Axalta Coating Systems (NYSE:AXTA) Upgraded to Strong-Buy at Evercore ISI

Evercore ISI upgraded shares of Axalta Coating Systems (NYSE:AXTA) to a strong-buy rating in a research report report published on Tuesday morning,Zacks.com reports.

AXTA has been the topic of a number of other research reports. Mizuho raised their target price on Axalta Coating Systems from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Barclays raised their target price on Axalta Coating Systems from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, November 1st. BMO Capital Markets lifted their price target on Axalta Coating Systems from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday. KeyCorp lifted their price target on Axalta Coating Systems from $44.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Robert W. Baird raised their target price on Axalta Coating Systems from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Axalta Coating Systems has a consensus rating of “Buy” and a consensus price target of $42.45.

Axalta Coating Systems Trading Down 1.0 %

Axalta Coating Systems stock traded down $0.39 during trading hours on Tuesday, hitting $40.27. The stock had a trading volume of 347,238 shares, compared to its average volume of 2,020,208. The company has a quick ratio of 1.42, a current ratio of 2.00 and a debt-to-equity ratio of 1.80. The stock has a market cap of $8.78 billion, a price-to-earnings ratio of 27.43, a P/E/G ratio of 0.87 and a beta of 1.43. Axalta Coating Systems has a one year low of $30.40 and a one year high of $40.91. The business’s 50 day simple moving average is $36.68 and its 200-day simple moving average is $35.58.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.08. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.45 earnings per share. On average, equities analysts predict that Axalta Coating Systems will post 2.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Axalta Coating Systems

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Axalta Coating Systems by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 23,763,601 shares of the specialty chemicals company’s stock valued at $817,230,000 after purchasing an additional 554,806 shares during the last quarter. Edgestream Partners L.P. bought a new position in Axalta Coating Systems during the 1st quarter valued at approximately $1,745,000. Toronto Dominion Bank bought a new position in Axalta Coating Systems during the 1st quarter valued at approximately $12,556,000. Federated Hermes Inc. raised its position in Axalta Coating Systems by 3.0% during the 2nd quarter. Federated Hermes Inc. now owns 896,188 shares of the specialty chemicals company’s stock valued at $30,623,000 after purchasing an additional 25,717 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in Axalta Coating Systems by 126.7% during the 2nd quarter. AQR Capital Management LLC now owns 794,454 shares of the specialty chemicals company’s stock valued at $26,817,000 after purchasing an additional 443,946 shares during the last quarter. Institutional investors own 98.28% of the company’s stock.

About Axalta Coating Systems

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.