ValuEngine Downgrades Axalta Coating Systems (NYSE:AXTA) to Sell

Axalta Coating Systems (NYSE:AXTA) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Thursday, ValuEngine reports.

A number of other brokerages have also weighed in on AXTA. Maxim Group started coverage on Axalta Coating Systems in a research report on Wednesday, June 19th. BMO Capital Markets upped their target price on Axalta Coating Systems to $34.00 and gave the stock a “market perform” rating in a research report on Friday, June 21st. KeyCorp upped their target price on Axalta Coating Systems from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. Zacks Investment Research raised Axalta Coating Systems from a “sell” rating to a “hold” rating in a research report on Friday, October 4th. Finally, Berenberg Bank started coverage on Axalta Coating Systems in a research report on Friday, July 12th. They set a “buy” rating and a $35.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $32.08.

Shares of NYSE:AXTA opened at $29.04 on Thursday. The company has a quick ratio of 1.71, a current ratio of 2.32 and a debt-to-equity ratio of 2.92. Axalta Coating Systems has a twelve month low of $21.58 and a twelve month high of $32.20. The stock’s 50 day moving average is $29.63 and its 200-day moving average is $27.99. The firm has a market capitalization of $6.76 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 1.18 and a beta of 1.46.

Axalta Coating Systems (NYSE:AXTA) last issued its earnings results on Thursday, July 25th. The specialty chemicals company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. Axalta Coating Systems had a return on equity of 27.59% and a net margin of 4.45%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the firm earned $0.36 earnings per share. Axalta Coating Systems’s revenue for the quarter was down 4.5% on a year-over-year basis. Equities research analysts anticipate that Axalta Coating Systems will post 1.79 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in AXTA. Nuveen Asset Management LLC bought a new stake in Axalta Coating Systems during the second quarter worth $123,812,000. Senator Investment Group LP bought a new stake in Axalta Coating Systems during the second quarter worth $119,080,000. Renaissance Technologies LLC grew its holdings in Axalta Coating Systems by 73.4% during the second quarter. Renaissance Technologies LLC now owns 4,691,100 shares of the specialty chemicals company’s stock worth $139,654,000 after buying an additional 1,986,400 shares in the last quarter. D. E. Shaw & Co. Inc. grew its holdings in Axalta Coating Systems by 287.0% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,390,566 shares of the specialty chemicals company’s stock worth $41,397,000 after buying an additional 1,031,292 shares in the last quarter. Finally, Marshall Wace North America L.P. grew its holdings in Axalta Coating Systems by 1,340.2% during the first quarter. Marshall Wace North America L.P. now owns 758,712 shares of the specialty chemicals company’s stock worth $19,127,000 after buying an additional 706,032 shares in the last quarter. Institutional investors and hedge funds own 98.32% of the company’s stock.

About Axalta Coating Systems

Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings systems. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers water and solvent borne products and systems that are used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.

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Analyst Recommendations for Axalta Coating Systems (NYSE:AXTA)

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