Axalta Coating Systems (NYSE:AXTA) Sets New 12-Month High at $34.46

Axalta Coating Systems Ltd. (NYSE:AXTA) shares reached a new 52-week high during trading on Thursday . The company traded as high as $34.46 and last traded at $34.44, with a volume of 724274 shares trading hands. The stock had previously closed at $34.28.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wolfe Research initiated coverage on shares of Axalta Coating Systems in a research note on Friday, March 1st. They set a “peer perform” rating for the company. UBS Group cut shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and increased their price target for the company from $35.00 to $36.00 in a report on Monday, January 8th. Wells Fargo & Company raised their price target on shares of Axalta Coating Systems from $31.00 to $33.00 and gave the company an “equal weight” rating in a report on Tuesday, January 9th. Finally, JPMorgan Chase & Co. increased their target price on Axalta Coating Systems from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Friday, February 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $34.42.

Axalta Coating Systems Price Performance

The company has a quick ratio of 1.46, a current ratio of 1.98 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $7.57 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 1.30 and a beta of 1.50. The stock’s 50-day simple moving average is $32.54 and its two-hundred day simple moving average is $30.86.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings data on Thursday, February 8th. The specialty chemicals company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.01). The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. Axalta Coating Systems had a net margin of 5.16% and a return on equity of 20.70%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.38 earnings per share. Equities research analysts predict that Axalta Coating Systems Ltd. will post 1.88 earnings per share for the current year.

Institutional Trading of Axalta Coating Systems

A number of hedge funds and other institutional investors have recently modified their holdings of AXTA. Fifth Third Bancorp grew its holdings in shares of Axalta Coating Systems by 47.7% in the fourth quarter. Fifth Third Bancorp now owns 1,046 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 338 shares during the period. Prospera Financial Services Inc boosted its holdings in Axalta Coating Systems by 3.5% in the 1st quarter. Prospera Financial Services Inc now owns 12,219 shares of the specialty chemicals company’s stock valued at $370,000 after purchasing an additional 415 shares during the last quarter. Ethic Inc. grew its stake in shares of Axalta Coating Systems by 0.8% in the 4th quarter. Ethic Inc. now owns 57,697 shares of the specialty chemicals company’s stock valued at $1,960,000 after buying an additional 483 shares during the period. Dana Investment Advisors Inc. increased its holdings in shares of Axalta Coating Systems by 2.7% during the 2nd quarter. Dana Investment Advisors Inc. now owns 18,626 shares of the specialty chemicals company’s stock worth $611,000 after buying an additional 485 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its position in shares of Axalta Coating Systems by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 97,171 shares of the specialty chemicals company’s stock valued at $2,614,000 after buying an additional 490 shares during the period. 98.28% of the stock is owned by institutional investors and hedge funds.

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. It operates through two segments, Performance Coatings and Mobility Coatings. The company offers water and solvent-borne products and systems to repair damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.