Axalta Coating Systems (NYSE:AXTA) Stock Rating Upgraded by Evercore ISI

Axalta Coating Systems (NYSE:AXTA) was upgraded by equities research analysts at Evercore ISI to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other equities analysts have also issued reports on the stock. BMO Capital Markets lifted their price target on shares of Axalta Coating Systems from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday. Barclays lifted their price objective on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Robert W. Baird boosted their target price on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. boosted their target price on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Finally, Royal Bank of Canada upped their price objective on shares of Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Axalta Coating Systems presently has an average rating of “Buy” and an average price target of $42.45.

Axalta Coating Systems Stock Up 0.1 %

Shares of NYSE AXTA opened at $40.66 on Tuesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.00 and a quick ratio of 1.42. The company has a market cap of $8.87 billion, a P/E ratio of 27.47, a PEG ratio of 0.85 and a beta of 1.43. Axalta Coating Systems has a 1 year low of $30.40 and a 1 year high of $40.91. The firm has a 50-day simple moving average of $36.56 and a two-hundred day simple moving average of $35.54.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.08. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the firm posted $0.45 earnings per share. The company’s revenue was up .8% on a year-over-year basis. Research analysts anticipate that Axalta Coating Systems will post 2.16 earnings per share for the current year.

Institutional Investors Weigh In On Axalta Coating Systems

A number of large investors have recently modified their holdings of the company. First Horizon Advisors Inc. increased its position in shares of Axalta Coating Systems by 35.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 266 shares during the last quarter. Signaturefd LLC increased its position in shares of Axalta Coating Systems by 14.1% in the 3rd quarter. Signaturefd LLC now owns 3,599 shares of the specialty chemicals company’s stock valued at $130,000 after purchasing an additional 444 shares during the last quarter. Wedge Capital Management L L P NC increased its position in shares of Axalta Coating Systems by 0.4% in the 2nd quarter. Wedge Capital Management L L P NC now owns 110,555 shares of the specialty chemicals company’s stock valued at $3,778,000 after purchasing an additional 453 shares during the last quarter. Venturi Wealth Management LLC increased its position in shares of Axalta Coating Systems by 30.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,964 shares of the specialty chemicals company’s stock valued at $71,000 after purchasing an additional 455 shares during the last quarter. Finally, Verdence Capital Advisors LLC increased its position in shares of Axalta Coating Systems by 4.4% in the 3rd quarter. Verdence Capital Advisors LLC now owns 11,162 shares of the specialty chemicals company’s stock valued at $404,000 after purchasing an additional 473 shares during the last quarter. 98.28% of the stock is owned by hedge funds and other institutional investors.

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.