Axalta Coating Systems (NYSE:AXTA) Price Target Lowered to $34.00 at Citigroup

Axalta Coating Systems (NYSE:AXTA - Get Free Report) had its price objective reduced by equities researchers at Citigroup from $35.00 to $34.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the specialty chemicals company's stock. Citigroup's price objective would indicate a potential upside of 18.18% from the stock's previous close.

A number of other brokerages have also recently weighed in on AXTA. Mizuho set a $37.00 target price on Axalta Coating Systems in a report on Tuesday, April 15th. Morgan Stanley reduced their price objective on Axalta Coating Systems from $40.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. Barclays reduced their price objective on Axalta Coating Systems from $45.00 to $42.00 and set an "overweight" rating on the stock in a research note on Thursday, May 15th. BNP Paribas upgraded Axalta Coating Systems from a "neutral" rating to an "outperform" rating and set a $38.00 price objective on the stock in a research note on Thursday, April 10th. Finally, Wells Fargo & Company boosted their price objective on Axalta Coating Systems from $37.00 to $40.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.50.

Axalta Coating Systems Trading Down 4.6%

Shares of AXTA stock traded down $1.39 during mid-day trading on Friday, hitting $28.77. 2,786,139 shares of the company's stock were exchanged, compared to its average volume of 2,046,877. Axalta Coating Systems has a fifty-two week low of $27.70 and a fifty-two week high of $41.66. 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 company has a quick ratio of 1.47, a current ratio of 2.01 and a debt-to-equity ratio of 1.74. The stock has a 50-day simple moving average of $31.41 and a two-hundred day simple moving average of $34.34.

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

Institutional Trading of Axalta Coating Systems

A number of hedge funds and other institutional investors have recently modified their holdings of AXTA. American Century Companies Inc. increased its holdings in Axalta Coating Systems by 57.8% in the fourth quarter. American Century Companies Inc. now owns 356,017 shares of the specialty chemicals company's stock valued at $12,183,000 after buying an additional 130,427 shares during the last quarter. Principal Securities Inc. boosted its position in shares of Axalta Coating Systems by 5.5% during the fourth quarter. Principal Securities Inc. now owns 6,378 shares of the specialty chemicals company's stock worth $218,000 after buying an additional 332 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Axalta Coating Systems by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,432,826 shares of the specialty chemicals company's stock worth $49,031,000 after buying an additional 9,572 shares during the period. ING Groep NV bought a new position in Axalta Coating Systems during the 4th quarter valued at $6,160,000. Finally, Proficio Capital Partners LLC bought a new position in Axalta Coating Systems during the 4th quarter valued at $350,000. 98.28% of the stock is owned by hedge funds and other institutional investors.

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.