Axalta Coating Systems (NYSE:AXTA) Stock Rating Lowered by Citigroup

Citigroup cut shares of Axalta Coating Systems (NYSE:AXTA) from a buy rating to a neutral rating in a report released on Wednesday morning, Marketbeat reports. They currently have $41.00 target price on the specialty chemicals company’s stock, down from their prior target price of $45.00.

AXTA has been the topic of several other research reports. BMO Capital Markets increased their price objective on Axalta Coating Systems from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Mizuho raised their price target on shares of Axalta Coating Systems from $42.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Evercore ISI assumed coverage on shares of Axalta Coating Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $47.00 price objective for the company. Barclays raised their target price on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, KeyCorp reiterated a “sector weight” rating on shares of Axalta Coating Systems in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Axalta Coating Systems has an average rating of “Moderate Buy” and an average target price of $42.50.

Axalta Coating Systems Stock Performance

Shares of AXTA stock opened at $34.40 on Wednesday. Axalta Coating Systems has a 52 week low of $30.40 and a 52 week high of $41.65. The company has a market capitalization of $7.50 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 0.83 and a beta of 1.44. The company has a 50-day simple moving average of $38.37 and a 200 day simple moving average of $36.30. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.42 and a current ratio of 2.00.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings data on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. The company 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 business’s revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.45 earnings per share. On average, sell-side analysts predict that Axalta Coating Systems will post 2.16 earnings per share for the current year.

Institutional Trading of Axalta Coating Systems

Several institutional investors and hedge funds have recently modified their holdings of the business. Plato Investment Management Ltd bought a new position in Axalta Coating Systems in the second quarter valued at about $30,000. True Wealth Design LLC acquired a new stake in shares of Axalta Coating Systems in the 3rd quarter valued at approximately $37,000. First Horizon Advisors Inc. grew its holdings in shares of 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. Millburn Ridgefield Corp acquired a new position in Axalta Coating Systems during the 3rd quarter worth approximately $41,000. Finally, Capital Performance Advisors LLP acquired a new position in Axalta Coating Systems during the 3rd quarter worth approximately $54,000. 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.