Wolfe Research Upgrades Axalta Coating Systems (NYSE:AXTA) to “Outperform”

Axalta Coating Systems (NYSE:AXTA) was upgraded by analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research note issued on Friday, Marketbeat.com reports. The firm currently has a $41.00 price objective on the specialty chemicals company’s stock. Wolfe Research’s target price indicates a potential upside of 13.03% from the stock’s current price.

AXTA has been the subject of a number of other reports. Royal Bank of Canada increased their price target on Axalta Coating Systems from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Evercore ISI began coverage on Axalta Coating Systems in a report on Wednesday, November 13th. They set an “outperform” rating and a $47.00 target price for the company. BMO Capital Markets raised 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. Barclays upped their target price on Axalta Coating Systems from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Mizuho cut their price objective on Axalta Coating Systems from $43.00 to $41.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Axalta Coating Systems Stock Up 1.7 %

Shares of NYSE:AXTA opened at $36.28 on Friday. The stock has a market capitalization of $7.91 billion, a price-to-earnings ratio of 24.51, a price-to-earnings-growth ratio of 0.68 and a beta of 1.46. Axalta Coating Systems has a 1-year low of $30.40 and a 1-year high of $41.65. The company’s fifty day moving average is $37.33 and its two-hundred day moving average is $36.24. 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 EPS for the quarter, topping 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 business earned $0.45 EPS. The firm’s revenue was up .8% on a year-over-year basis. Equities analysts anticipate that Axalta Coating Systems will post 2.15 EPS for the current year.

Institutional Investors Weigh In On Axalta Coating Systems

Institutional investors and hedge funds have recently bought and sold shares of the business. Barrow Hanley Mewhinney & Strauss LLC raised its position in Axalta Coating Systems by 0.9% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 15,009,959 shares of the specialty chemicals company’s stock worth $512,890,000 after purchasing an additional 137,209 shares in the last quarter. State Street Corp grew its stake in Axalta Coating Systems by 0.7% during the third quarter. State Street Corp now owns 6,822,955 shares of the specialty chemicals company’s stock worth $246,923,000 after buying an additional 46,813 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Axalta Coating Systems by 8.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,771,023 shares of the specialty chemicals company’s stock worth $128,852,000 after buying an additional 302,752 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Axalta Coating Systems by 0.9% in the third quarter. Geode Capital Management LLC now owns 3,669,190 shares of the specialty chemicals company’s stock valued at $132,823,000 after acquiring an additional 31,894 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Axalta Coating Systems by 19.5% during 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 acquiring an additional 475,493 shares during the last quarter. Institutional investors own 98.28% of the company’s stock.

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.