Axalta Coating Systems (NYSE:AXTA) Issues Earnings Results

Axalta Coating Systems (NYSE:AXTA) issued its earnings results on Thursday. The specialty chemicals company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06, Briefing.com reports. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. Axalta Coating Systems had a net margin of 5.69% and a return on equity of 24.28%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.35 EPS.

Axalta Coating Systems Stock Performance

Shares of AXTA traded down $1.43 during trading hours on Friday, reaching $35.21. 2,428,282 shares of the company’s stock traded hands, compared to its average volume of 2,161,700. Axalta Coating Systems has a twelve month low of $25.03 and a twelve month high of $37.49. The business’s fifty day simple moving average is $35.02 and its two-hundred day simple moving average is $33.74. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.26 and a quick ratio of 1.51. The firm has a market capitalization of $7.77 billion, a price-to-earnings ratio of 31.72, a P/E/G ratio of 0.91 and a beta of 1.44.

Analysts Set New Price Targets

A number of research analysts have commented on AXTA shares. Barclays increased their target price on Axalta Coating Systems from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday. KeyCorp boosted their target price on shares of Axalta Coating Systems from $40.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday. Mizuho raised their price target on shares of Axalta Coating Systems from $38.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Citigroup raised their target price on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Finally, BMO Capital Markets increased their price target on Axalta Coating Systems from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Axalta Coating Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.91.

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.