Morgan Stanley Has Lowered Expectations for Axalta Coating Systems (NYSE:AXTA) Stock Price

Axalta Coating Systems (NYSE:AXTA) had its price objective lowered by equities researchers at Morgan Stanley from $40.00 to $36.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the specialty chemicals company’s stock. Morgan Stanley’s price target indicates a potential upside of 15.83% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Barclays raised their price target on Axalta Coating Systems from $44.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Citigroup lowered their price target on shares of Axalta Coating Systems from $42.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company raised their price target on shares of Axalta Coating Systems from $37.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday. Mizuho set a $37.00 price objective on shares of Axalta Coating Systems in a research note on Tuesday, April 15th. Finally, JPMorgan Chase & Co. lowered shares of Axalta Coating Systems from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $42.00 to $32.00 in a report on Thursday. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.60.

Axalta Coating Systems Stock Down 0.6 %

Shares of AXTA opened at $31.08 on Thursday. The firm has a market cap of $6.79 billion, a P/E ratio of 17.46, a P/E/G ratio of 0.92 and a beta of 1.35. Axalta Coating Systems has a 1 year low of $27.70 and a 1 year high of $41.66. The stock has a 50 day simple moving average of $32.50 and a two-hundred day simple moving average of $35.55. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.01 and a quick ratio of 1.47.

Axalta Coating Systems (NYSE:AXTA) last released its earnings results on Wednesday, May 7th. The specialty chemicals company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.54 by $0.05. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.29 billion. Axalta Coating Systems had a net margin of 7.41% and a return on equity of 26.29%. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.48 EPS. On average, analysts forecast that Axalta Coating Systems will post 2.55 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Troy D. Weaver sold 10,457 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $37.57, for a total value of $392,869.49. Following the transaction, the insider now owns 74,905 shares of the company’s stock, valued at $2,814,180.85. This represents a 12.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Axalta Coating Systems

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC lifted its stake in shares of Axalta Coating Systems by 50.4% during the 3rd quarter. Barclays PLC now owns 154,483 shares of the specialty chemicals company’s stock worth $5,589,000 after purchasing an additional 51,748 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Axalta Coating Systems during the third quarter valued at about $117,000. Franklin Resources Inc. boosted its holdings in shares of Axalta Coating Systems by 62.7% in the 3rd quarter. Franklin Resources Inc. now owns 138,081 shares of the specialty chemicals company’s stock valued at $5,097,000 after buying an additional 53,222 shares in the last quarter. Eagle Bay Advisors LLC raised its stake in shares of Axalta Coating Systems by 116.3% during the 4th quarter. Eagle Bay Advisors LLC now owns 824 shares of the specialty chemicals company’s stock worth $28,000 after acquiring an additional 443 shares in the last quarter. Finally, Oak Thistle LLC lifted its position in Axalta Coating Systems by 434.3% during the fourth quarter. Oak Thistle LLC now owns 39,535 shares of the specialty chemicals company’s stock valued at $1,353,000 after acquiring an additional 32,135 shares during the last quarter. 98.28% of the stock is currently owned by institutional investors.

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.