Country Club Trust Company n.a. increased its position in Axalta Coating Systems by 3.5% during the 1st quarter. Country Club Trust Company n.a. now owns 14,798 shares of the specialty chemicals company’s stock valued at $373,000 after purchasing an additional 499 shares during the period. Finally, Prudential Financial Inc. increased its position in Axalta Coating Systems by 4.6% during the 4th quarter. Prudential Financial Inc. now owns 11,310 shares of the specialty chemicals company’s stock valued at $265,000 after purchasing an additional 500 shares during the period. 98.51% of the stock is currently owned by hedge funds and other institutional investors.
Axalta Coating Systems Company Profile
Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings systems. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers water and solvent borne products and systems that are used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.
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