Axalta Coating Systems (NYSE:AXTA) Downgraded to “Neutral” Rating by Citigroup

Axalta Coating Systems (NYSE:AXTA) was downgraded by equities researchers at Citigroup from a “buy” rating to a “neutral” rating in a report issued on Wednesday, Marketbeat.com reports. They presently have a $41.00 target price on the specialty chemicals company’s stock, down from their previous target price of $45.00. Citigroup’s target price suggests a potential upside of 19.05% from the stock’s current price.

AXTA has been the subject of a number of other research reports. Evercore ISI began coverage on Axalta Coating Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $47.00 price objective for the company. BMO Capital Markets lifted their price target on Axalta Coating Systems from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Barclays increased their price objective on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. KeyCorp reaffirmed a “sector weight” rating on shares of Axalta Coating Systems in a report on Tuesday. Finally, Mizuho increased their price target on shares of Axalta Coating Systems from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.50.

Axalta Coating Systems Stock Performance

Shares of AXTA stock opened at $34.44 on Wednesday. The company has a current ratio of 2.00, a quick ratio of 1.42 and a debt-to-equity ratio of 1.80. The company’s fifty day moving average price is $38.42 and its 200-day moving average price is $36.31. The stock has a market cap of $7.51 billion, a PE ratio of 23.27, a price-to-earnings-growth ratio of 0.83 and a beta of 1.44. Axalta Coating Systems has a 12 month low of $30.40 and a 12 month high of $41.65.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings data on Wednesday, October 30th. The specialty chemicals company reported $0.59 EPS for the quarter, topping the consensus estimate 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 business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the firm posted $0.45 earnings per share. Axalta Coating Systems’s quarterly revenue was up .8% on a year-over-year basis. On average, equities analysts expect that Axalta Coating Systems will post 2.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Axalta Coating Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in AXTA. Plato Investment Management Ltd bought a new position in shares of Axalta Coating Systems during the 2nd quarter valued at $30,000. First Horizon Advisors Inc. increased its position in Axalta Coating Systems by 35.2% during the third quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company’s stock valued at $37,000 after acquiring an additional 266 shares during the last quarter. True Wealth Design LLC bought a new position in Axalta Coating Systems in the third quarter valued at about $37,000. Millburn Ridgefield Corp purchased a new position in Axalta Coating Systems in the third quarter worth about $41,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Axalta Coating Systems during the 3rd quarter valued at about $54,000. Hedge funds and other institutional investors own 98.28% of the company’s stock.

About Axalta Coating Systems

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.