Axalta Coating Systems (NYSE:AXTA) Price Target Cut to $41.00 by Analysts at Mizuho

Axalta Coating Systems (NYSE:AXTA) had its price objective lowered by Mizuho from $43.00 to $41.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the specialty chemicals company’s stock.

AXTA has been the subject of several other reports. Citigroup cut shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $45.00 to $41.00 in a report on Wednesday, December 18th. Barclays increased their price target on Axalta Coating Systems from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. BMO Capital Markets boosted their price objective on Axalta Coating Systems from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft decreased their target price on Axalta Coating Systems from $44.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, Evercore ISI started coverage on shares of Axalta Coating Systems in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $47.00 price target on the stock. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Axalta Coating Systems currently has a consensus rating of “Moderate Buy” and an average target price of $42.33.

Axalta Coating Systems Stock Down 1.1 %

Shares of Axalta Coating Systems stock opened at $34.20 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. Axalta Coating Systems has a 1-year low of $30.40 and a 1-year high of $41.65. The business’s fifty day moving average price is $37.96 and its two-hundred day moving average price is $36.21. The company has a market capitalization of $7.46 billion, a P/E ratio of 23.11, a PEG ratio of 0.83 and a beta of 1.46.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings data on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. The company’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the business earned $0.45 earnings per share. As a group, research analysts forecast that Axalta Coating Systems will post 2.16 EPS for the current year.

Institutional Investors Weigh In On Axalta Coating Systems

Several institutional investors have recently made changes to their positions in the company. Millennium Management LLC lifted its stake in Axalta Coating Systems by 89.7% in the second quarter. Millennium Management LLC now owns 2,733,703 shares of the specialty chemicals company’s stock valued at $93,411,000 after acquiring an additional 1,292,434 shares during the last quarter. Interval Partners LP lifted its stake in shares of Axalta Coating Systems by 716.6% in the 2nd quarter. Interval Partners LP now owns 1,224,961 shares of the specialty chemicals company’s stock valued at $41,857,000 after purchasing an additional 1,074,961 shares during the last quarter. PointState Capital LP bought a new stake in Axalta Coating Systems in the third quarter worth $30,257,000. Renaissance Technologies LLC increased its position in Axalta Coating Systems by 59.7% during the second quarter. Renaissance Technologies LLC now owns 1,329,700 shares of the specialty chemicals company’s stock worth $45,436,000 after buying an additional 497,000 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Axalta Coating Systems by 19.5% during the second quarter. The Manufacturers Life Insurance Company now owns 2,914,764 shares of the specialty chemicals company’s stock valued at $99,597,000 after buying an additional 475,493 shares in the last quarter. 98.28% of the stock is currently 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. The company operates through two segments, Performance Coatings and Mobility Coatings.