Credit Suisse Group Reaffirms Buy Rating for Axalta Coating Systems (NYSE:AXTA)

Credit Suisse Group reiterated their buy rating on shares of Axalta Coating Systems (NYSE:AXTA) in a research note issued to investors on Thursday morning, AnalystRatings.com reports. Credit Suisse Group currently has a $28.00 price target on the specialty chemicals company’s stock.

Several other brokerages have also recently commented on AXTA. UBS Group upped their target price on shares of Axalta Coating Systems from $23.00 to $24.00 and gave the company a buy rating in a research report on Wednesday, May 6th. Exane BNP Paribas raised Axalta Coating Systems from a neutral rating to an outperform rating in a research note on Wednesday, April 1st. Citigroup decreased their target price on Axalta Coating Systems from $28.00 to $27.00 and set a buy rating for the company in a research report on Thursday. BMO Capital Markets cut their price target on shares of Axalta Coating Systems from $35.00 to $28.00 and set an outperform rating on the stock in a research report on Thursday, April 2nd. Finally, KeyCorp boosted their price objective on shares of Axalta Coating Systems from $25.00 to $28.00 and gave the company an overweight rating in a report on Monday, July 13th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $25.64.

Axalta Coating Systems stock opened at $22.20 on Thursday. The business’s 50-day simple moving average is $22.50 and its 200 day simple moving average is $22.76. The company has a quick ratio of 1.58, a current ratio of 2.88 and a debt-to-equity ratio of 3.16. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of 67.27, a P/E/G ratio of 17.35 and a beta of 1.60. Axalta Coating Systems has a 12-month low of $12.92 and a 12-month high of $32.20.

Axalta Coating Systems (NYSE:AXTA) last issued its earnings results on Wednesday, July 29th. The specialty chemicals company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The business had revenue of $652.70 million during the quarter, compared to the consensus estimate of $625.17 million. Axalta Coating Systems had a net margin of 1.99% and a return on equity of 19.38%. The firm’s revenue for the quarter was down 43.6% compared to the same quarter last year. During the same period last year, the business posted $0.52 EPS. As a group, sell-side analysts expect that Axalta Coating Systems will post 0.81 EPS for the current year.

Several institutional investors have recently modified their holdings of AXTA. Boyar Asset Management Inc. acquired a new position in shares of Axalta Coating Systems during the second quarter worth about $225,000. Signaturefd LLC grew its stake in shares of Axalta Coating Systems by 58.1% during the 2nd quarter. Signaturefd LLC now owns 1,260 shares of the specialty chemicals company’s stock worth $28,000 after acquiring an additional 463 shares in the last quarter. Raymond James & Associates lifted its position in shares of Axalta Coating Systems by 119.7% in the second quarter. Raymond James & Associates now owns 155,154 shares of the specialty chemicals company’s stock worth $3,500,000 after purchasing an additional 84,525 shares in the last quarter. SeaBridge Investment Advisors LLC boosted its holdings in Axalta Coating Systems by 3.8% during the second quarter. SeaBridge Investment Advisors LLC now owns 59,816 shares of the specialty chemicals company’s stock worth $1,349,000 after purchasing an additional 2,199 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its stake in Axalta Coating Systems by 14.2% in the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 23,427 shares of the specialty chemicals company’s stock valued at $528,000 after buying an additional 2,913 shares during the last quarter. Institutional investors own 94.03% of the company’s stock.

About Axalta Coating Systems

Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings systems. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers water and solvent borne products and systems that are used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.

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Analyst Recommendations for Axalta Coating Systems (NYSE:AXTA)

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