Axalta Coating Systems (NYSE:AXTA) Stock Rating Upgraded by Wolfe Research

Axalta Coating Systems (NYSE:AXTA) was upgraded by Wolfe Research from a “peer perform” rating to an “outperform” rating in a research report issued on Friday, Marketbeat Ratings reports. The brokerage currently has a $41.00 price objective on the specialty chemicals company’s stock. Wolfe Research’s target price would indicate a potential upside of 13.03% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. BMO Capital Markets upped their price target on Axalta Coating Systems from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Royal Bank of Canada increased their price objective on Axalta Coating Systems from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Mizuho cut their price objective on shares of Axalta Coating Systems from $43.00 to $41.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Evercore ISI assumed coverage on shares of Axalta Coating Systems in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $47.00 target price on the stock. Finally, KeyCorp reissued a “sector weight” rating on shares of Axalta Coating Systems in a research report on Tuesday, December 17th. Three equities research 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Axalta Coating Systems Price Performance

Shares of Axalta Coating Systems stock opened at $36.28 on Friday. The company has a quick ratio of 1.42, a current ratio of 2.00 and a debt-to-equity ratio of 1.80. The business has a 50-day moving average price of $37.33 and a 200 day moving average price of $36.24. The firm has a market cap of $7.91 billion, a PE ratio of 24.51, a P/E/G ratio of 0.68 and a beta of 1.46. Axalta Coating Systems has a twelve month low of $30.40 and a twelve month high of $41.65.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings data on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.08. The company had revenue of $1.32 billion for 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%. Axalta Coating Systems’s revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.45 EPS. Sell-side analysts predict that Axalta Coating Systems will post 2.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Axalta Coating Systems by 0.9% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 15,009,959 shares of the specialty chemicals company’s stock valued at $512,890,000 after purchasing an additional 137,209 shares in the last quarter. State Street Corp boosted its stake in shares of Axalta Coating Systems by 0.7% in the third quarter. State Street Corp now owns 6,822,955 shares of the specialty chemicals company’s stock valued at $246,923,000 after purchasing an additional 46,813 shares during the period. Dimensional Fund Advisors LP grew its holdings in Axalta Coating Systems by 8.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,771,023 shares of the specialty chemicals company’s stock valued at $128,852,000 after purchasing an additional 302,752 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Axalta Coating Systems by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,669,190 shares of the specialty chemicals company’s stock worth $132,823,000 after buying an additional 31,894 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Axalta Coating Systems by 19.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,914,764 shares of the specialty chemicals company’s stock valued at $99,597,000 after buying an additional 475,493 shares during the last quarter. 98.28% of the stock is owned by institutional investors and hedge funds.

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.