Axalta Coating Systems (NYSE:AXTA) Upgraded at Vertical Research

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Axalta Coating Systems (NYSE:AXTA) was upgraded by equities research analysts at Vertical Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports.

A number of other research analysts also recently issued reports on the stock. UBS Group dropped their price target on shares of Axalta Coating Systems from $32.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday. Bank of America upgraded shares of Axalta Coating Systems from a “neutral” rating to a “buy” rating in a research report on Monday. Jefferies Financial Group downgraded shares of Axalta Coating Systems from a “buy” rating to a “hold” rating in a research report on Monday. Credit Suisse Group dropped their price target on shares of Axalta Coating Systems from $35.00 to $29.00 and set an “outperform” rating on the stock in a research report on Friday, March 20th. Finally, Zacks Investment Research upgraded shares of Axalta Coating Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $28.91.

Shares of NYSE AXTA traded up $0.97 during midday trading on Thursday, reaching $17.49. The stock had a trading volume of 352,404 shares, compared to its average volume of 4,613,611. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 1.18 and a beta of 1.46. Axalta Coating Systems has a twelve month low of $12.92 and a twelve month high of $32.20. The company has a debt-to-equity ratio of 2.69, a quick ratio of 1.85 and a current ratio of 2.40. The company’s 50 day moving average price is $24.33 and its 200 day moving average price is $28.40.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.01). The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.13 billion. Axalta Coating Systems had a return on equity of 31.81% and a net margin of 5.56%. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 EPS. Equities analysts forecast that Axalta Coating Systems will post 1.8 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of AXTA. Man Group plc boosted its holdings in shares of Axalta Coating Systems by 231.2% in the 3rd quarter. Man Group plc now owns 163,062 shares of the specialty chemicals company’s stock worth $4,917,000 after buying an additional 113,829 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in shares of Axalta Coating Systems by 25.0% in the 3rd quarter. Squarepoint Ops LLC now owns 205,850 shares of the specialty chemicals company’s stock worth $6,206,000 after buying an additional 41,127 shares during the last quarter. Worldquant Millennium Advisors LLC boosted its holdings in shares of Axalta Coating Systems by 123.6% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 460,358 shares of the specialty chemicals company’s stock worth $13,879,000 after buying an additional 254,490 shares during the last quarter. Boussard & Gavaudan Investment Management LLP boosted its holdings in shares of Axalta Coating Systems by 53.5% in the 3rd quarter. Boussard & Gavaudan Investment Management LLP now owns 298,024 shares of the specialty chemicals company’s stock worth $9,021,000 after buying an additional 103,931 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Axalta Coating Systems by 1,092.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 582,189 shares of the specialty chemicals company’s stock worth $17,699,000 after buying an additional 533,377 shares during the last quarter. Hedge funds and other institutional investors own 94.58% of the company’s stock.

About Axalta Coating Systems

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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