Axalta Coating Systems (NYSE:AXTA) Receives New Coverage from Analysts at Berenberg Bank

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Equities researchers at Berenberg Bank assumed coverage on shares of Axalta Coating Systems (NYSE:AXTA) in a note issued to investors on Friday, Marketbeat Ratings reports. The firm set a “buy” rating and a $35.00 price target on the specialty chemicals company’s stock. Berenberg Bank’s price objective would indicate a potential upside of 18.40% from the company’s previous close.

A number of other analysts have also weighed in on the stock. Maxim Group reiterated a “hold” rating on shares of Castle Brands in a report on Wednesday, June 19th. JPMorgan Chase & Co. reiterated a “hold” rating and set a $137.00 target price on shares of Continental in a report on Friday, April 26th. Zacks Investment Research upgraded shares of Green Brick Partners from a “sell” rating to a “hold” rating in a report on Thursday, April 25th. BMO Capital Markets increased their target price on shares of Axalta Coating Systems to $34.00 and gave the stock a “market perform” rating in a report on Friday, June 21st. Finally, KeyCorp reiterated an “overweight” rating and set a $136.00 target price (up from $127.00) on shares of Coupa Software in a report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $31.00.

Shares of NYSE:AXTA opened at $29.56 on Friday. The company’s 50-day moving average is $27.39. Axalta Coating Systems has a 12-month low of $21.58 and a 12-month high of $30.93. The company has a market capitalization of $6.93 billion, a PE ratio of 21.74, a P/E/G ratio of 1.41 and a beta of 1.46. The company has a quick ratio of 1.60, a current ratio of 2.21 and a debt-to-equity ratio of 2.98.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings data on Wednesday, April 24th. The specialty chemicals company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.13. Axalta Coating Systems had a return on equity of 24.42% and a net margin of 3.90%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the firm earned $0.27 earnings per share. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. As a group, research analysts expect that Axalta Coating Systems will post 1.73 EPS for the current fiscal year.

In other Axalta Coating Systems news, Director Andreas Kramvis sold 55,048 shares of the firm’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $28.11, for a total value of $1,547,399.28. Following the completion of the sale, the director now directly owns 50,628 shares in the company, valued at $1,423,153.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles W. Shaver sold 500,000 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $25.24, for a total transaction of $12,620,000.00. Following the completion of the sale, the director now owns 492,369 shares of the company’s stock, valued at $12,427,393.56. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of AXTA. Hexavest Inc. purchased a new stake in Axalta Coating Systems in the second quarter worth about $46,000. Covington Capital Management purchased a new stake in Axalta Coating Systems in the fourth quarter worth about $68,000. ETF Managers Group LLC lifted its holdings in Axalta Coating Systems by 9.8% in the first quarter. ETF Managers Group LLC now owns 4,740 shares of the specialty chemicals company’s stock worth $120,000 after buying an additional 422 shares during the period. Captrust Financial Advisors lifted its holdings in Axalta Coating Systems by 15.4% in the fourth quarter. Captrust Financial Advisors now owns 5,867 shares of the specialty chemicals company’s stock worth $137,000 after buying an additional 785 shares during the period. Finally, Wilbanks Smith & Thomas Asset Management LLC purchased a new stake in Axalta Coating Systems in the first quarter worth about $206,000. Institutional investors and hedge funds own 98.47% 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. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers water and solvent borne products and systems that are used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.

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Analyst Recommendations for Axalta Coating Systems (NYSE:AXTA)

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