Axalta Coating Systems (NYSE:AXTA) Announces Earnings Results

Axalta Coating Systems (NYSE:AXTA) released its quarterly earnings data on Tuesday. The specialty chemicals company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08, RTT News reports. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. During the same period last year, the business earned $0.43 earnings per share.

Axalta Coating Systems Stock Performance

AXTA stock opened at $35.00 on Tuesday. The business’s fifty day simple moving average is $36.70 and its two-hundred day simple moving average is $36.37. 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 firm has a market cap of $7.63 billion, a price-to-earnings ratio of 23.65, a PEG ratio of 0.74 and a beta of 1.46. Axalta Coating Systems has a twelve month low of $30.40 and a twelve month high of $41.65.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Axalta Coating Systems from $44.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Barclays increased their price target on Axalta Coating Systems from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Royal Bank of Canada lifted their price objective on Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. BMO Capital Markets upped their price objective on Axalta Coating Systems from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Evercore ISI started coverage on shares of Axalta Coating Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $47.00 target price for the company. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

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.