Axalta Coating Systems (NYSE:AXTA) Coverage Initiated by Analysts at Evercore ISI

Evercore ISI initiated coverage on shares of Axalta Coating Systems (NYSE:AXTA) in a report issued on Wednesday, Marketbeat reports. The brokerage issued an outperform rating and a $47.00 target price on the specialty chemicals company’s stock.

A number of other brokerages have also recently weighed in on AXTA. Royal Bank of Canada increased their price target on shares of Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. increased their target price on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Robert W. Baird boosted their price target on Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Barclays increased their price objective on Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, Mizuho lifted their target price on Axalta Coating Systems from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $42.45.

Axalta Coating Systems Stock Down 0.9 %

AXTA opened at $40.30 on Wednesday. Axalta Coating Systems has a one year low of $30.40 and a one year high of $40.91. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.42 and a current ratio of 2.00. The stock has a market capitalization of $8.79 billion, a P/E ratio of 27.23, a price-to-earnings-growth ratio of 0.87 and a beta of 1.43. The business’s 50-day simple moving average is $36.68 and its 200-day simple moving average is $35.58.

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

Institutional Investors Weigh In On Axalta Coating Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Axalta Coating Systems by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 23,763,601 shares of the specialty chemicals company’s stock valued at $817,230,000 after purchasing an additional 554,806 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Axalta Coating Systems during the 1st quarter valued at approximately $1,745,000. Entropy Technologies LP acquired a new stake in shares of Axalta Coating Systems during the 1st quarter valued at approximately $686,000. Toronto Dominion Bank purchased a new stake in shares of Axalta Coating Systems during the 1st quarter worth approximately $12,556,000. Finally, Federated Hermes Inc. grew its holdings in shares of Axalta Coating Systems by 3.0% in the 2nd quarter. Federated Hermes Inc. now owns 896,188 shares of the specialty chemicals company’s stock worth $30,623,000 after acquiring an additional 25,717 shares during the period. Institutional investors and hedge funds own 98.28% of the company’s stock.

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.