Axalta Coating Systems (NYSE:AXTA) Stock Rating Lowered by Citigroup

Axalta Coating Systems (NYSE:AXTA) was downgraded by stock analysts at Citigroup from a “buy” rating to a “neutral” rating in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. They presently have a $41.00 price objective on the specialty chemicals company’s stock, down from their prior price objective of $45.00. Citigroup’s price target indicates a potential upside of 12.67% from the company’s current price.

Other equities analysts also recently issued reports about the company. Royal Bank of Canada raised their price objective on Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. BMO Capital Markets raised their price target on shares of Axalta Coating Systems from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. KeyCorp reiterated a “sector weight” rating on shares of Axalta Coating Systems in a research note on Tuesday. Evercore ISI initiated coverage on shares of Axalta Coating Systems in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $47.00 price objective for the company. Finally, Barclays upped their price target on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.55.

Axalta Coating Systems Stock Performance

Axalta Coating Systems stock opened at $36.39 on Wednesday. The stock has a fifty day moving average price of $38.50 and a 200 day moving average price of $36.33. Axalta Coating Systems has a 52 week low of $30.40 and a 52 week high of $41.65. The firm has a market capitalization of $7.94 billion, a P/E ratio of 24.59, a PEG ratio of 0.83 and a beta of 1.44. The company has a current ratio of 2.00, a quick ratio of 1.42 and a debt-to-equity ratio of 1.80.

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

Institutional Investors Weigh In On Axalta Coating Systems

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lord Abbett & CO. LLC increased its holdings in shares of Axalta Coating Systems by 5.8% in the 3rd quarter. Lord Abbett & CO. LLC now owns 445,836 shares of the specialty chemicals company’s stock valued at $16,135,000 after acquiring an additional 24,402 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Axalta Coating Systems by 62.7% in the third quarter. Franklin Resources Inc. now owns 138,081 shares of the specialty chemicals company’s stock worth $5,097,000 after purchasing an additional 53,222 shares during the period. Tidal Investments LLC increased its stake in Axalta Coating Systems by 12.9% during the third quarter. Tidal Investments LLC now owns 52,330 shares of the specialty chemicals company’s stock valued at $1,894,000 after purchasing an additional 5,988 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Axalta Coating Systems during the third quarter worth $117,000. Finally, Sanctuary Advisors LLC lifted its position in shares of Axalta Coating Systems by 6.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 18,452 shares of the specialty chemicals company’s stock worth $668,000 after buying an additional 1,169 shares during the last quarter. Institutional investors own 98.28% of the company’s stock.

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.