Axalta Coating Systems Ltd (AXTA) was Upgraded by Seaport Global Securities to ” Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 36 from a previous price target of $34 . Earlier the firm had a rating of “Accumulate ” on the company shares. Seaport Global Securities advised their investors in a research report released on Jul 27, 2016.
Many Wall Street Analysts have commented on Axalta Coating Systems Ltd. Axalta Coating Systems Ltd was Resumed by Credit Suisse to “Outperform” on Jun 27, 2016.
On the company’s financial health, Axalta Coating Systems Ltd reported $0.34 EPS for the quarter, based on the information available during the earnings call on Jul 26, 2016. Analyst had a consensus estimate of $0.34. The company had revenue of $1072.10 million for the quarter, compared to analysts expectations of $1065.35 million. The company’s revenue was down -2.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.35 EPS.
Axalta Coating Systems Ltd closed down -0.67 points or -2.31% at $28.3 with 1,42,13,921 shares getting traded on Thursday. Post opening the session at $28.02, the shares hit an intraday low of $27.95 and an intraday high of $28.38 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on May 16, 2016, Sean M. Lannon (VP Corp Fin & Controller, PAO) sold 439 shares at $27.94 per share price. According to the SEC, on May 16, 2016, Michael F. Finn (SVP & General Counsel) sold 1,315 shares at $27.95 per share price. On May 16, 2016, Joseph F. Mcdougall (SVP&Chief Human Resources Off.) sold 1,879 shares at $27.95 per share price, according to the Form-4 filing with the securities and exchange commission.
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.