Wells Fargo & Company Issues Pessimistic Forecast for Axalta Coating Systems (NYSE:AXTA) Stock Price

Axalta Coating Systems (NYSE:AXTA - Free Report) had its target price trimmed by Wells Fargo & Company from $40.00 to $39.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the specialty chemicals company's stock.

Other equities analysts have also issued reports about the company. The Goldman Sachs Group reduced their target price on Axalta Coating Systems from $46.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. BNP Paribas raised shares of Axalta Coating Systems from a "neutral" rating to an "outperform" rating and set a $38.00 price target for the company in a report on Thursday, April 10th. Barclays lowered their target price on shares of 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. Wall Street Zen lowered Axalta Coating Systems from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, Morgan Stanley decreased their price objective on shares of Axalta Coating Systems from $40.00 to $36.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. Six investment 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.44.

Axalta Coating Systems Stock Performance

Shares of Axalta Coating Systems stock traded up $0.80 during trading on Tuesday, hitting $30.49. 3,278,707 shares of the stock were exchanged, compared to its average volume of 2,093,711. Axalta Coating Systems has a 1-year low of $27.70 and a 1-year high of $41.66. The stock has a market capitalization of $6.66 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 0.84 and a beta of 1.25. The company has a fifty day moving average price of $31.12 and a 200-day moving average price of $33.39. The company has a current ratio of 2.12, a quick ratio of 1.53 and a debt-to-equity ratio of 1.60.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The specialty chemicals company reported $0.59 earnings per share 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 company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the firm posted $0.48 EPS. The firm's quarterly revenue was down 2.5% on a year-over-year basis. As a group, equities analysts predict that Axalta Coating Systems will post 2.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Axalta Coating Systems

Several hedge funds have recently modified their holdings of the business. Proficio Capital Partners LLC purchased a new position in shares of Axalta Coating Systems in the fourth quarter worth $350,000. Mutual of America Capital Management LLC boosted its holdings in Axalta Coating Systems by 0.4% in the 4th quarter. Mutual of America Capital Management LLC now owns 180,143 shares of the specialty chemicals company's stock worth $6,164,000 after buying an additional 657 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Axalta Coating Systems by 60.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,318 shares of the specialty chemicals company's stock worth $45,000 after purchasing an additional 498 shares during the last quarter. Plato Investment Management Ltd lifted its stake in Axalta Coating Systems by 156.4% in the 4th quarter. Plato Investment Management Ltd now owns 2,238 shares of the specialty chemicals company's stock worth $77,000 after purchasing an additional 1,365 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its holdings in shares of Axalta Coating Systems by 24.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,951 shares of the specialty chemicals company's stock valued at $238,000 after purchasing an additional 1,351 shares during the period. Hedge funds and other institutional investors own 98.28% of the company's stock.

About Axalta Coating Systems

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.