Seaport Res Ptn Equities Analysts Boost Earnings Estimates for Axalta Coating Systems Ltd. (NYSE:AXTA)

Axalta Coating Systems Ltd. (NYSE:AXTA) – Stock analysts at Seaport Res Ptn boosted their FY2024 earnings per share (EPS) estimates for Axalta Coating Systems in a research report issued on Wednesday, May 1st. Seaport Res Ptn analyst M. Harrison now anticipates that the specialty chemicals company will post earnings per share of $1.98 for the year, up from their prior estimate of $1.89. The consensus estimate for Axalta Coating Systems’ current full-year earnings is $1.99 per share. Seaport Res Ptn also issued estimates for Axalta Coating Systems’ Q4 2024 earnings at $0.51 EPS, Q1 2025 earnings at $0.53 EPS, Q2 2025 earnings at $0.59 EPS, Q3 2025 earnings at $0.60 EPS and FY2025 earnings at $2.33 EPS.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings data on Wednesday, May 1st. The specialty chemicals company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.40 by $0.08. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Axalta Coating Systems had a net margin of 4.77% and a return on equity of 21.82%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.35 earnings per share.

Several other equities analysts also recently weighed in on the company. KeyCorp raised their price objective on Axalta Coating Systems from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday. Wolfe Research began coverage on Axalta Coating Systems in a research note on Friday, March 1st. They set a “peer perform” rating for the company. BMO Capital Markets increased their price objective on shares of Axalta Coating Systems from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday. JPMorgan Chase & Co. raised their target price on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Wells Fargo & Company upped their price target on shares of Axalta Coating Systems from $31.00 to $33.00 and gave the company an “equal weight” rating in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

Axalta Coating Systems Price Performance

AXTA stock opened at $35.20 on Monday. The firm has a 50 day moving average of $32.84 and a 200-day moving average of $31.95. The company has a market cap of $7.77 billion, a price-to-earnings ratio of 31.71, a PEG ratio of 1.09 and a beta of 1.51. The company has a current ratio of 2.07, a quick ratio of 1.46 and a debt-to-equity ratio of 1.92. Axalta Coating Systems has a 12-month low of $25.03 and a 12-month high of $35.31.

Institutional Investors Weigh In On Axalta Coating Systems

Several hedge funds have recently made changes to their positions in AXTA. Wellington Management Group LLP grew its holdings in Axalta Coating Systems by 9.0% in the 3rd quarter. Wellington Management Group LLP now owns 4,657,696 shares of the specialty chemicals company’s stock valued at $125,292,000 after buying an additional 382,949 shares during the period. Hawk Ridge Capital Management LP grew its holdings in Axalta Coating Systems by 49.3% in the third quarter. Hawk Ridge Capital Management LP now owns 2,952,198 shares of the specialty chemicals company’s stock valued at $79,414,000 after purchasing an additional 974,973 shares during the period. JPMorgan Chase & Co. increased its position in Axalta Coating Systems by 11.7% during the third quarter. JPMorgan Chase & Co. now owns 13,470,860 shares of the specialty chemicals company’s stock worth $362,366,000 after purchasing an additional 1,415,723 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Axalta Coating Systems by 11.5% during the third quarter. The Manufacturers Life Insurance Company now owns 2,644,246 shares of the specialty chemicals company’s stock worth $71,130,000 after purchasing an additional 272,455 shares during the period. Finally, Prospector Partners LLC boosted its holdings in shares of Axalta Coating Systems by 10.2% in the 3rd quarter. Prospector Partners LLC now owns 323,930 shares of the specialty chemicals company’s stock valued at $8,714,000 after purchasing an additional 29,930 shares during the last quarter. Institutional investors and hedge funds own 98.28% of the company’s stock.

Axalta Coating Systems Company Profile

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. The company operates through two segments, Performance Coatings and Mobility Coatings.