Axalta Coating Systems (NYSE:AXTA) Earns “Sector Weight” Rating from KeyCorp

Axalta Coating Systems (NYSE:AXTA)‘s stock had its “sector weight” rating restated by equities researchers at KeyCorp in a research report issued on Tuesday, MarketBeat reports.

Other equities analysts have also recently issued reports about the stock. Mizuho boosted their target price on shares of Axalta Coating Systems from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Evercore ISI initiated coverage on shares of Axalta Coating Systems in a research note on Wednesday, November 13th. They set an “outperform” rating and a $47.00 target price on the stock. BMO Capital Markets lifted their price target on Axalta Coating Systems from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Royal Bank of Canada increased their price target on Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Barclays raised their price objective on Axalta Coating Systems from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Axalta Coating Systems currently has an average rating of “Moderate Buy” and an average target price of $42.55.

Axalta Coating Systems Price Performance

Shares of AXTA opened at $35.01 on Tuesday. The business’s 50-day moving average is $38.46 and its two-hundred day moving average is $36.32. The company has a market capitalization of $7.63 billion, a P/E ratio of 23.66, a P/E/G ratio of 0.83 and a beta of 1.44. Axalta Coating Systems has a fifty-two week low of $30.40 and a fifty-two week high of $41.65. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.42 and a current ratio of 2.00.

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, topping the consensus estimate of $0.51 by $0.08. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the company earned $0.45 earnings per share. Axalta Coating Systems’s revenue for the quarter was up .8% compared to the same quarter last year. Research analysts predict that Axalta Coating Systems will post 2.16 earnings per share for the current year.

Institutional Investors Weigh In On Axalta Coating Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Axalta Coating Systems by 0.9% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 15,009,959 shares of the specialty chemicals company’s stock worth $512,890,000 after buying an additional 137,209 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Axalta Coating Systems by 5.6% in the 2nd quarter. Victory Capital Management Inc. now owns 10,403,246 shares of the specialty chemicals company’s stock worth $355,479,000 after purchasing an additional 550,970 shares in the last quarter. State Street Corp grew its position in shares of Axalta Coating Systems by 0.7% in the third quarter. State Street Corp now owns 6,822,955 shares of the specialty chemicals company’s stock valued at $246,923,000 after purchasing an additional 46,813 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Axalta Coating Systems by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,771,023 shares of the specialty chemicals company’s stock valued at $128,852,000 after purchasing an additional 302,752 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Axalta Coating Systems by 0.9% in the third quarter. Geode Capital Management LLC now owns 3,669,190 shares of the specialty chemicals company’s stock valued at $132,823,000 after purchasing an additional 31,894 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.