According to Zacks, “Axalta Coating Systems Ltd. is a global coatings company engaged in the manufacturing, marketing and distribution of coatings systems. The company offers waterborne and solvent borne coatings; liquid and powder coatings; and liquid coatings. It provides a range of performance and transportation coatings for manufacturers of light and commercial vehicles, the refinish aftermarket and for many industrial applications. The Company’s products and services include paint, color matching tools, application technologies and customer training, support and business management systems. Axalta Coating Systems Ltd. is headquartered in Philadelphia, Pennsylvania. “
Other analysts have also issued research reports about the stock. Bank of America lowered shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating in a research note on Friday, August 16th. Berenberg Bank initiated coverage on shares of Axalta Coating Systems in a research note on Friday, July 12th. They issued a “buy” rating and a $35.00 price target for the company. Wells Fargo & Co initiated coverage on shares of Axalta Coating Systems in a research note on Tuesday, October 15th. They issued a “market perform” rating and a $31.00 price target for the company. JPMorgan Chase & Co. upgraded shares of Axalta Coating Systems from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $31.00 to $33.00 in a research note on Friday. Finally, TheStreet upgraded shares of Axalta Coating Systems from a “c+” rating to a “b” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $32.67.
Shares of AXTA traded up $0.38 during mid-day trading on Monday, reaching $29.77. 3,816,073 shares of the stock traded hands, compared to its average volume of 2,254,059. The company has a quick ratio of 1.71, a current ratio of 2.32 and a debt-to-equity ratio of 2.92. The stock has a fifty day simple moving average of $29.87 and a 200 day simple moving average of $28.22. The firm has a market cap of $6.88 billion, a price-to-earnings ratio of 23.26, a P/E/G ratio of 1.26 and a beta of 1.46. Axalta Coating Systems has a 12-month low of $21.58 and a 12-month high of $32.20.
Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings results on Thursday, October 24th. The specialty chemicals company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.12 billion. Axalta Coating Systems had a net margin of 6.21% and a return on equity of 31.29%. The business’s revenue was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.40 earnings per share. On average, equities research analysts expect that Axalta Coating Systems will post 1.79 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC boosted its holdings in Axalta Coating Systems by 639.8% in the second quarter. Parallel Advisors LLC now owns 910 shares of the specialty chemicals company’s stock worth $27,000 after purchasing an additional 787 shares during the period. NEXT Financial Group Inc boosted its holdings in Axalta Coating Systems by 633.3% in the second quarter. NEXT Financial Group Inc now owns 1,100 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 950 shares during the period. Hexavest Inc. acquired a new position in Axalta Coating Systems in the second quarter worth $46,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Axalta Coating Systems in the second quarter worth $57,000. Finally, SRS Capital Advisors Inc. acquired a new position in Axalta Coating Systems in the second quarter worth $58,000. 98.26% of the stock is owned by hedge funds and other institutional investors.
About Axalta Coating Systems
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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