Axalta Coating Systems (NYSE:AXTA – Get Free Report)‘s stock had its “neutral” rating reissued by analysts at Citigroup in a research report issued on Friday, MarketBeat.com reports. They currently have a $34.00 target price on the specialty chemicals company’s stock, down from their previous target price of $35.00. Citigroup’s price objective would indicate a potential upside of 15.12% from the stock’s current price.
A number of other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. cut shares of Axalta Coating Systems from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $42.00 to $32.00 in a report on Thursday, May 8th. Mizuho set a $37.00 price objective on Axalta Coating Systems in a research note on Tuesday, April 15th. Wells Fargo & Company lifted their target price on Axalta Coating Systems from $37.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. The Goldman Sachs Group cut their target price on Axalta Coating Systems from $46.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, May 14th. Finally, Barclays reduced their target price on Axalta Coating Systems from $45.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, May 15th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.50.
Check Out Our Latest Report on AXTA
Axalta Coating Systems Price Performance
Axalta Coating Systems (NYSE:AXTA – Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.05. Axalta Coating Systems had a net margin of 7.41% and a return on equity of 26.29%. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period last year, the firm posted $0.48 earnings per share. The business’s revenue was down 2.5% on a year-over-year basis. As a group, equities research analysts anticipate that Axalta Coating Systems will post 2.55 earnings per share for the current year.
Hedge Funds Weigh In On Axalta Coating Systems
A number of hedge funds have recently modified their holdings of AXTA. Strs Ohio acquired a new stake in shares of Axalta Coating Systems during the 1st quarter valued at about $11,378,000. Jane Street Group LLC boosted its holdings in Axalta Coating Systems by 29.0% in the 1st quarter. Jane Street Group LLC now owns 156,122 shares of the specialty chemicals company’s stock valued at $5,179,000 after purchasing an additional 35,092 shares during the period. Great Lakes Advisors LLC bought a new stake in shares of Axalta Coating Systems during the first quarter valued at approximately $12,910,000. Goldman Sachs Group Inc. lifted its holdings in shares of Axalta Coating Systems by 4.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,161,682 shares of the specialty chemicals company’s stock worth $38,533,000 after acquiring an additional 51,130 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Axalta Coating Systems in the first quarter valued at $957,000. 98.28% of the stock is owned by institutional investors and hedge funds.
About Axalta Coating Systems
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.
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