Axalta Coating Systems Ltd. (NYSE:AXTA) Expected to Post Quarterly Sales of $1.26 Billion

Wall Street analysts expect Axalta Coating Systems Ltd. (NYSE:AXTAGet Rating) to announce $1.26 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Axalta Coating Systems’ earnings. The lowest sales estimate is $1.26 billion and the highest is $1.27 billion. Axalta Coating Systems reported sales of $1.13 billion in the same quarter last year, which would suggest a positive year over year growth rate of 11.5%. The business is scheduled to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Axalta Coating Systems will report full year sales of $4.93 billion for the current financial year, with estimates ranging from $4.80 billion to $5.03 billion. For the next year, analysts expect that the company will post sales of $5.27 billion, with estimates ranging from $5.05 billion to $5.47 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Axalta Coating Systems.

Axalta Coating Systems (NYSE:AXTAGet Rating) last posted its quarterly earnings data on Monday, April 25th. The specialty chemicals company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.11 billion. Axalta Coating Systems had a net margin of 6.41% and a return on equity of 22.66%. The firm’s revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 earnings per share.

Several equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Axalta Coating Systems from a “buy” rating to a “hold” rating and lowered their price target for the company from $34.00 to $27.00 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 target on the stock. in a report on Wednesday, February 2nd. TheStreet downgraded shares of Axalta Coating Systems from a “b-” rating to a “c+” rating in a report on Monday, March 21st. Zacks Investment Research raised shares of Axalta Coating Systems from a “strong sell” rating to a “hold” rating in a report on Friday. Finally, Barclays assumed coverage on shares of Axalta Coating Systems in a report on Thursday, February 17th. They set an “overweight” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Axalta Coating Systems currently has a consensus rating of “Hold” and a consensus price target of $31.00.

In related news, Director William M. Cook bought 2,000 shares of the stock in a transaction dated Friday, March 4th. The shares were purchased at an average price of $24.64 per share, with a total value of $49,280.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its position in Axalta Coating Systems by 202.5% in the third quarter. Russell Investments Group Ltd. now owns 1,426,435 shares of the specialty chemicals company’s stock worth $42,445,000 after purchasing an additional 954,830 shares during the last quarter. River & Mercantile Asset Management LLP increased its position in Axalta Coating Systems by 83.9% in the third quarter. River & Mercantile Asset Management LLP now owns 66,200 shares of the specialty chemicals company’s stock worth $1,931,000 after purchasing an additional 30,200 shares during the last quarter. First Mercantile Trust Co. increased its position in Axalta Coating Systems by 49.2% in the third quarter. First Mercantile Trust Co. now owns 8,972 shares of the specialty chemicals company’s stock worth $262,000 after purchasing an additional 2,960 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its position in Axalta Coating Systems by 43.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 73,694 shares of the specialty chemicals company’s stock worth $2,151,000 after purchasing an additional 22,482 shares during the last quarter. Finally, US Bancorp DE increased its position in Axalta Coating Systems by 64.0% in the third quarter. US Bancorp DE now owns 9,901 shares of the specialty chemicals company’s stock worth $289,000 after purchasing an additional 3,865 shares during the last quarter. Institutional investors own 99.97% of the company’s stock.

AXTA opened at $25.37 on Monday. The company has a current ratio of 1.87, a quick ratio of 1.43 and a debt-to-equity ratio of 2.63. The company has a market cap of $5.62 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 0.86 and a beta of 1.42. The company’s 50 day moving average is $25.09 and its 200 day moving average is $29.17. Axalta Coating Systems has a 12-month low of $21.67 and a 12-month high of $34.20.

About Axalta Coating Systems (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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