Royal Bank Of Canada Has Lowered Expectations for Axalta Coating Systems (NYSE:AXTA) Stock Price

Key Points

• Royal Bank of Canada has lowered its price target for Axalta Coating Systems from **$37.00 to $34.00**, maintaining an "outperform" rating which suggests a potential upside of **22.08%** from the previous close.
• A number of research firms have also downgraded Axalta's stock ratings and price targets recently, including BMO Capital Markets, which reduced its target from **$51.00 to $33.00**.
• Several hedge funds have increased their holdings in Axalta Coating Systems, with institutional investors owning **98.28%** of the company’s stock, indicating strong support from large investors.

Axalta Coating Systems (NYSE:AXTA - Free Report) had its target price trimmed by Royal Bank Of Canada from $37.00 to $34.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has an outperform rating on the specialty chemicals company's stock.

Several other research analysts have also recently weighed in on the company. Citigroup reissued a "neutral" rating and issued a $34.00 price objective (down previously from $35.00) on shares of Axalta Coating Systems in a research report on Friday, June 13th. The Goldman Sachs Group reduced their price target on Axalta Coating Systems from $46.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. JPMorgan Chase & Co. lowered Axalta Coating Systems from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $42.00 to $32.00 in a research report on Thursday, May 8th. Wall Street Zen lowered Axalta Coating Systems from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, Barclays reduced their target price on Axalta Coating Systems from $45.00 to $42.00 and set an "overweight" rating for the company in a report on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $37.71.

Axalta Coating Systems Trading Up 1.3%

Shares of AXTA stock traded up $0.38 on Friday, hitting $28.46. The company had a trading volume of 923,768 shares, compared to its average volume of 2,377,636. The stock's 50-day moving average is $30.01 and its two-hundred day moving average is $32.55. Axalta Coating Systems has a twelve month low of $27.58 and a twelve month high of $41.65. The firm has a market cap of $6.16 billion, a P/E ratio of 13.95, a P/E/G ratio of 1.33 and a beta of 1.27. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.53 and a current ratio of 2.12.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last released its earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.61 by $0.03. Axalta Coating Systems had a return on equity of 25.32% and a net margin of 8.58%. The business had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.33 billion. During the same quarter last year, the firm posted $0.57 earnings per share. The firm's revenue was down 3.4% on a year-over-year basis. On average, equities research analysts anticipate that Axalta Coating Systems will post 2.55 earnings per share for the current fiscal year.

Institutional Trading of Axalta Coating Systems

Hedge funds and other institutional investors have recently made changes to their positions in the company. Financial Management Professionals Inc. lifted its position in shares of Axalta Coating Systems by 11,757.1% during the 1st quarter. Financial Management Professionals Inc. now owns 830 shares of the specialty chemicals company's stock worth $28,000 after purchasing an additional 823 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Axalta Coating Systems by 105.9% in the first quarter. Golden State Wealth Management LLC now owns 949 shares of the specialty chemicals company's stock valued at $31,000 after purchasing an additional 488 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of Axalta Coating Systems during the second quarter valued at approximately $37,000. IFP Advisors Inc purchased a new stake in shares of Axalta Coating Systems during the 2nd quarter valued at $39,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Axalta Coating Systems by 951.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,325 shares of the specialty chemicals company's stock valued at $44,000 after buying an additional 1,199 shares during the period. Institutional investors and hedge funds 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.