Deutsche Bank Aktiengesellschaft Issues Pessimistic Forecast for Axalta Coating Systems (NYSE:AXTA) Stock Price

Axalta Coating Systems (NYSE:AXTA) had its price target lowered by research analysts at Deutsche Bank Aktiengesellschaft from $44.00 to $42.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the specialty chemicals company’s stock. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 22.09% from the stock’s previous close.

A number of other analysts also recently commented on the company. KeyCorp reissued a “sector weight” rating on shares of Axalta Coating Systems in a research note on Tuesday. Mizuho boosted 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. BMO Capital Markets raised their price objective on shares of Axalta Coating Systems from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Royal Bank of Canada lifted their price objective on shares of Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Evercore ISI assumed coverage on shares of Axalta Coating Systems in a research note on Wednesday, November 13th. They set an “outperform” rating and a $47.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Axalta Coating Systems presently has an average rating of “Moderate Buy” and an average target price of $42.50.

Axalta Coating Systems Stock Down 0.1 %

Axalta Coating Systems stock opened at $34.40 on Thursday. Axalta Coating Systems has a 52 week low of $30.40 and a 52 week high of $41.65. The stock has a market cap 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’s 50-day moving average price is $38.37 and its two-hundred day moving average price is $36.30. The company has a current ratio of 2.00, a quick ratio of 1.42 and a debt-to-equity ratio of 1.80.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings data on Wednesday, October 30th. The specialty chemicals company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the business earned $0.45 earnings per share. On average, analysts expect that Axalta Coating Systems will post 2.16 EPS for the current fiscal year.

Institutional Trading of Axalta Coating Systems

A number of hedge funds have recently modified their holdings of the business. Millennium Management LLC raised its position 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 buying an additional 1,292,434 shares during the period. Interval Partners LP increased its holdings in shares of Axalta Coating Systems by 716.6% in 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 purchasing an additional 1,074,961 shares during the period. PointState Capital LP purchased a new stake in shares of Axalta Coating Systems in the third quarter worth approximately $30,257,000. Victory Capital Management Inc. boosted its holdings in shares of Axalta Coating Systems by 5.6% during the second quarter. Victory Capital Management Inc. now owns 10,403,246 shares of the specialty chemicals company’s stock worth $355,479,000 after purchasing an additional 550,970 shares during the period. Finally, Renaissance Technologies LLC grew its position in Axalta Coating Systems by 59.7% during the second quarter. Renaissance Technologies LLC now owns 1,329,700 shares of the specialty chemicals company’s stock valued at $45,436,000 after purchasing an additional 497,000 shares in the last quarter. Hedge funds and other institutional investors own 98.28% of the company’s stock.

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.