Axalta Coating Systems (NYSE:AXTA) Research Coverage Started at Evercore ISI

Evercore ISI assumed coverage on shares of Axalta Coating Systems (NYSE:AXTA) in a research note published on Wednesday, MarketBeat.com reports. The firm issued an outperform rating and a $47.00 price target on the specialty chemicals company’s stock.

A number of other analysts have also issued reports on the company. Robert W. Baird boosted their target price on Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Royal Bank of Canada increased their target price on Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. KeyCorp raised their target price on Axalta Coating Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Barclays boosted 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 note on Friday, November 1st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Axalta Coating Systems presently has a consensus rating of “Buy” and an average target price of $42.45.

Axalta Coating Systems Stock Performance

Shares of Axalta Coating Systems stock opened at $40.30 on Wednesday. The business’s fifty day simple moving average is $36.68 and its 200-day simple moving average is $35.58. The company has a quick ratio of 1.42, a current ratio of 2.00 and a debt-to-equity ratio of 1.80. The firm has a market cap of $8.79 billion, a PE ratio of 27.23, a price-to-earnings-growth ratio of 0.87 and a beta of 1.43. Axalta Coating Systems has a 52 week low of $30.40 and a 52 week high of $40.91.

Axalta Coating Systems (NYSE:AXTA) last posted its earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 EPS 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 analysts’ expectations of $1.32 billion. Axalta Coating Systems’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.45 earnings per share. Equities analysts forecast that Axalta Coating Systems will post 2.16 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AXTA. Envestnet Portfolio Solutions Inc. lifted its position in shares of Axalta Coating Systems by 4.8% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 20,454 shares of the specialty chemicals company’s stock worth $703,000 after purchasing an additional 938 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of Axalta Coating Systems during the 1st quarter worth about $686,000. State Board of Administration of Florida Retirement System increased its holdings in shares of Axalta Coating Systems by 7.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 202,446 shares of the specialty chemicals company’s stock valued at $6,962,000 after acquiring an additional 13,541 shares during the last quarter. Blair William & Co. IL raised its position in shares of Axalta Coating Systems by 18.6% during the 1st quarter. Blair William & Co. IL now owns 14,902 shares of the specialty chemicals company’s stock worth $512,000 after acquiring an additional 2,339 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its stake in Axalta Coating Systems by 12.5% during the first quarter. Westfield Capital Management Co. LP now owns 1,880,702 shares of the specialty chemicals company’s stock worth $64,677,000 after purchasing an additional 208,827 shares during the last quarter. Institutional investors and hedge funds 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.