Axalta Coating Systems (NYSE:AXTA) PT Lowered to $38.00 at Mizuho

Axalta Coating Systems (NYSE:AXTA) had its price target cut by Mizuho from $40.00 to $38.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a buy rating on the specialty chemicals company’s stock.

Several other analysts have also recently commented on AXTA. UBS Group cut shares of Axalta Coating Systems from a buy rating to a neutral rating and upped their target price for the company from $35.00 to $36.00 in a research report on Monday, January 8th. Wells Fargo & Company increased their target price on Axalta Coating Systems from $31.00 to $33.00 and gave the company an equal weight rating in a research note on Tuesday, January 9th. Citigroup boosted their target price on Axalta Coating Systems from $38.00 to $40.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. Wolfe Research started coverage on shares of Axalta Coating Systems in a research report on Friday, March 1st. They issued a peer perform rating on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Axalta Coating Systems from $35.00 to $38.00 and gave the stock an overweight rating in a research note on Friday, February 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $38.00.

Axalta Coating Systems Price Performance

Axalta Coating Systems stock opened at $35.20 on Thursday. The stock has a market cap of $7.77 billion, a price-to-earnings ratio of 31.71, a P/E/G ratio of 1.09 and a beta of 1.51. Axalta Coating Systems has a 12-month low of $25.03 and a 12-month high of $35.31. The company has a quick ratio of 1.46, a current ratio of 2.07 and a debt-to-equity ratio of 1.92. The business’s 50-day simple moving average is $32.84 and its 200 day simple moving average is $31.88.

Axalta Coating Systems (NYSE:AXTA) last issued its earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.08. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.29 billion. Axalta Coating Systems had a net margin of 4.77% and a return on equity of 21.82%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.35 EPS. As a group, research analysts anticipate that Axalta Coating Systems will post 1.99 earnings per share for the current year.

Institutional Trading of Axalta Coating Systems

A number of institutional investors have recently modified their holdings of AXTA. Wellington Management Group LLP raised its position in Axalta Coating Systems by 9.0% in the 3rd quarter. Wellington Management Group LLP now owns 4,657,696 shares of the specialty chemicals company’s stock valued at $125,292,000 after buying an additional 382,949 shares during the last quarter. Hawk Ridge Capital Management LP raised its holdings in shares of Axalta Coating Systems by 49.3% in the third quarter. Hawk Ridge Capital Management LP now owns 2,952,198 shares of the specialty chemicals company’s stock valued at $79,414,000 after purchasing an additional 974,973 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Axalta Coating Systems by 11.7% in the third quarter. JPMorgan Chase & Co. now owns 13,470,860 shares of the specialty chemicals company’s stock worth $362,366,000 after purchasing an additional 1,415,723 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Axalta Coating Systems by 11.5% during the third quarter. The Manufacturers Life Insurance Company now owns 2,644,246 shares of the specialty chemicals company’s stock worth $71,130,000 after purchasing an additional 272,455 shares during the last quarter. Finally, Prospector Partners LLC boosted its holdings in Axalta Coating Systems by 10.2% during the third quarter. Prospector Partners LLC now owns 323,930 shares of the specialty chemicals company’s stock worth $8,714,000 after purchasing an additional 29,930 shares during the last quarter. 98.28% of the stock is currently owned by institutional investors.

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.