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

Axalta Coating Systems (NYSE:AXTA) had its target price reduced by Mizuho from $43.00 to $41.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an outperform rating on the specialty chemicals company’s stock.

Several other research firms have also commented on AXTA. BMO Capital Markets boosted their price objective on shares of Axalta Coating Systems from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Royal Bank of Canada boosted their price target on Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. KeyCorp reaffirmed a “sector weight” rating on shares of Axalta Coating Systems in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft dropped their target price on Axalta Coating Systems from $44.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, Barclays raised their price target 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 analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $43.18.

Axalta Coating Systems Stock Performance

Shares of AXTA opened at $34.29 on Tuesday. The company has a 50-day simple moving average of $37.81 and a two-hundred day simple moving average of $36.18. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.00 and a quick ratio of 1.42. The firm has a market capitalization of $7.48 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 0.83 and a beta of 1.46. Axalta Coating Systems has a one year low of $30.40 and a one year 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 analysts’ consensus estimates of $0.51 by $0.08. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.45 earnings per share. On average, analysts anticipate that Axalta Coating Systems will post 2.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Axalta Coating Systems

A number of large investors have recently made changes to their positions in the company. Millennium Management LLC lifted its holdings in Axalta Coating Systems by 89.7% during the second quarter. Millennium Management LLC now owns 2,733,703 shares of the specialty chemicals company’s stock valued at $93,411,000 after purchasing an additional 1,292,434 shares in the last quarter. Interval Partners LP lifted its stake in shares of Axalta Coating Systems by 716.6% during the 2nd quarter. Interval Partners LP now owns 1,224,961 shares of the specialty chemicals company’s stock valued at $41,857,000 after buying an additional 1,074,961 shares in the last quarter. PointState Capital LP bought a new position in Axalta Coating Systems in the 3rd quarter worth $30,257,000. Renaissance Technologies LLC increased its stake in Axalta Coating Systems by 59.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,329,700 shares of the specialty chemicals company’s stock worth $45,436,000 after buying an additional 497,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake 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 worth $99,597,000 after buying an additional 475,493 shares in 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.