Axalta Coating Systems (NYSE:AXTA) Posts Earnings Results, Beats Expectations By $0.08 EPS

Axalta Coating Systems (NYSE:AXTA) announced its earnings results on Wednesday. The specialty chemicals company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.08, Briefing.com reports. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. Axalta Coating Systems had a net margin of 5.16% and a return on equity of 20.70%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.35 earnings per share.

Axalta Coating Systems Price Performance

Shares of AXTA stock traded up $0.88 during midday trading on Thursday, reaching $35.09. 812,218 shares of the company traded hands, compared to its average volume of 2,072,673. The firm’s 50 day simple moving average is $32.72 and its two-hundred day simple moving average is $31.80. The firm has a market cap of $7.74 billion, a PE ratio of 29.16, a price-to-earnings-growth ratio of 1.02 and a beta of 1.51. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.98 and a quick ratio of 1.46. Axalta Coating Systems has a 1-year low of $25.03 and a 1-year high of $35.15.

Analysts Set New Price Targets

A number of research firms have weighed in on AXTA. JPMorgan Chase & Co. increased their price objective on Axalta Coating Systems from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Robert W. Baird lifted their price objective on shares of Axalta Coating Systems from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday. Wells Fargo & Company upped their price objective on shares of Axalta Coating Systems from $31.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 9th. Mizuho reduced their target price on shares of Axalta Coating Systems from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Wolfe Research initiated coverage on shares of Axalta Coating Systems in a research note on Friday, March 1st. They set a “peer perform” rating on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a 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 $37.23.

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.