Axalta Coating Systems (NYSE:AXTA) Issues Quarterly Earnings Results

Axalta Coating Systems (NYSE:AXTAGet Free Report) announced its quarterly earnings results on Thursday. The specialty chemicals company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01), Briefing.com reports. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Axalta Coating Systems had a return on equity of 20.70% and a net margin of 5.16%. Axalta Coating Systems’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the firm earned $0.38 earnings per share.

Axalta Coating Systems Trading Up 0.9 %

NYSE AXTA opened at $31.33 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.98 and a debt-to-equity ratio of 1.96. Axalta Coating Systems has a twelve month low of $25.03 and a twelve month high of $34.45. The firm has a market capitalization of $6.95 billion, a PE ratio of 26.11, a P/E/G ratio of 1.53 and a beta of 1.52. The stock’s 50 day moving average is $32.99 and its 200 day moving average is $29.97.

Insider Activity at Axalta Coating Systems

In related news, SVP Hadi Awada sold 10,500 shares of Axalta Coating Systems stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $31.99, for a total transaction of $335,895.00. Following the sale, the senior vice president now directly owns 14,656 shares in the company, valued at $468,845.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Axalta Coating Systems news, SVP Brian A. Berube sold 7,500 shares of the business’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $31.19, for a total value of $233,925.00. Following the sale, the senior vice president now directly owns 44,408 shares of the company’s stock, valued at $1,385,085.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Hadi Awada sold 10,500 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $31.99, for a total value of $335,895.00. Following the completion of the sale, the senior vice president now directly owns 14,656 shares in the company, valued at $468,845.44. The disclosure for this sale can be found here. Insiders have sold 35,915 shares of company stock worth $1,123,035 over the last ninety days. 0.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Axalta Coating Systems

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in Axalta Coating Systems by 65.4% in the first quarter. BlackRock Inc. now owns 25,806,208 shares of the specialty chemicals company’s stock worth $781,670,000 after acquiring an additional 10,208,408 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Axalta Coating Systems by 1.4% during the third quarter. Vanguard Group Inc. now owns 20,744,832 shares of the specialty chemicals company’s stock valued at $436,886,000 after purchasing an additional 284,713 shares in the last quarter. Shapiro Capital Management LLC lifted its holdings in shares of Axalta Coating Systems by 12.8% during the first quarter. Shapiro Capital Management LLC now owns 9,477,301 shares of the specialty chemicals company’s stock valued at $232,952,000 after purchasing an additional 1,074,872 shares in the last quarter. Ariel Investments LLC lifted its holdings in shares of Axalta Coating Systems by 23.8% during the first quarter. Ariel Investments LLC now owns 7,398,739 shares of the specialty chemicals company’s stock valued at $181,861,000 after purchasing an additional 1,420,653 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Axalta Coating Systems by 68.2% during the first quarter. State Street Corp now owns 6,639,964 shares of the specialty chemicals company’s stock valued at $201,124,000 after purchasing an additional 2,692,774 shares in the last quarter. 98.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AXTA shares. Wells Fargo & Company lifted their price target on Axalta Coating Systems from $31.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 9th. StockNews.com raised Axalta Coating Systems from a “hold” rating to a “buy” rating in a research note on Friday, November 3rd. UBS Group cut Axalta Coating Systems from a “buy” rating to a “neutral” rating and boosted their target price for the company from $35.00 to $36.00 in a research note on Monday, January 8th. Royal Bank of Canada boosted their target price on Axalta Coating Systems from $34.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, November 3rd. Finally, JPMorgan Chase & Co. boosted their target price on Axalta Coating Systems from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $34.42.

View Our Latest Stock Analysis on AXTA

Axalta Coating Systems Company Profile

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Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high-performance coatings systems in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It operates through two segments, Performance Coatings and Mobility Coatings. The company offers water and solvent-borne products and systems to repair damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.

See Also

Earnings History for Axalta Coating Systems (NYSE:AXTA)

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