Axalta Coating Systems Ltd. (AXTA) : Money flow in the Axalta Coating Systems Ltd. (AXTA) stock was negative (9.26 million) on Tuesday, which shows that the investors used the strength in the stock price to reduce their holdings. The total traded value on upticks was $8.4 million, compared to $17.67 million on downticks. The total uptick to downtick ratio was 0.48, indicating the underlying weakness in the stock. Even in block trades, money flow was negative ($9.99 million), indicating selling on the strength. The transaction value during uptick in block trades was $1.55 million. Downtick transaction value in block trades amounted to $11.54 million, indicating persistent selling. The uptick to downtick ratio was 0.13. Axalta Coating Systems Ltd. (AXTA) traded $0.19 higher at $28.62 gaining 0.67% over the previous days close.
Also, Seaport Global upgrades their rating on the shares of Axalta Coating Systems Ltd. (NYSE:AXTA). The current rating of the shares is Buy. Earlier, the shares were rated a Accumulate by the brokerage firm. The rating by the firm was issued on July 27, 2016.
Shares of Axalta Coating Systems Ltd. rose by 0.95% in the last five trading days and 0.35% for the last 4 weeks. Axalta Coating Systems Ltd. is up 2.25% in the last 3-month period. Year-to-Date the stock performance stands at 7.39%.
Axalta Coating Systems Ltd. (NYSE:AXTA): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $28.65 and $28.51 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $28.84. The buying momentum continued till the end and the stock did not give up its gains. It closed at $28.62, notching a gain of 0.67% for the day. The total traded volume was 2,011,777 . The stock had closed at $28.43 on the previous day.
In a related news, The Securities and Exchange Commission has divulged that Shaver Charles W, director officer (CEO) of Axalta Coating Systems Ltd., had unloaded 200,000 shares at an average price of $28.21 in a transaction dated on July 28, 2016. The total value of the transaction was worth $5,642,000.
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 Companys 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.