Axalta Coating Systems (NYSE:AXTA) Updates Q3 2022 Earnings Guidance

Axalta Coating Systems (NYSE:AXTAGet Rating) updated its third quarter 2022 earnings guidance on Thursday. The company provided earnings per share guidance of $0.37-$0.45 for the period, compared to the consensus earnings per share estimate of $0.51. The company issued revenue guidance of $1.25 billion-$1.27 billion, compared to the consensus revenue estimate of $1.23 billion.

Analysts Set New Price Targets

AXTA has been the subject of a number of recent analyst reports. Wells Fargo & Company boosted their target price on Axalta Coating Systems from $25.00 to $26.00 and gave the stock an equal weight rating in a research report on Thursday. KeyCorp boosted their target price on Axalta Coating Systems from $30.00 to $31.00 and gave the stock an overweight rating in a research report on Thursday. Robert W. Baird decreased their target price on Axalta Coating Systems from $38.00 to $35.00 and set a maintains rating for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft lowered Axalta Coating Systems from a buy rating to a hold rating and decreased their target price for the stock from $34.00 to $27.00 in a research report on Monday, April 18th. Finally, UBS Group cut their price target on Axalta Coating Systems from $33.00 to $30.00 in a research note on Wednesday, July 13th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Hold and a consensus price target of $30.17.

Axalta Coating Systems Price Performance

Shares of AXTA traded up $0.02 during mid-day trading on Friday, hitting $25.22. 1,689,482 shares of the stock were exchanged, compared to its average volume of 2,618,665. The company has a market cap of $5.59 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of 0.88 and a beta of 1.33. Axalta Coating Systems has a 52-week low of $21.44 and a 52-week high of $34.12. The firm has a 50-day moving average of $24.72 and a two-hundred day moving average of $25.89. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.30 and a current ratio of 1.87.

Axalta Coating Systems (NYSE:AXTAGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The specialty chemicals company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.01. Axalta Coating Systems had a return on equity of 21.39% and a net margin of 4.49%. During the same quarter last year, the firm posted $0.48 EPS. On average, equities analysts predict that Axalta Coating Systems will post 1.75 earnings per share for the current year.

Hedge Funds Weigh In On Axalta Coating Systems

Several hedge funds have recently bought and sold shares of the business. US Bancorp DE grew its position in shares of Axalta Coating Systems by 12.9% during the 1st quarter. US Bancorp DE now owns 10,087 shares of the specialty chemicals company’s stock worth $248,000 after buying an additional 1,149 shares in the last quarter. Prudential Financial Inc. grew its position in shares of Axalta Coating Systems by 5.8% during the 1st quarter. Prudential Financial Inc. now owns 11,554 shares of the specialty chemicals company’s stock worth $284,000 after buying an additional 631 shares in the last quarter. Great West Life Assurance Co. Can grew its position in shares of Axalta Coating Systems by 4.7% during the 1st quarter. Great West Life Assurance Co. Can now owns 12,492 shares of the specialty chemicals company’s stock worth $327,000 after buying an additional 559 shares in the last quarter. Private Advisor Group LLC grew its position in shares of Axalta Coating Systems by 22.9% during the 1st quarter. Private Advisor Group LLC now owns 13,931 shares of the specialty chemicals company’s stock worth $342,000 after buying an additional 2,596 shares in the last quarter. Finally, Cresset Asset Management LLC grew its position in shares of Axalta Coating Systems by 17.2% during the 1st quarter. Cresset Asset Management LLC now owns 15,224 shares of the specialty chemicals company’s stock worth $374,000 after buying an additional 2,239 shares in the last quarter. Institutional investors own 99.97% 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.

Read More

Earnings History and Estimates for Axalta Coating Systems (NYSE:AXTA)

Receive News & Ratings for Axalta Coating Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axalta Coating Systems and related companies with MarketBeat.com's FREE daily email newsletter.