Axalta Coating Systems (NYSE:AXTA) Downgraded to “Buy” Rating by StockNews.com

StockNews.com cut shares of Axalta Coating Systems (NYSE:AXTA) from a strong-buy rating to a buy rating in a research report released on Wednesday morning.

A number of other research firms have also weighed in on AXTA. KeyCorp reissued a “sector weight” rating on shares of Axalta Coating Systems in a research report on Tuesday, December 17th. Citigroup downgraded Axalta Coating Systems from a “buy” rating to a “neutral” rating and cut their price target for the company from $45.00 to $41.00 in a report on Wednesday, December 18th. Evercore ISI began coverage on Axalta Coating Systems in a report on Wednesday, November 13th. They set an “outperform” rating and a $47.00 price objective on the stock. 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 note on Thursday, December 19th. Finally, Royal Bank of Canada raised their price target on Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.08.

Axalta Coating Systems Stock Performance

Axalta Coating Systems stock opened at $36.02 on Wednesday. Axalta Coating Systems has a fifty-two week low of $30.41 and a fifty-two week high of $41.65. The company has a market capitalization of $7.86 billion, a price-to-earnings ratio of 20.23, a PEG ratio of 0.94 and a beta of 1.46. The stock has a fifty day moving average of $35.89 and a two-hundred day moving average of $36.56. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.47 and a current ratio of 2.01.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings data on Tuesday, February 4th. The specialty chemicals company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.09. Axalta Coating Systems had a return on equity of 26.29% and a net margin of 7.41%. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the company earned $0.43 earnings per share. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, analysts anticipate that Axalta Coating Systems will post 2.55 EPS for the current fiscal year.

Insider Activity

In other news, insider Troy D. Weaver sold 10,457 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $37.57, for a total value of $392,869.49. Following the completion of the sale, the insider now owns 74,905 shares of the company’s stock, valued at $2,814,180.85. This represents a 12.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.40% of the company’s stock.

Institutional Trading of Axalta Coating Systems

Institutional investors have recently added to or reduced their stakes in the business. Creative Planning raised its position in Axalta Coating Systems by 33.9% in the third quarter. Creative Planning now owns 11,449 shares of the specialty chemicals company’s stock valued at $414,000 after purchasing an additional 2,898 shares during the period. Raymond James & Associates grew its stake in shares of Axalta Coating Systems by 48.3% in the third quarter. Raymond James & Associates now owns 168,187 shares of the specialty chemicals company’s stock valued at $6,087,000 after buying an additional 54,746 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Axalta Coating Systems by 14.1% during the 3rd quarter. Signaturefd LLC now owns 3,599 shares of the specialty chemicals company’s stock valued at $130,000 after buying an additional 444 shares during the period. Ballentine Partners LLC acquired a new position in Axalta Coating Systems during the 3rd quarter worth approximately $341,000. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Axalta Coating Systems by 41.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,308 shares of the specialty chemicals company’s stock worth $699,000 after acquiring an additional 5,667 shares during the period. 98.28% of the stock is owned by hedge funds and other institutional investors.

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.