Seaport Global Securities Weighs in on Axalta Coating Systems Ltd’s Q3 2018 Earnings (AXTA)

Axalta Coating Systems Ltd (NYSE:AXTA) – Equities research analysts at Seaport Global Securities increased their Q3 2018 EPS estimates for shares of Axalta Coating Systems in a report issued on Tuesday. Seaport Global Securities analyst M. Harrison now forecasts that the specialty chemicals company will post earnings of $0.37 per share for the quarter, up from their prior forecast of $0.36. Seaport Global Securities also issued estimates for Axalta Coating Systems’ FY2018 earnings at $1.39 EPS.

Axalta Coating Systems (NYSE:AXTA) last announced its earnings results on Thursday, October 26th. The specialty chemicals company reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.03. Axalta Coating Systems had a net margin of 1.46% and a return on equity of 19.91%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the business posted $0.33 EPS. The business’s revenue was up 6.8% compared to the same quarter last year.

Several other analysts have also issued reports on the stock. UBS began coverage on shares of Axalta Coating Systems in a research report on Tuesday. They set a “market perform” rating on the stock. Raymond James Financial began coverage on shares of Axalta Coating Systems in a research report on Tuesday. They set a “market perform” rating on the stock. Zacks Investment Research upgraded shares of Axalta Coating Systems from a “strong sell” rating to a “hold” rating in a research report on Monday, December 11th. Vertical Research lowered shares of Axalta Coating Systems from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a research report on Friday, December 1st. Finally, KeyCorp reiterated an “overweight” rating and set a $40.00 price target (up previously from $36.00) on shares of Axalta Coating Systems in a research report on Tuesday, November 28th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. Axalta Coating Systems currently has an average rating of “Hold” and an average price target of $33.73.

Axalta Coating Systems (NYSE:AXTA) traded down $0.16 during midday trading on Wednesday, hitting $31.39. 1,633,200 shares of the company traded hands, compared to its average volume of 2,377,799. The company has a debt-to-equity ratio of 2.69, a current ratio of 2.11 and a quick ratio of 1.50. The firm has a market cap of $7,686.54, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 1.95 and a beta of 1.55. Axalta Coating Systems has a twelve month low of $26.82 and a twelve month high of $38.20.

A number of large investors have recently bought and sold shares of the business. Burgundy Asset Management Ltd. grew its holdings in Axalta Coating Systems by 6.0% in the third quarter. Burgundy Asset Management Ltd. now owns 216,550 shares of the specialty chemicals company’s stock worth $6,263,000 after purchasing an additional 12,319 shares during the period. Jana Partners LLC acquired a new stake in Axalta Coating Systems in the third quarter worth $21,996,000. Davis Selected Advisers grew its holdings in Axalta Coating Systems by 30.1% in the third quarter. Davis Selected Advisers now owns 9,402,305 shares of the specialty chemicals company’s stock worth $271,921,000 after purchasing an additional 2,173,915 shares during the period. Yellowstone Partners LLC acquired a new stake in Axalta Coating Systems in the third quarter worth $2,410,000. Finally, California Public Employees Retirement System grew its holdings in Axalta Coating Systems by 4.7% in the third quarter. California Public Employees Retirement System now owns 343,935 shares of the specialty chemicals company’s stock worth $9,947,000 after purchasing an additional 15,435 shares during the period. Institutional investors and hedge funds own 99.22% of the company’s stock.

In other news, SVP Michael A. Cash sold 34,874 shares of the stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $30.00, for a total transaction of $1,046,220.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steven R. Markevich sold 900 shares of the stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $29.42, for a total transaction of $26,478.00. Following the sale, the executive vice president now owns 201,393 shares of the company’s stock, valued at $5,924,982.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,724 shares of company stock valued at $1,201,705. 2.30% of the stock is currently owned by corporate insiders.

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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.

Earnings History and Estimates for Axalta Coating Systems (NYSE:AXTA)

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