Royal Bank Of Canada Issues Pessimistic Forecast for Axalta Coating Systems (NYSE:AXTA) Stock Price

Axalta Coating Systems (NYSE:AXTA) had its price target decreased by equities research analysts at Royal Bank Of Canada from $36.00 to $35.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “sector perform” rating on the specialty chemicals company’s stock. Royal Bank Of Canada‘s target price would suggest a potential downside of 2.01% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. UBS Group dropped their target price on Axalta Coating Systems from $39.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Barclays decreased their price objective on shares of Axalta Coating Systems from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Friday. BMO Capital Markets reaffirmed a “market perform” rating on shares of Axalta Coating Systems in a research note on Monday, September 21st. The Goldman Sachs Group reissued a “buy” rating and set a $38.00 target price on shares of Axalta Coating Systems in a research note on Friday, October 9th. Finally, Wall Street Zen downgraded Axalta Coating Systems from a “buy” rating to a “hold” rating in a research report on Saturday. Five research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Axalta Coating Systems currently has an average rating of “Hold” and a consensus price target of $38.45.

Axalta Coating Systems Stock Performance

AXTA stock traded up $1.65 during trading on Monday, reaching $35.72. The company had a trading volume of 132,671 shares, compared to its average volume of 2,435,531. Axalta Coating Systems has a twelve month low of $24.94 and a twelve month high of $38.61. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.11 and a current ratio of 1.53. The company has a market cap of $7.64 billion, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 2.05 and a beta of 1.26. The firm has a 50-day simple moving average of $34.00 and a 200-day simple moving average of $32.34.

Axalta Coating Systems (NYSE:AXTA) last announced its earnings results on Thursday, October 29th. The specialty chemicals company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.07). Axalta Coating Systems had a net margin of 6.46% and a return on equity of 21.28%. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the business earned $0.67 EPS. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, sell-side analysts expect that Axalta Coating Systems will post 2.45 earnings per share for the current year.

Hedge Funds Weigh In On Axalta Coating Systems

A number of hedge funds have recently modified their holdings of the stock. Aurora Investment Counsel acquired a new stake in Axalta Coating Systems in the 2nd quarter worth $1,749,000. MAC Alpha Capital Management LP increased its holdings in Axalta Coating Systems by 45.9% in the 2nd quarter. MAC Alpha Capital Management LP now owns 645,643 shares of the specialty chemicals company’s stock valued at $22,096,000 after buying an additional 203,243 shares during the period. Amundi raised its stake in shares of Axalta Coating Systems by 32.0% in the 2nd quarter. Amundi now owns 841,326 shares of the specialty chemicals company’s stock valued at $28,790,000 after buying an additional 203,829 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Axalta Coating Systems in the 2nd quarter valued at $19,763,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Axalta Coating Systems in the 2nd quarter valued at $2,261,000. 98.28% of the stock is currently owned by institutional investors and hedge funds.

Axalta Coating Systems Company Profile

Axalta Coating Systems Ltd. (NYSE: AXTA) develops, manufactures and sells coatings and coating technologies designed to protect, enhance and improve the appearance of vehicles, equipment and industrial products. Its offerings include liquid, powder and electrocoat products, along with related color-management tools, application technologies and technical services.

The company serves several markets, including automotive original equipment manufacturers, automotive refinish businesses, commercial transportation, industrial equipment, architecture and general manufacturing.