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

Axalta Coating Systems (NYSE:AXTA) had its target price cut by research analysts at Mizuho from $40.00 to $38.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the specialty chemicals company’s stock. Mizuho’s target price indicates a potential upside of 7.95% from the company’s current price.

AXTA has been the subject of several other research reports. UBS Group lowered shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $35.00 to $36.00 in a research note on Monday, January 8th. JPMorgan Chase & Co. increased their price objective on Axalta Coating Systems from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Wolfe Research assumed coverage on Axalta Coating Systems in a research report on Friday, March 1st. They issued a “peer perform” rating for the company. Citigroup upped their target price on Axalta Coating Systems from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company raised their price target on Axalta Coating Systems from $31.00 to $33.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Axalta Coating Systems has a consensus rating of “Moderate Buy” and an average target price of $38.00.

Axalta Coating Systems Stock Up 1.1 %

Shares of NYSE AXTA traded up $0.37 during midday trading on Thursday, reaching $35.20. 3,991,263 shares of the company’s stock traded hands, compared to its average volume of 2,581,191. The company has a market cap of $7.77 billion, a price-to-earnings ratio of 31.72, a P/E/G ratio of 1.08 and a beta of 1.51. Axalta Coating Systems has a one year low of $25.03 and a one year high of $35.31. The company has a quick ratio of 1.46, a current ratio of 2.07 and a debt-to-equity ratio of 1.92. The stock’s 50 day simple moving average is $32.78 and its 200-day simple moving average is $31.82.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 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 firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the previous year, the company posted $0.35 EPS. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, analysts predict that Axalta Coating Systems will post 1.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fifth Third Bancorp grew its position in Axalta Coating Systems by 47.7% during the 4th quarter. Fifth Third Bancorp now owns 1,046 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 338 shares during the period. TFO Wealth Partners LLC boosted its stake in shares of Axalta Coating Systems by 12,022.2% in the fourth quarter. TFO Wealth Partners LLC now owns 1,091 shares of the specialty chemicals company’s stock worth $37,000 after buying an additional 1,082 shares during the last quarter. Raleigh Capital Management Inc. acquired a new stake in Axalta Coating Systems during the fourth quarter worth about $48,000. CWM LLC raised its position in Axalta Coating Systems by 35.6% during the third quarter. CWM LLC now owns 2,474 shares of the specialty chemicals company’s stock valued at $67,000 after acquiring an additional 649 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in Axalta Coating Systems in the fourth quarter valued at approximately $88,000. 98.28% of the stock is currently owned by institutional investors and hedge funds.

Axalta Coating Systems Company Profile

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.