Axalta Coating Systems (NYSE:AXTA – Get Free Report) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday, Zacks reports.
Several other equities analysts have also recently commented on the stock. Royal Bank Of Canada lowered their target price on shares of Axalta Coating Systems from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Monday. Wall Street Zen cut shares of Axalta Coating Systems from a “buy” rating to a “hold” rating in a report on Saturday, October 31st. Barclays lowered their price objective on shares of Axalta Coating Systems from $45.00 to $44.00 and set an “overweight” rating on the stock in a research note on Friday, October 30th. Weiss Ratings upgraded shares of Axalta Coating Systems from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 16th. Finally, Robert W. Baird boosted their target price on Axalta Coating Systems from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Five investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Axalta Coating Systems presently has an average rating of “Hold” and a consensus target price of $38.45.
Check Out Our Latest Stock Analysis on AXTA
Axalta Coating Systems Stock Up 6.5%
Shares of Axalta Coating Systems stock opened at $37.48 on Tuesday. The business’s fifty day moving average price is $33.99 and its two-hundred day moving average price is $32.39. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.53 and a quick ratio of 1.11. The company has a market capitalization of $8.02 billion, a P/E ratio of 24.18, a PEG ratio of 2.23 and a beta of 1.25. Axalta Coating Systems has a 1-year low of $24.94 and a 1-year high of $38.61.
Axalta Coating Systems (NYSE:AXTA – Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The specialty chemicals company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.07). Axalta Coating Systems had a return on equity of 21.28% and a net margin of 6.46%. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the company posted $0.67 EPS. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, research analysts forecast that Axalta Coating Systems will post 2.46 EPS for the current year.
Hedge Funds Weigh In On Axalta Coating Systems
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Aurora Investment Counsel acquired a new stake in Axalta Coating Systems during the 2nd quarter worth about $1,749,000. MAC Alpha Capital Management LP grew its stake in Axalta Coating Systems by 45.9% during the 2nd quarter. MAC Alpha Capital Management LP now owns 645,643 shares of the specialty chemicals company’s stock valued at $22,096,000 after acquiring an additional 203,243 shares in the last quarter. Amundi increased its holdings in shares of Axalta Coating Systems by 32.0% in the 2nd quarter. Amundi now owns 841,326 shares of the specialty chemicals company’s stock valued at $28,790,000 after purchasing an additional 203,829 shares during the period. Bank of America Corp DE acquired a new position in shares of Axalta Coating Systems in the 2nd quarter valued at about $19,763,000. Finally, Maven Securities LTD purchased a new stake in shares of Axalta Coating Systems in the second quarter worth approximately $1,199,000. Institutional investors and hedge funds own 98.28% of the company’s stock.
About Axalta Coating Systems
Axalta Coating Systems Ltd. (NYSE: AXTA) develops, manufactures and sells coatings and coating technologies designed to protect, enhance and improve the appearance of vehicles, equipment and industrial products. Its offerings include liquid, powder and electrocoat products, along with related color-management tools, application technologies and technical services.
The company serves several markets, including automotive original equipment manufacturers, automotive refinish businesses, commercial transportation, industrial equipment, architecture and general manufacturing.
Read More
- Five stocks we like better than Axalta Coating Systems
- Why ExxonMobil and Chevron Reminded Investors to Keep it Simple
- Amazon Has Erased Its Earnings Sell-Off, But Is the Biggest Opportunity Still Ahead?
- onsemi’s AI Sales Surge 175%: Is a Stock Recovery Next?
- Energy Transfer’s Earnings Miss May Be Hiding Its Strongest Advantage
Receive News & Ratings for Axalta Coating Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axalta Coating Systems and related companies with MarketBeat.com's FREE daily email newsletter.
