Axalta Coating Systems (NYSE:AXTA) Price Target Lowered to $38.00 at UBS Group

Axalta Coating Systems (NYSE:AXTA) had its target price trimmed by UBS Group from $39.00 to $38.00 in a research note published on Tuesday, Benzinga reports. The firm currently has a neutral rating on the specialty chemicals company’s stock.

AXTA has been the subject of a number of other reports. JPMorgan Chase & Co. increased their price objective on Axalta Coating Systems from $38.00 to $40.00 and gave the stock an overweight rating in a report on Thursday, May 2nd. BMO Capital Markets upped their target price on Axalta Coating Systems from $42.00 to $45.00 and gave the company an outperform rating in a report on Thursday, May 2nd. Wells Fargo & Company raised shares of Axalta Coating Systems from a hold rating to a strong-buy rating in a research note on Tuesday, June 11th. Citigroup lifted their target price on Axalta Coating Systems from $38.00 to $40.00 and gave the company a buy rating in a research note on Wednesday, April 10th. Finally, KeyCorp increased their price objective on Axalta Coating Systems from $38.00 to $40.00 and gave the stock an overweight rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Axalta Coating Systems has an average rating of Moderate Buy and an average target price of $38.50.

Axalta Coating Systems Stock Performance

Shares of AXTA opened at $35.47 on Tuesday. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.07 and a quick ratio of 1.51. Axalta Coating Systems has a 12-month low of $25.03 and a 12-month high of $36.98. The business’s fifty day moving average price is $35.11 and its 200 day moving average price is $33.52. The stock has a market capitalization of $7.83 billion, a PE ratio of 31.95, a price-to-earnings-growth ratio of 0.85 and a beta of 1.44.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.08. Axalta Coating Systems had a return on equity of 21.82% and a net margin of 4.77%. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the business posted $0.35 EPS. The business’s revenue was up 1.3% on a year-over-year basis. Equities research analysts forecast that Axalta Coating Systems will post 1.99 EPS for the current year.

Institutional Trading of Axalta Coating Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Fifth Third Bancorp raised its stake in shares of Axalta Coating Systems by 47.7% in the 4th quarter. Fifth Third Bancorp now owns 1,046 shares of the specialty chemicals company’s stock valued at $36,000 after buying an additional 338 shares in the last quarter. TFO Wealth Partners LLC lifted its stake in shares of Axalta Coating Systems by 12,022.2% in the 4th quarter. TFO Wealth Partners LLC now owns 1,091 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 1,082 shares during the period. Raleigh Capital Management Inc. bought a new position in Axalta Coating Systems during the 4th quarter worth approximately $48,000. GAMMA Investing LLC lifted its holdings in shares of Axalta Coating Systems by 111.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,417 shares of the specialty chemicals company’s stock valued at $48,000 after purchasing an additional 747 shares in the last quarter. Finally, Versant Capital Management Inc acquired a new stake in shares of Axalta Coating Systems in the 2nd quarter valued at about $71,000. 98.28% of the stock is currently owned by institutional investors and hedge funds.

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.