Mizuho Cuts Axalta Coating Systems (NYSE:AXTA) Price Target to $41.00

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

A number of other equities analysts have also recently commented on AXTA. Evercore ISI assumed coverage on shares of Axalta Coating Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $47.00 price target for the company. BMO Capital Markets upped their target price on shares of Axalta Coating Systems from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Citigroup downgraded Axalta Coating Systems from a “buy” rating to a “neutral” rating and lowered their price target for the company from $45.00 to $41.00 in a research report on Wednesday, December 18th. Royal Bank of Canada upped their price objective on Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Barclays raised their price objective on Axalta Coating Systems from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Axalta Coating Systems presently has a consensus rating of “Moderate Buy” and an average price target of $43.18.

Axalta Coating Systems Stock Up 0.2 %

AXTA opened at $34.29 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 one year low of $30.40 and a one year high of $41.65. The firm has a market capitalization of $7.48 billion, a P/E ratio of 23.17, a price-to-earnings-growth ratio of 0.83 and a beta of 1.46. The company has a fifty day moving average price of $37.81 and a 200-day moving average price of $36.18.

Axalta Coating Systems (NYSE:AXTA) last posted its 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. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. The firm’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. Equities research analysts expect that Axalta Coating Systems will post 2.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Axalta Coating Systems

Several institutional investors have recently added to or reduced their stakes in AXTA. Lord Abbett & CO. LLC raised its stake in shares of Axalta Coating Systems by 5.8% during the third quarter. Lord Abbett & CO. LLC now owns 445,836 shares of the specialty chemicals company’s stock valued at $16,135,000 after acquiring an additional 24,402 shares during the last quarter. Franklin Resources Inc. raised its position in Axalta Coating Systems by 62.7% during the 3rd quarter. Franklin Resources Inc. now owns 138,081 shares of the specialty chemicals company’s stock valued at $5,097,000 after purchasing an additional 53,222 shares during the last quarter. Tidal Investments LLC lifted its holdings in Axalta Coating Systems by 12.9% in the 3rd quarter. Tidal Investments LLC now owns 52,330 shares of the specialty chemicals company’s stock worth $1,894,000 after buying an additional 5,988 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Axalta Coating Systems in the 3rd quarter worth approximately $117,000. Finally, Sanctuary Advisors LLC grew its position in shares of Axalta Coating Systems by 6.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 18,452 shares of the specialty chemicals company’s stock worth $668,000 after buying an additional 1,169 shares during the last quarter. Hedge funds and other institutional investors 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.