Citigroup Reaffirms Neutral Rating for Axalta Coating Systems (NYSE:AXTA)

Axalta Coating Systems (NYSE:AXTAGet 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

AXTA traded up $0.75 on Friday, reaching $29.54. The company had a trading volume of 1,298,975 shares, compared to its average volume of 2,045,604. The company has a market capitalization of $6.46 billion, a P/E ratio of 16.60, a PEG ratio of 0.92 and a beta of 1.27. The company has a current ratio of 2.01, a quick ratio of 1.47 and a debt-to-equity ratio of 1.74. The company has a fifty day moving average of $31.42 and a 200-day moving average of $34.17. Axalta Coating Systems has a one year low of $27.70 and a one year high of $41.66.

Axalta Coating Systems (NYSE:AXTAGet 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

(Get Free Report)

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.

Featured Stories

Analyst Recommendations 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.