Axalta Coating Systems (NYSE:AXTA) Coverage Initiated by Analysts at Evercore ISI

Evercore ISI assumed coverage on shares of Axalta Coating Systems (NYSE:AXTA) in a report published on Wednesday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $47.00 price target on the specialty chemicals company’s stock.

Other research analysts also recently issued research reports about the stock. Robert W. Baird upped their price target on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. KeyCorp increased their target price on Axalta Coating Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. lifted their price target on Axalta Coating Systems from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Royal Bank of Canada boosted their price target on Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Barclays raised their price objective on Axalta Coating Systems from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $42.45.

Axalta Coating Systems Stock Up 2.5 %

Shares of AXTA opened at $40.60 on Wednesday. The company has a current ratio of 2.00, a quick ratio of 1.42 and a debt-to-equity ratio of 1.80. The firm has a market cap of $8.85 billion, a P/E ratio of 27.43, a PEG ratio of 0.85 and a beta of 1.43. The stock’s 50 day moving average is $36.46 and its two-hundred day moving average is $35.51. Axalta Coating Systems has a 12 month low of $30.40 and a 12 month high of $40.76.

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

Institutional Trading of Axalta Coating Systems

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Axalta Coating Systems by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 23,763,601 shares of the specialty chemicals company’s stock worth $817,230,000 after acquiring an additional 554,806 shares during the period. Edgestream Partners L.P. acquired a new stake in Axalta Coating Systems during the first quarter worth about $1,745,000. Entropy Technologies LP purchased a new position in Axalta Coating Systems during the first quarter worth about $686,000. Toronto Dominion Bank acquired a new position in Axalta Coating Systems in the 1st quarter valued at about $12,556,000. Finally, Federated Hermes Inc. grew its stake in shares of Axalta Coating Systems by 3.0% in the 2nd quarter. Federated Hermes Inc. now owns 896,188 shares of the specialty chemicals company’s stock valued at $30,623,000 after buying an additional 25,717 shares during the period. 98.28% of the stock is currently owned by hedge funds and other institutional investors.

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.