Axalta Coating Systems (NYSE:AXTA) Upgraded at Vertical Research

Axalta Coating Systems (NYSE:AXTA) was upgraded by analysts at Vertical Research from a “hold” rating to a “buy” rating in a research report issued on Thursday, MarketBeat Ratings reports.

AXTA has been the subject of a number of other research reports. Credit Suisse Group decreased their target price on shares of Axalta Coating Systems from $35.00 to $29.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. UBS Group cut their price target on shares of Axalta Coating Systems from $32.00 to $25.00 and set a “buy” rating for the company in a research note on Monday. Wells Fargo & Co cut their price target on shares of Axalta Coating Systems from $31.00 to $20.00 and set an “equal weight” rating for the company in a research note on Thursday. KeyCorp assumed coverage on shares of Axalta Coating Systems in a research note on Wednesday. They issued an “overweight” rating and a $23.00 price target for the company. Finally, Jefferies Financial Group cut shares of Axalta Coating Systems from a “buy” rating to a “hold” rating in a research note on Monday. 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 company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $28.91.

Shares of AXTA stock traded up $0.97 during trading hours on Thursday, hitting $17.49. 352,404 shares of the company were exchanged, compared to its average volume of 4,613,611. The business has a 50 day moving average of $24.33 and a two-hundred day moving average of $28.40. The company has a current ratio of 2.40, a quick ratio of 1.85 and a debt-to-equity ratio of 2.69. Axalta Coating Systems has a 52 week low of $12.92 and a 52 week high of $32.20. The company has a market capitalization of $3.47 billion, a PE ratio of 16.48, a PEG ratio of 1.18 and a beta of 1.46.

Axalta Coating Systems (NYSE:AXTA) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.13 billion. Axalta Coating Systems had a net margin of 5.56% and a return on equity of 31.81%. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period last year, the business posted $0.32 EPS. On average, research analysts forecast that Axalta Coating Systems will post 1.8 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. William Blair Investment Management LLC increased its position in Axalta Coating Systems by 2.3% during the fourth quarter. William Blair Investment Management LLC now owns 3,008,915 shares of the specialty chemicals company’s stock worth $91,471,000 after acquiring an additional 66,242 shares during the period. FMR LLC increased its position in Axalta Coating Systems by 7.2% during the fourth quarter. FMR LLC now owns 2,340,987 shares of the specialty chemicals company’s stock worth $71,166,000 after acquiring an additional 157,133 shares during the period. Geode Capital Management LLC increased its position in Axalta Coating Systems by 6.2% during the fourth quarter. Geode Capital Management LLC now owns 2,270,651 shares of the specialty chemicals company’s stock worth $68,968,000 after acquiring an additional 132,707 shares during the period. Charles Schwab Investment Management Inc. increased its position in Axalta Coating Systems by 47.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,115,462 shares of the specialty chemicals company’s stock worth $64,311,000 after acquiring an additional 677,122 shares during the period. Finally, Norges Bank bought a new position in Axalta Coating Systems during the fourth quarter worth about $61,006,000. Institutional investors own 94.58% 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. 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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