Axalta Coating Systems (NYSE:AXTA) Stock Gets Price Target Trim from Royal Bank Of Canada

Axalta Coating Systems (NYSE:AXTA) had its price objective trimmed by Royal Bank Of Canada from $36.00 to $35.00 in a research note released on Monday,Benzinga reports. The firm currently has a sector perform rating on the specialty chemicals company’s stock.

A number of other brokerages also recently issued reports on AXTA. KeyCorp reiterated an “overweight” rating on shares of Axalta Coating Systems in a report on Monday, October 5th. BMO Capital Markets reissued a “market perform” rating on shares of Axalta Coating Systems in a report on Monday, September 21st. Wall Street Zen downgraded shares of Axalta Coating Systems from a “buy” rating to a “hold” rating in a report on Saturday, October 31st. Weiss Ratings upgraded Axalta Coating Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 16th. Finally, JPMorgan Chase & Co. lifted their target price on Axalta Coating Systems from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Friday, October 30th. Five investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $38.45.

Axalta Coating Systems Trading Up 6.5%

Shares of AXTA opened at $37.48 on Monday. The firm has a market cap of $8.02 billion, a P/E ratio of 14.08, a price-to-earnings-growth ratio of 2.23 and a beta of 1.25. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.53 and a quick ratio of 1.11. Axalta Coating Systems has a 1 year low of $24.94 and a 1 year high of $38.61. The company has a 50 day simple moving average of $33.99 and a two-hundred day simple moving average of $32.39.

Axalta Coating Systems (NYSE:AXTA) last released its earnings results on Thursday, October 29th. The specialty chemicals company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.07). Axalta Coating Systems had a return on equity of 21.28% and a net margin of 6.46%. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the firm posted $0.67 EPS. Axalta Coating Systems’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, equities analysts expect that Axalta Coating Systems will post 2.46 earnings per share for the current fiscal year.

Institutional Trading of Axalta Coating Systems

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Axalta Coating Systems in the second quarter worth $668,541,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Axalta Coating Systems during the second quarter worth $599,029,000. Lakewood Capital Management LP purchased a new stake in shares of Axalta Coating Systems during the second quarter valued at $117,157,000. Parsifal Capital Management LP purchased a new stake in shares of Axalta Coating Systems during the second quarter valued at $82,069,655. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Axalta Coating Systems during the second quarter valued at $43,205,000. Institutional investors own 98.28% of the company’s stock.

About Axalta Coating Systems

Axalta Coating Systems Ltd. (NYSE: AXTA) develops, manufactures and sells coatings and coating technologies designed to protect, enhance and improve the appearance of vehicles, equipment and industrial products. Its offerings include liquid, powder and electrocoat products, along with related color-management tools, application technologies and technical services.

The company serves several markets, including automotive original equipment manufacturers, automotive refinish businesses, commercial transportation, industrial equipment, architecture and general manufacturing.