BMO Capital Markets lowered shares of Axalta Coating Systems (NYSE:AXTA - Free Report) from an outperform rating to a market perform rating in a research note issued to investors on Wednesday morning, Marketbeat reports. BMO Capital Markets currently has $33.00 price objective on the specialty chemicals company's stock, down from their previous price objective of $51.00.
Other analysts have also recently issued reports about the stock. The Goldman Sachs Group lowered their target price on shares of Axalta Coating Systems from $46.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. JPMorgan Chase & Co. cut shares of Axalta Coating Systems from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $42.00 to $32.00 in a research note on Thursday, May 8th. Mizuho set a $35.00 target price on shares of Axalta Coating Systems and gave the stock an "outperform" rating in a research note on Tuesday. Citigroup reiterated a "neutral" rating and issued a $34.00 target price (down from $35.00) on shares of Axalta Coating Systems in a research note on Friday, June 13th. Finally, Wells Fargo & Company lowered their target price on shares of Axalta Coating Systems from $40.00 to $39.00 and set an "overweight" rating for the company in a research note on Tuesday, July 1st. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $38.80.
Read Our Latest Stock Analysis on Axalta Coating Systems
Axalta Coating Systems Stock Down 1.2%
NYSE AXTA traded down $0.36 during trading on Wednesday, reaching $29.71. 3,746,163 shares of the company's stock traded hands, compared to its average volume of 2,130,960. The company's 50 day simple moving average is $30.67 and its two-hundred day simple moving average is $32.99. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.12 and a quick ratio of 1.53. Axalta Coating Systems has a 12-month low of $27.70 and a 12-month high of $41.66. The firm has a market cap of $6.49 billion, a price-to-earnings ratio of 14.49, a price-to-earnings-growth ratio of 0.84 and a beta of 1.25.
Axalta Coating Systems (NYSE:AXTA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.54 by $0.05. Axalta Coating Systems had a net margin of 8.56% and a return on equity of 26.30%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the firm earned $0.48 EPS. The company's quarterly revenue was down 2.5% compared to the same quarter last year. As a group, sell-side analysts forecast 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 have recently added to or reduced their stakes in AXTA. Financial Management Professionals Inc. raised its position in Axalta Coating Systems by 11,757.1% during the first quarter. Financial Management Professionals Inc. now owns 830 shares of the specialty chemicals company's stock worth $28,000 after acquiring an additional 823 shares during the period. Golden State Wealth Management LLC raised its position in Axalta Coating Systems by 105.9% during the first quarter. Golden State Wealth Management LLC now owns 949 shares of the specialty chemicals company's stock worth $31,000 after acquiring an additional 488 shares during the period. Jones Financial Companies Lllp raised its position in shares of Axalta Coating Systems by 60.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,318 shares of the specialty chemicals company's stock valued at $45,000 after buying an additional 498 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Axalta Coating Systems by 951.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,325 shares of the specialty chemicals company's stock worth $44,000 after buying an additional 1,199 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of Axalta Coating Systems by 31.1% in the first quarter. UMB Bank n.a. now owns 2,744 shares of the specialty chemicals company's stock worth $91,000 after buying an additional 651 shares in the last quarter. 98.28% of the stock is owned by hedge funds and other institutional investors.
About Axalta Coating Systems
(
Get Free Report)
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.
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