Axalta Coating Systems Ltd. (NYSE:AXTA)’s share price hit a new 52-week high on Tuesday after Wells Fargo & Company raised their price target on the stock from $33.00 to $36.00. Wells Fargo & Company currently has an equal weight rating on the stock. Axalta Coating Systems traded as high as $33.10 and last traded at $33.07, with a volume of 2618224 shares changing hands. The stock had previously closed at $32.35.
A number of other equities analysts have also recently issued reports on AXTA. Credit Suisse Group restated an “outperform” rating and issued a $35.00 price objective on shares of Axalta Coating Systems in a research note on Monday, March 22nd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Axalta Coating Systems from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, April 29th. Morgan Stanley increased their price objective on shares of Axalta Coating Systems from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, April 29th. Susquehanna upgraded shares of Axalta Coating Systems from a “neutral” rating to a “positive” rating and set a $41.00 price objective for the company in a research note on Monday. Finally, Zacks Investment Research upgraded shares of Axalta Coating Systems from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Thursday, April 29th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Axalta Coating Systems has a consensus rating of “Buy” and an average price target of $32.62.
In other Axalta Coating Systems news, SVP Barry S. Snyder sold 17,560 shares of the firm’s stock in a transaction dated Wednesday, April 21st. The shares were sold at an average price of $32.00, for a total value of $561,920.00. Following the completion of the sale, the senior vice president now owns 65,296 shares in the company, valued at approximately $2,089,472. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.50% of the company’s stock.
The company has a market cap of $7.70 billion, a P/E ratio of 82.68, a price-to-earnings-growth ratio of 6.12 and a beta of 1.47. The company has a current ratio of 2.68, a quick ratio of 2.17 and a debt-to-equity ratio of 2.90. The firm’s 50 day moving average price is $30.51 and its 200-day moving average price is $28.69.
Axalta Coating Systems (NYSE:AXTA) last issued its earnings results on Sunday, April 25th. The specialty chemicals company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.08. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. Axalta Coating Systems had a net margin of 2.49% and a return on equity of 20.51%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.31 EPS. Analysts predict that Axalta Coating Systems Ltd. will post 1.19 earnings per share for the current fiscal year.
Axalta Coating Systems Company Profile (NYSE:AXTA)
Axalta Coating Systems Ltd. engages in the manufacture, marketing, and distribution of coatings systems. It operates through the Performance Coatings and Transportation Coatings business segments. The Performance Coatings segment provides liquid and powder coatings solutions to a fragmented and local customer base.
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