Evercore ISI Initiates Coverage on Axalta Coating Systems (NYSE:AXTA)

Equities research analysts at Evercore ISI started coverage on shares of Axalta Coating Systems (NYSE:AXTA) in a note issued to investors on Wednesday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $47.00 price target on the specialty chemicals company’s stock. Evercore ISI’s price objective indicates a potential upside of 15.59% from the company’s current price.

Several other research firms have also recently issued reports on AXTA. Royal Bank of Canada increased their price target on shares of Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Robert W. Baird increased their price objective on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. KeyCorp raised their price target on Axalta Coating Systems from $44.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. upped their price objective on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Finally, Mizuho raised their price target on Axalta Coating Systems from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Axalta Coating Systems currently has an average rating of “Moderate Buy” and an average target price of $42.45.

Axalta Coating Systems Trading Up 0.1 %

AXTA opened at $40.66 on Wednesday. The business has a fifty day moving average price of $36.56 and a 200 day moving average price of $35.54. 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 stock has a market capitalization of $8.87 billion, a price-to-earnings ratio of 27.43, a PEG ratio of 0.85 and a beta of 1.43. Axalta Coating Systems has a 12 month low of $30.40 and a 12 month high of $40.91.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the company posted $0.45 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. Sell-side analysts expect that Axalta Coating Systems will post 2.16 earnings per share for the current fiscal year.

Institutional Trading of Axalta Coating Systems

Large investors have recently added to or reduced their stakes in the business. Plato Investment Management Ltd bought a new stake in Axalta Coating Systems during the second quarter worth approximately $30,000. First Horizon Advisors Inc. grew its holdings in Axalta Coating Systems by 35.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 266 shares during the last quarter. True Wealth Design LLC bought a new position in Axalta Coating Systems in the 3rd quarter worth approximately $37,000. GAMMA Investing LLC increased its position in Axalta Coating Systems by 111.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,417 shares of the specialty chemicals company’s stock worth $48,000 after buying an additional 747 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in shares of Axalta Coating Systems in the third quarter valued at approximately $54,000. 98.28% of the stock is 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.