Axalta Coating Systems (NYSE:AXTA) Price Target Cut to $34.00 by Analysts at Citigroup

Axalta Coating Systems (NYSE:AXTA) had its target price cut by Citigroup from $35.00 to $34.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a neutral rating on the specialty chemicals company’s stock.

A number of other analysts have also commented on the company. Wells Fargo & Company boosted their price target on Axalta Coating Systems from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Wall Street Zen lowered Axalta Coating Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 8th. Barclays cut their price target on Axalta Coating Systems from $45.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday, May 15th. Morgan Stanley cut their price target on Axalta Coating Systems from $40.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, May 8th. Finally, Mizuho set a $37.00 price target on Axalta Coating Systems in a report on Tuesday, April 15th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $40.50.

Axalta Coating Systems Stock Down 4.6%

NYSE:AXTA opened at $28.77 on Friday. Axalta Coating Systems has a 1 year low of $27.70 and a 1 year high of $41.66. 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 stock has a market cap of $6.29 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 0.92 and a beta of 1.27. The stock has a 50-day moving average price of $31.42 and a two-hundred day moving average price of $34.26.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings results on Wednesday, May 7th. The specialty chemicals company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 26.29% and a net margin of 7.41%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.48 earnings per share. As a group, equities analysts expect that Axalta Coating Systems will post 2.55 earnings per share for the current year.

Institutional Trading of Axalta Coating Systems

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Securities Inc. raised its stake in Axalta Coating Systems by 5.5% in the fourth quarter. Principal Securities Inc. now owns 6,378 shares of the specialty chemicals company’s stock valued at $218,000 after buying an additional 332 shares during the period. CIBC Asset Management Inc raised its stake in Axalta Coating Systems by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 6,744 shares of the specialty chemicals company’s stock valued at $231,000 after buying an additional 334 shares during the period. ProShare Advisors LLC raised its stake in Axalta Coating Systems by 2.9% in the fourth quarter. ProShare Advisors LLC now owns 12,242 shares of the specialty chemicals company’s stock valued at $419,000 after buying an additional 343 shares during the period. Fifth Third Bancorp raised its stake in Axalta Coating Systems by 12.1% in the first quarter. Fifth Third Bancorp now owns 3,704 shares of the specialty chemicals company’s stock valued at $123,000 after buying an additional 401 shares during the period. Finally, Xponance Inc. raised its stake in Axalta Coating Systems by 1.6% in the first quarter. Xponance Inc. now owns 25,360 shares of the specialty chemicals company’s stock valued at $841,000 after buying an additional 407 shares during the period. Institutional investors own 98.28% 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 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.