Axalta Coating Systems (NYSE:AXTA) PT Lowered to $38.00

Axalta Coating Systems (NYSE:AXTA) had its target price lowered by Mizuho from $40.00 to $38.00 in a research note issued to investors on Thursday morning, Benzinga reports. Mizuho currently has a buy rating on the specialty chemicals company’s stock.

Several other equities research analysts also recently weighed in on AXTA. Wolfe Research assumed coverage on Axalta Coating Systems in a report on Friday, March 1st. They issued a peer perform rating for the company. JPMorgan Chase & Co. increased their price target on shares of Axalta Coating Systems from $35.00 to $38.00 and gave the stock an overweight rating in a research note on Friday, February 9th. Citigroup lifted their price objective on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the company a buy rating in a research note on Wednesday, April 10th. Wells Fargo & Company increased their target price on shares of Axalta Coating Systems from $31.00 to $33.00 and gave the stock an equal weight rating in a research note on Tuesday, January 9th. Finally, UBS Group cut Axalta Coating Systems from a buy rating to a neutral rating and boosted their price target for the company from $35.00 to $36.00 in a research report on Monday, January 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $38.00.

Axalta Coating Systems Price Performance

Shares of AXTA opened at $35.20 on Thursday. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.07 and a quick ratio of 1.46. Axalta Coating Systems has a 1-year low of $25.03 and a 1-year high of $35.31. The stock has a market cap of $7.77 billion, a PE ratio of 31.71, a price-to-earnings-growth ratio of 1.09 and a beta of 1.51. The firm has a fifty day moving average price of $32.84 and a 200 day moving average price of $31.95.

Axalta Coating Systems (NYSE:AXTA) last posted its earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.08. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Axalta Coating Systems had a return on equity of 21.82% and a net margin of 4.77%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 earnings per share. As a group, sell-side analysts anticipate that Axalta Coating Systems will post 1.99 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Axalta Coating Systems by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 23,208,795 shares of the specialty chemicals company’s stock worth $788,403,000 after purchasing an additional 322,393 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings 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 buying an additional 1,415,723 shares in the last quarter. Victory Capital Management Inc. grew its position in Axalta Coating Systems by 1,856.6% during the fourth quarter. Victory Capital Management Inc. now owns 5,866,601 shares of the specialty chemicals company’s stock worth $199,288,000 after buying an additional 5,566,757 shares during the period. Wellington Management Group LLP increased its holdings in Axalta Coating Systems by 9.0% in the third 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 in the last quarter. Finally, Pzena Investment Management LLC lifted its position in shares of Axalta Coating Systems by 2.0% during the 3rd quarter. Pzena Investment Management LLC now owns 3,825,560 shares of the specialty chemicals company’s stock valued at $102,908,000 after acquiring an additional 73,604 shares during the period. 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.