Axalta Coating Systems Ltd. (NYSE:AXTA) Given Average Rating of “Moderate Buy” by Brokerages

Axalta Coating Systems Ltd. (NYSE:AXTA) has earned an average rating of “Moderate Buy” from the thirteen brokerages that are covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $43.18.

Several brokerages have recently weighed in on AXTA. KeyCorp reissued a “sector weight” rating on shares of Axalta Coating Systems in a research note on Tuesday, December 17th. Barclays increased their price objective on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft dropped their target price on Axalta Coating Systems from $44.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Evercore ISI assumed coverage on Axalta Coating Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $47.00 price target on the stock. Finally, Citigroup lowered Axalta Coating Systems from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $45.00 to $41.00 in a research note on Wednesday, December 18th.

Hedge Funds Weigh In On Axalta Coating Systems

Several hedge funds and other institutional investors have recently modified their holdings of the stock. First Horizon Advisors Inc. grew its stake in Axalta Coating Systems by 35.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 266 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Axalta Coating Systems by 14.1% during the third quarter. Signaturefd LLC now owns 3,599 shares of the specialty chemicals company’s stock worth $130,000 after purchasing an additional 444 shares during the period. Venturi Wealth Management LLC boosted its position in Axalta Coating Systems by 30.2% in the third quarter. Venturi Wealth Management LLC now owns 1,964 shares of the specialty chemicals company’s stock valued at $71,000 after buying an additional 455 shares during the last quarter. Verdence Capital Advisors LLC increased its holdings in Axalta Coating Systems by 4.4% in the 3rd quarter. Verdence Capital Advisors LLC now owns 11,162 shares of the specialty chemicals company’s stock worth $404,000 after buying an additional 473 shares during the period. Finally, KBC Group NV raised its position in Axalta Coating Systems by 13.9% during the 3rd quarter. KBC Group NV now owns 5,859 shares of the specialty chemicals company’s stock worth $212,000 after buying an additional 716 shares during the last quarter. 98.28% of the stock is owned by hedge funds and other institutional investors.

Axalta Coating Systems Price Performance

NYSE:AXTA opened at $33.76 on Monday. The business’s 50-day moving average is $37.73 and its 200 day moving average is $36.20. Axalta Coating Systems has a 12 month low of $30.40 and a 12 month high of $41.65. The company has a market capitalization of $7.36 billion, a P/E ratio of 22.81, a P/E/G ratio of 0.83 and a beta of 1.46. The company has a current ratio of 2.00, a quick ratio of 1.42 and a debt-to-equity ratio of 1.80.

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

About Axalta Coating Systems

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.