Economy

Axalta Coating Systems Ltd (AXTA) Announces Quarterly Earnings Results

Axalta Coating Systems Ltd (AXTA) Announces Quarterly Earnings Results”

Bessemer Group Inc. raised its holdings in shares of Axalta Coating Systems by 554,273.3% in the second quarter.

Other hedge funds have also made changes to their positions in the company. RiverPoint Capital Management LLC increased its holdings in shares of Axalta Coating Systems by 1.9% during the second quarter. Investment Counselors of Maryland LLC increased its holdings in shares of Axalta Coating Systems by 0.7% during the second quarter. Vanguard Group Inc. now owns 12,466,101 shares of the company's stock worth $330,726,000 after buying an additional 1,722,585 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Axalta Coating Systems by 8,917.7% in the second quarter. Ltd. increased its holdings in shares of Axalta Coating Systems by 2.4% during the first quarter.

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Shares of Axalta Coating Systems (AXTA) traded up 1.14% during mid-day trading on Monday, hitting $29.39. The stock decreased 1.12% or $0.33 during the last trading session, reaching $29.05. Streetinsider.com's news article titled: "Axalta Coating Systems (AXTA) Updates Q3 Gudiance" with publication date: October 09, 2017 was also an interesting one. The company has a 50-day moving average price of $29.06 and a 200-day moving average price of $30.81. The stock has a market cap of $7.15 billion and a PE ratio of 2939.00.

Axalta Coating Systems (NYSE:AXTA) last released its earnings results on Tuesday, July 26th. The specialty chemicals company reported $0.26 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $0.23 by $0.03, Bloomberg Earnings reports. After posting $0.31 EPS for the previous quarter, Axalta Coating Systems Ltd's analysts now forecast 12.90 % EPS growth. Investors may choose to review analyst projections and then make their own decisions on what they think the company will report for the quarter.

Looking forward, the company's quarterly earnings are expected to come at $0.51 in the three months through September 2017 and $0.52 in the quarter ending December 2017, reflecting 0% and -1.89% growth, respectively. For the full year, analysts expect earnings to jump 1.45% yoy to $2.1. Finally, TheStreet downgraded shares of Axalta Coating Systems from a b rating to a c rating in a research note on Thursday, August 3rd.

On October 10 Nomura maintained a company rating of "Neutral" but lowered the price expectation to $28.00 from $33.00. Susquehanna Bancshares Inc initiated coverage on Axalta Coating Systems in a research report on Tuesday, July 18th. The consensus analyst target price is $31.71. Finally, Robert W. Baird reissued an outperform rating and issued a $35.00 price target (up previously from $32.00) on shares of Axalta Coating Systems in a report on Monday, June 27th. Equities research analysts anticipate that Axalta Coating Systems will post $1.16 earnings per share for the current fiscal year. The stock has an average rating of Hold and an average price target of $32.14.

In other Axalta Coating Systems news, Director Samuel L. Smolik bought 4,000 shares of the company's stock in a transaction dated Monday, August 7th. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The stock was purchased at an average cost of $28.16 per share, with a total value of $112,640.00. Following the completion of the sale, the executive vice president now directly owns 201,393 shares in the company, valued at $5,924,982.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 195,774 shares of company stock worth $5,771,898. RBC Capital Markets maintained Axalta Coating Systems Ltd (NYSE:AXTA) on Monday, February 8 with "Outperform" rating. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of USA & global copyright laws. The correct version of this news story can be read at https://stocknewstimes.com/2017/10/26/axalta-coating-systems-ltd-axta-announces-quarterly-earnings-results.html. The percentage of shares being held by the company management was 0.2% while institutional stake was 99.7%. The Company's divisions include Performance Coatings and Transportation Coatings.



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