Axalta Coating Systems (NYSE:AXTA) Issues Quarterly Earnings Results

Axalta Coating Systems (NYSE:AXTA) released its quarterly earnings results on Wednesday. The specialty chemicals company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.40 by $0.08, Briefing.com reports. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. Axalta Coating Systems had a net margin of 4.77% and a return on equity of 21.82%. Axalta Coating Systems’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.35 EPS.

Axalta Coating Systems Price Performance

Shares of NYSE AXTA traded up $0.23 during mid-day trading on Friday, hitting $35.06. 1,484,739 shares of the stock traded hands, compared to its average volume of 2,114,337. The firm has a 50 day simple moving average of $32.78 and a two-hundred day simple moving average of $31.82. Axalta Coating Systems has a twelve month low of $25.03 and a twelve month high of $35.31. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.07 and a quick ratio of 1.46. The company has a market cap of $7.74 billion, a PE ratio of 31.61, a price-to-earnings-growth ratio of 1.10 and a beta of 1.51.

Analyst Upgrades and Downgrades

AXTA has been the topic of several recent analyst reports. UBS Group lowered Axalta Coating Systems from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $35.00 to $36.00 in a research report on Monday, January 8th. Wells Fargo & Company increased their price target on Axalta Coating Systems from $31.00 to $33.00 and gave the company an “equal weight” rating in a report on Tuesday, January 9th. Royal Bank of Canada lifted their target price on Axalta Coating Systems from $39.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. increased their price objective on Axalta Coating Systems from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Barclays boosted their price target on Axalta Coating Systems from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday. One 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.00.

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.