Mizuho Cuts Axalta Coating Systems (NYSE:AXTA) Price Target to $41.00

Axalta Coating Systems (NYSE:AXTA) had its target price lowered by Mizuho from $43.00 to $41.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the specialty chemicals company’s stock. Mizuho’s price objective points to a potential upside of 18.36% from the company’s current price.

Several other equities analysts have also issued reports on AXTA. Citigroup lowered shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and cut their price target for the stock from $45.00 to $41.00 in a report on Wednesday, December 18th. Royal Bank of Canada upped their price target on shares of Axalta Coating Systems from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. KeyCorp reiterated a “sector weight” rating on shares of Axalta Coating Systems in a research note on Tuesday, December 17th. BMO Capital Markets increased their price objective on Axalta Coating Systems from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Evercore ISI assumed coverage on Axalta Coating Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $47.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $42.33.

Axalta Coating Systems Stock Up 0.2 %

Shares of NYSE:AXTA traded up $0.07 during trading hours on Tuesday, hitting $34.64. The company’s stock had a trading volume of 354,933 shares, compared to its average volume of 1,397,648. The company has a market capitalization of $7.55 billion, a price-to-earnings ratio of 23.41, a P/E/G ratio of 0.83 and a beta of 1.46. Axalta Coating Systems has a 52 week low of $30.40 and a 52 week high of $41.65. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.00 and a quick ratio of 1.42. The firm’s fifty day moving average price is $37.99 and its 200 day moving average price is $36.21.

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

Hedge Funds Weigh In On Axalta Coating Systems

Hedge funds have recently made changes to their positions in the stock. Plato Investment Management Ltd acquired a new stake in shares of Axalta Coating Systems in the second quarter valued at $30,000. First Horizon Advisors Inc. increased its stake in Axalta Coating Systems by 35.2% during the third quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 266 shares during the period. True Wealth Design LLC acquired a new stake in Axalta Coating Systems during the 3rd quarter worth approximately $37,000. Millburn Ridgefield Corp acquired a new stake in shares of Axalta Coating Systems in the third quarter valued at $41,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Axalta Coating Systems in the 3rd quarter valued at about $54,000. Hedge funds and other 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.