JP Morgan Downgrades Axiall Corp to Neutral with Price Target $33.00

Brokerage firm JP Morgan Downgrades its rating on Axiall Corp(NYSE:AXLL). In a research note issued to the investors, the brokerage major Raises the price-target to $33.00 per share. The shares have been rated Neutral. Previously, the analysts had a Overweight rating on the shares. The rating by JP Morgan was issued on Jun 13, 2016.

In a different note, On Apr 5, 2016, Citigroup said it Maintains its rating on Axiall Corp. In the research note, the firm Raises the price-target to $20.00 per share. The shares have been rated ‘Neutral’ by the firm. On Apr 4, 2016, SunTrust Robinson Humphrey said it Downgrades its rating on Axiall Corp. The shares have been rated ‘Neutral’ by the firm.

Axiall Corp (AXLL) made into the market gainers list on Fridays trading session with the shares advancing 0.25% or 0.08 points. Due to strong positive momentum, the stock ended at $32.64, which is also near the day’s high of $32.68. The stock began the session at $32.65 and the volume stood at 16,52,312 shares. The 52-week high of the shares is $39.8 and the 52 week low is $9.04. The company has a current market capitalization of $2,304 M and it has 7,05,87,260 shares in outstanding.

Axiall Corp has also declared a cash dividend of $0.1600 on May 17, 2016. The shares will quote ex-dividend on Jun 22, 2016 and the record date has been fixed on Jun 24, 2016. The dividend payable date has been fixed on Jul 8, 2016.

Axiall Corp(AXLL) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $699.20M. Analysts had an estimated revenue of $756.36M. Earnings per share were $-0.17. Analysts had estimated an EPS of $-0.27.

Several Insider Transactions has been reported to the SEC. On Mar 6, 2015, George Biltz (Chief Strategy Officer) sold 7,388 shares at $46.47 per share price.

Axiall Corporation is a manufacturer and international marketer of chemicals and building products. The Company operates through three segments: chlorovinyls building products and aromatics. The Company’s chlorovinyls segment produces a chain of products including chlor-alkali and derivative products such as chlorine caustic soda vinyl chloride monomer (VCM) vinyl resins ethylene dichloride (or 1 2 dichloroethane) (EDC) chlorinated solvents calcium hypochlorite hydrochloric acid (HCL) and phosgene derivatives and compound products such as vinyl compounds and compound additives and plasticizers. The Company’s building products segment consists of two primary product groups: window and door profiles and trim moldings and deck products and outdoor building products which includes siding and exterior accessories pipe and pipe fittings. The Company’s aromatics segment manufactures cumene products and phenol and acetone products (co-products made from cumene).

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