Axalta Coating Systems (NYSE:AXTA) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Axalta Coating Systems (NYSE:AXTA) from a buy rating to a hold rating in a report released on Saturday morning,Wall Street Zen reports.

Other research analysts have also issued research reports about the company. The Goldman Sachs Group restated a “buy” rating and set a $38.00 price objective on shares of Axalta Coating Systems in a report on Friday, October 9th. UBS Group dropped their target price on Axalta Coating Systems from $39.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, October 5th. Royal Bank Of Canada upped their target price on Axalta Coating Systems from $34.00 to $36.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 8th. BMO Capital Markets reiterated a “market perform” rating on shares of Axalta Coating Systems in a research report on Monday, September 21st. Finally, KeyCorp reissued an “overweight” rating on shares of Axalta Coating Systems in a research note on Monday, October 5th. Five investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $38.45.

Axalta Coating Systems Price Performance

Axalta Coating Systems stock opened at $35.84 on Friday. The firm’s 50-day moving average is $33.99 and its two-hundred day moving average is $32.36. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.53 and a quick ratio of 1.12. The stock has a market capitalization of $7.67 billion, a P/E ratio of 13.64, a P/E/G ratio of 1.87 and a beta of 1.26. Axalta Coating Systems has a 12-month low of $24.94 and a 12-month high of $38.61.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings data 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 net margin of 6.78% and a return on equity of 22.35%. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the previous year, the company posted $0.67 EPS. The business’s quarterly revenue was up 1.8% on a year-over-year basis. Equities analysts predict that Axalta Coating Systems will post 2.45 earnings per share for the current year.

Hedge Funds Weigh In On Axalta Coating Systems

A number of hedge funds have recently made changes to their positions in the stock. Aurora Investment Counsel purchased a new stake in Axalta Coating Systems during the second quarter valued at about $1,749,000. MAC Alpha Capital Management LP grew its holdings in shares of 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 worth $22,096,000 after purchasing an additional 203,243 shares during the period. Amundi grew its holdings in shares of Axalta Coating Systems by 32.0% during the 2nd quarter. Amundi now owns 841,326 shares of the specialty chemicals company’s stock worth $28,790,000 after purchasing an additional 203,829 shares during the period. Bank of America Corp DE acquired a new stake in Axalta Coating Systems during the 2nd quarter worth approximately $19,763,000. Finally, Maven Securities LTD purchased a new position in Axalta Coating Systems in the second quarter valued at approximately $1,199,000. Institutional investors and hedge funds own 98.28% of the company’s stock.

Axalta Coating Systems Company Profile

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.