Q3 2022 Earnings Forecast for Axalta Coating Systems Ltd. Issued By Seaport Res Ptn (NYSE:AXTA)

Axalta Coating Systems Ltd. (NYSE:AXTA – Get Rating) – Stock analysts at Seaport Res Ptn decreased their Q3 2022 earnings estimates for shares of Axalta Coating Systems in a research report issued to clients and investors on Wednesday, April 20th. Seaport Res Ptn analyst M. Harrison now forecasts that the specialty chemicals company will earn $0.49 per share for the quarter, down from their previous estimate of $0.53.

Axalta Coating Systems (NYSE:AXTA – Get Rating) last posted its quarterly earnings results on Monday, January 31st. The specialty chemicals company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.01). The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Axalta Coating Systems had a return on equity of 25.96% and a net margin of 5.98%. During the same quarter in the prior year, the firm earned $0.58 EPS.

AXTA has been the topic of a number of other reports. Zacks Investment Research lowered shares of Axalta Coating Systems from a “hold” rating to a “sell” rating in a research note on Friday, January 28th. Wells Fargo & Company dropped their target price on Axalta Coating Systems from $32.00 to $27.00 and set an “equal weight” rating on the stock in a report on Monday, April 18th. Vertical Research downgraded shares of Axalta Coating Systems from a “buy” rating to a “hold” rating and set a $34.00 price objective on the stock. in a report on Wednesday, February 2nd. Morgan Stanley decreased their price target on Axalta Coating Systems from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Axalta Coating Systems from a “buy” rating to a “hold” rating and reduced their price target for the company from $34.00 to $27.00 in a report on Monday, April 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $32.82.

NYSE:AXTA opened at $24.87 on Friday. Axalta Coating Systems has a 52 week low of $21.67 and a 52 week high of $34.20. The company has a market cap of $5.58 billion, a price-to-earnings ratio of 22.01, a price-to-earnings-growth ratio of 0.87 and a beta of 1.42. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 2.44. The company has a fifty day simple moving average of $25.39 and a two-hundred day simple moving average of $29.33.

Several institutional investors and hedge funds have recently modified their holdings of AXTA. First Trust Advisors LP acquired a new position in Axalta Coating Systems in the first quarter valued at about $278,000. Amundi Pioneer Asset Management Inc. increased its holdings in shares of Axalta Coating Systems by 6.6% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 127,994 shares of the specialty chemicals company’s stock valued at $3,227,000 after purchasing an additional 7,962 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in shares of Axalta Coating Systems in the third quarter valued at approximately $99,000. State of New Jersey Common Pension Fund D lifted its stake in shares of Axalta Coating Systems by 6.4% during the third quarter. State of New Jersey Common Pension Fund D now owns 106,878 shares of the specialty chemicals company’s stock valued at $3,120,000 after acquiring an additional 6,474 shares during the period. Finally, WINTON GROUP Ltd boosted its stake in shares of Axalta Coating Systems by 68.1% in the 3rd quarter. WINTON GROUP Ltd now owns 22,631 shares of the specialty chemicals company’s stock valued at $661,000 after purchasing an additional 9,171 shares during the last quarter. 97.09% of the stock is owned by institutional investors and hedge funds.

In related news, Director William M. Cook bought 2,000 shares of Axalta Coating Systems stock in a transaction that occurred on Friday, March 4th. The stock was acquired at an average price of $24.64 per share, for a total transaction of $49,280.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.

Axalta Coating Systems Company Profile (Get Rating)

Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high-performance coatings systems in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It operates through two segments, Performance Coatings and Transportation Coatings. The company offers water and solvent-borne products and systems to repair damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.

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