After hours: 4:26PM EDT
|Bid||29.96 x 1200|
|Ask||29.97 x 1400|
|Day's Range||29.90 - 30.72|
|52 Week Range||21.58 - 30.93|
|Beta (3Y Monthly)||1.17|
|PE Ratio (TTM)||39.93|
|Earnings Date||Jul 23, 2019 - Jul 29, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||31.00|
Axalta Coating Systems Ltd. (AXTA) is looking like an interesting pick from a technical perspective, as the company is seeing favorable trends on the moving average crossover front.
Investors target stocks that have been on a bullish run lately. Actually, stocks seeing price strength have a high chance of carrying the momentum forward.
The U.S. chemical industry's upturn is expected to continue on strength across key end-markets and investment on capacity expansion.
Citing sources, Bloomberg reported on Monday that the New York-based hedge fund run by Barry Rosenstein has invested in Axalta recent months, and has been pushing the company to explore alternatives. Axalta's coating for Z181 meet the demands of adding little weight to the racing car. Shares of Axalta soared nearly 15% last Wednesday after the Philadelphia-based company said its board of directors had kicked off a review of its "strategic options" -- something Jana had been pushing it to do for some time.
PHILADELPHIA, June 24, 2019 /PRNewswire/ -- Axalta Coating Systems Ltd. (AXTA), a leading global supplier of liquid and powder coatings, today announced that Charlie Shaver has resigned as Chairman of its Board of Directors, effective June 30, 2019, to focus on other professional commitments. The Board of Directors has appointed current Independent Presiding Director Mark Garrett as its new Chairman.
(Bloomberg) -- Activist investor Jana Partners has built a position in Axalta Coating Systems Ltd., the car paint maker that announced a strategic review, according to people familiar with the matter.The New York-based hedge fund run by Barry Rosenstein invested in recent months and has been pushing the company to explore alternatives, said the people, who asked not to be identified because the matter was private.The exact size of its stake couldn’t be learned. Representatives for Jana and Axalta declined to comment.Axalta’s shares rose 0.7% to $29.99 Friday, giving the Philadelphia-based company a market value of about $7 billion.Axalta has formed a special committee to review options including a potential sale, it announced this week. It will also look at how it is executing its strategic plan and evaluate changes in capital allocation.Sold by DuPont in 2013, Axalta supplies spray paint and metal treatments for automotive chassis. Analysts have long pegged it as a potential takeover target for larger rivals such as PPG Industries and Akzo Nobel NV.\--With assistance from Nabila Ahmed.To contact the reporters on this story: Kiel Porter in Chicago at email@example.com;Scott Deveau in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Liana Baker at email@example.com, Matthew Monks, Michael HythaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...
Shares of Axalta were up 14.52% in early afternoon trading, gaining $3.75 to $29.57 on the New York Stock Exchange after the Philadelphia-based company said it had formed a committee to explore various options to boost value for its shareholders. "Axalta's board is committed to maximizing value for all shareholders and has initiated a comprehensive review of strategic alternatives, including a potential sale of the company, changes in capital allocation, and ongoing execution of our strategic plan," Axalta board director Mark Garrett said in a statement.
Axalta said its board has initiated a comprehensive review of strategic alternatives — including a potential sale — to maximize shareholder value. The board has formed a strategic review committee chaired by Mark Garrett, the independent presiding director of the board. Axalta, the erstwhile coating business of DuPont de Nemours Inc (NYSE: DD), has had a checkered history since its inception, with failed takeover discussions and frequent leadership changes.
Axalta Coating Systems Ltd, the U.S. coatings company whose largest shareholder is Warren Buffett's Berkshire Hathaway Inc, said on Wednesday it had formed a board committee to explore a sale of the company. Axalta rebuffed acquisition approaches in 2017 from Akzo Nobel NV and Nippon Paint Holdings Co Ltd. Since then, the company has lost about a fifth of its market value, even though the S&P 500 Index has risen more than 9 percent during the same period, as demand in Axalta's key automotive market weakened. Axalta also got new management in December, after an investigation of previous Chief Executive Officer Terrence Hahn's conduct by external counsel that Axalta characterized as "inconsistent with the company's policies." Axalta never disclosed the investigation's findings.
Axalta Coating Systems is exploring options, including an outright sale of the business, less than 19 months after talks to sell itself to Japanese rival Nippon Paint fell apart. The car-paint specialist, which counts Berkshire Hathaway as its largest shareholder, said on Wednesday that it has hired bankers to initiate a strategic review of the business to maximise shareholder value. “Axalta’s Board is committed to maximising value for all shareholders and has initiated a comprehensive review of strategic alternatives, including a potential sale of the company, changes in capital allocation, and ongoing execution of our strategic plan,” said Mark Garrett, the company’s independent board director.
Axalta Coating Systems Ltd. shares soared 10% in premarket trade Wednesday, after the paint company said its board has started a review of its strategic options, including a possible sale. The board has formed a committee that will be chaired by its independent presiding director Mark Garrett and will include Chief Executive Robert Bryant and independent director Samuel Smolik. "Axalta's Board is committed to maximizing value for all shareholders and has initiated a comprehensive review of strategic alternatives, including a potential sale of the Company, changes in capital allocation, and ongoing execution of our strategic plan," Garrett said in a statement.The board has hired Evercore and Barclays as financial advisers and Morrison & Foerster LLP as legal advisor to help with the review. Shares have gained 10% in 2019 through Tuesday, while the S&P 500 has gained 16%.
PHILADELPHIA, June 19, 2019 /PRNewswire/ -- Axalta Coating Systems Ltd. (AXTA), a leading global supplier of liquid and powder coatings, today announced that its Board of Directors has initiated a comprehensive review of strategic alternatives to maximize shareholder value.
Axalta Coating Systems Ltd NYSE:AXTAView full report here! Summary * ETFs holding this stock are seeing positive inflows * Bearish sentiment is low * Economic output in this company's sector is expanding Bearish sentimentShort interest | PositiveShort interest is extremely low for AXTA with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting AXTA. Money flowETF/Index ownership | PositiveETF activity is positive. Over the last month, ETFs holding AXTA are favorable, with net inflows of $2.95 billion. Additionally, the rate of inflows is increasing. Economic sentimentPMI by IHS Markit | PositiveAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Basic Materials sector is rising. The rate of growth is weak relative to the trend shown over the past year, but is accelerating. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to firstname.lastname@example.org.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
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