Axalta Coating Systems Ltd (AXTA) was Reiterated by RBC Capital Mkts to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 35 from a previous price target of $33 . RBC Capital Mkts advised their Clients and Investors in a research report released on Mar 15, 2017.
Based on several research reports , Company shares were Reiterated by RBC Capital Mkts on Mar 15, 2017 to “Outperform”, Firm has raised the Price Target to $ 35 from a previous price target of $33 .Shares were Reiterated by RBC Capital Mkts on Feb 9, 2017 to “Outperform” and Lowered the Price Target to $ 3 from a previous price target of $31 .Axalta Coating Systems Ltd was Downgraded by Gabelli & Co to ” Hold” on Feb 9, 2017. Axalta Coating Systems Ltd was Downgraded by Citigroup to ” Neutral” on Jan 9, 2017. Company shares were Reiterated by Barclays on Dec 28, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 31 from a previous price target of $30 .
Several company insiders have filed Insider transactions , on Mar 14, 2017, Michael F. Finn (SVP & General Counsel) sold 37,200 shares at $31.37 per share price. According to the SEC, on Mar 14, 2017, Michael A. Cash (SVP & Pres., Indus. Coatings) sold 25,000 shares at $31.37 per share price. On Mar 7, 2017, Joseph F. Mcdougall (SVP&Chief Human Resources Off.) sold 40,000 shares at $29.29 per share price, according to the Form-4 filing with the securities and exchange commission.
On the company’s financial health, Axalta Coating Systems Ltd reported $0.28 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Feb 8, 2017. Analyst had a consensus of $0.29. The company had revenue of $1029.40 million for the quarter, compared to analysts expectations of $1021.48 million. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS.
Axalta Coating Systems Ltd closed down -0.05 points or -0.16% at $31.08 with 19,24,998 shares getting traded on Wednesday. Post opening the session at $31.24, the shares hit an intraday low of $30.98 and an intraday high of $31.44 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
Axalta Coating Systems Ltd. is a manufacturer marketer and distributor of coatings systems primarily serving the transportation industry. The Company operates in two business segments: 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. Through its Transportation Coatings segment the Company provides advanced coating technologies to original equipment manufacturer (OEMs) of light and commercial vehicles. Its products are offered in four key end-markets including the refinish automotive aftermarket industrial light vehicle or automotive original equipment manufacturers (OEM) market and commercial vehicle market. The Company’s products include liquid and powder coatings for motor vehicles OEMs the motor vehicle aftermarket and general industrial applications such as coatings for heavy equipment pipes appliances and electrical insulation.