Axalta Coating Systems (NYSE:AXTA) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Axalta Coating Systems (NYSE:AXTA) from a sell rating to a hold rating in a research note published on Wednesday, Zacks.com reports.

According to Zacks, “Axalta Coating Systems Ltd. is a global coatings company engaged in the manufacturing, marketing and distribution of coatings systems. The company offers waterborne and solvent borne coatings; liquid and powder coatings; and liquid coatings. It provides a range of performance and transportation coatings for manufacturers of light and commercial vehicles, the refinish aftermarket and for many industrial applications. The Company’s products and services include paint, color matching tools, application technologies and customer training, support and business management systems. Axalta Coating Systems Ltd. is headquartered in Philadelphia, Pennsylvania. “

Other analysts have also issued reports about the stock. Royal Bank of Canada lowered their price objective on shares of Axalta Coating Systems from $38.00 to $36.00 and set an outperform rating for the company in a report on Tuesday, September 21st. TheStreet upgraded shares of Axalta Coating Systems from a c+ rating to a b rating in a report on Wednesday, October 13th. Finally, Mizuho initiated coverage on shares of Axalta Coating Systems in a report on Tuesday, October 12th. They set a buy rating and a $40.00 target price for the company. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Axalta Coating Systems presently has an average rating of Buy and a consensus target price of $36.60.

Shares of AXTA opened at $32.74 on Wednesday. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.97 and a quick ratio of 1.44. Axalta Coating Systems has a one year low of $26.42 and a one year high of $34.20. The company has a 50-day simple moving average of $32.30 and a two-hundred day simple moving average of $30.95. The firm has a market capitalization of $7.48 billion, a PE ratio of 27.28, a price-to-earnings-growth ratio of 0.84 and a beta of 1.41.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings data on Sunday, October 24th. The specialty chemicals company reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.05. Axalta Coating Systems had a net margin of 6.44% and a return on equity of 30.83%. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the business posted $0.59 earnings per share. Axalta Coating Systems’s quarterly revenue was up 6.0% compared to the same quarter last year. Analysts expect that Axalta Coating Systems will post 1.76 EPS for the current fiscal year.

In related news, SVP Troy D. Weaver sold 24,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 2nd. The shares were sold at an average price of $31.46, for a total transaction of $755,040.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Guyasuta Investment Advisors Inc. grew its position in Axalta Coating Systems by 0.9% in the 3rd quarter. Guyasuta Investment Advisors Inc. now owns 36,400 shares of the specialty chemicals company’s stock worth $1,063,000 after purchasing an additional 335 shares during the period. Panagora Asset Management Inc. grew its position in Axalta Coating Systems by 5.3% in the 3rd quarter. Panagora Asset Management Inc. now owns 8,071 shares of the specialty chemicals company’s stock worth $236,000 after purchasing an additional 403 shares during the period. WINTON GROUP Ltd grew its position in Axalta Coating Systems by 3.1% in the 2nd quarter. WINTON GROUP Ltd now owns 13,460 shares of the specialty chemicals company’s stock worth $410,000 after purchasing an additional 411 shares during the period. Pinnacle Bancorp Inc. grew its position in Axalta Coating Systems by 35.0% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 1,796 shares of the specialty chemicals company’s stock worth $52,000 after purchasing an additional 466 shares during the period. Finally, CIBC Asset Management Inc grew its position in Axalta Coating Systems by 7.0% in the 3rd quarter. CIBC Asset Management Inc now owns 9,588 shares of the specialty chemicals company’s stock worth $280,000 after purchasing an additional 629 shares during the period. 97.30% of the stock is owned by institutional investors.

Axalta Coating Systems Company Profile

Axalta Coating Systems Ltd. engages in the manufacture, marketing, and distribution of coatings systems. It operates through the Performance Coatings and Transportation Coatings business segments. The Performance Coatings segment provides liquid and powder coatings solutions to a fragmented and local customer base.

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Analyst Recommendations for Axalta Coating Systems (NYSE:AXTA)

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