Axalta Coating Systems (NYSE:AXTA) Stock Rating Lowered by Zacks Research

Axalta Coating Systems (NYSE:AXTA) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday, Zacks reports.

A number of other analysts have also issued reports on AXTA. JPMorgan Chase & Co. lifted their price target on shares of Axalta Coating Systems from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Friday, October 30th. KeyCorp reiterated an “overweight” rating on shares of Axalta Coating Systems in a research note on Monday, October 5th. Royal Bank Of Canada decreased their price objective on shares of Axalta Coating Systems from $36.00 to $35.00 and set a “sector perform” rating for the company in a report on Monday. 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 report on Friday, October 30th. Finally, Weiss Ratings raised shares of Axalta Coating Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 16th. Five research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Axalta Coating Systems presently has an average rating of “Hold” and an average price target of $38.45.

Axalta Coating Systems Price Performance

AXTA stock opened at $37.48 on Tuesday. The stock’s 50 day moving average is $33.99 and its two-hundred day moving average is $32.39. Axalta Coating Systems has a 52-week low of $24.94 and a 52-week high of $38.61. The company has a market capitalization of $8.02 billion, a PE ratio of 24.18, a P/E/G ratio of 2.23 and a beta of 1.25. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.93.

Axalta Coating Systems (NYSE:AXTA) last released its earnings results on Thursday, October 29th. The specialty chemicals company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.07). The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Axalta Coating Systems had a net margin of 6.46% and a return on equity of 21.28%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.67 earnings per share. Analysts predict that Axalta Coating Systems will post 2.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Axalta Coating Systems

Institutional investors have recently made changes to their positions in the company. Cedar Mountain Advisors LLC acquired a new position in Axalta Coating Systems in the first quarter worth $30,000. Mint Tower Capital Management B.V. acquired a new stake in shares of Axalta Coating Systems during the second quarter worth $31,000. Root Financial Partners LLC bought a new position in shares of Axalta Coating Systems in the 3rd quarter worth about $33,000. Allworth Financial LP bought a new position in shares of Axalta Coating Systems in the 2nd quarter worth about $77,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Axalta Coating Systems by 18.8% in the 3rd quarter. GAMMA Investing LLC now owns 2,615 shares of the specialty chemicals company’s stock valued at $84,000 after buying an additional 413 shares during the period. 98.28% of the stock is currently owned by institutional investors.

About Axalta Coating Systems

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.