Analysts Set Axalta Coating Systems Ltd (NYSE:AXTA) Target Price at $32.08

Shares of Axalta Coating Systems Ltd (NYSE:AXTA) have been assigned a consensus rating of “Hold” from the sixteen research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $32.08.

Several equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Axalta Coating Systems from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Tuesday, July 30th. Bank of America lowered shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating in a research note on Friday, August 16th. BMO Capital Markets lifted their price objective on shares of Axalta Coating Systems to $34.00 and gave the company a “market perform” rating in a research note on Friday, June 21st. KeyCorp lifted their price objective on shares of Axalta Coating Systems from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. Finally, Berenberg Bank initiated coverage on shares of Axalta Coating Systems in a research note on Friday, July 12th. They issued a “buy” rating and a $35.00 price objective on the stock.

In other Axalta Coating Systems news, Director Charles W. Shaver sold 500,000 shares of Axalta Coating Systems stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $25.24, for a total value of $12,620,000.00. Following the transaction, the director now directly owns 492,369 shares in the company, valued at $12,427,393.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.10% of the company’s stock.

Several institutional investors have recently modified their holdings of AXTA. Nuveen Asset Management LLC acquired a new position in shares of Axalta Coating Systems during the second quarter worth about $123,812,000. Senator Investment Group LP acquired a new position in shares of Axalta Coating Systems during the second quarter worth about $119,080,000. Renaissance Technologies LLC increased its stake in shares of Axalta Coating Systems by 73.4% during the second quarter. Renaissance Technologies LLC now owns 4,691,100 shares of the specialty chemicals company’s stock worth $139,654,000 after acquiring an additional 1,986,400 shares during the period. D. E. Shaw & Co. Inc. increased its stake in shares of Axalta Coating Systems by 287.0% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,390,566 shares of the specialty chemicals company’s stock worth $41,397,000 after acquiring an additional 1,031,292 shares during the period. Finally, Marshall Wace North America L.P. increased its stake in shares of Axalta Coating Systems by 1,340.2% during the first quarter. Marshall Wace North America L.P. now owns 758,712 shares of the specialty chemicals company’s stock worth $19,127,000 after acquiring an additional 706,032 shares during the period. Institutional investors and hedge funds own 97.31% of the company’s stock.

NYSE:AXTA traded down $0.75 during midday trading on Friday, hitting $26.75. 1,090,957 shares of the company were exchanged, compared to its average volume of 1,920,497. The company has a fifty day simple moving average of $29.20 and a 200 day simple moving average of $27.18. Axalta Coating Systems has a fifty-two week low of $21.58 and a fifty-two week high of $32.14. The company has a current ratio of 2.32, a quick ratio of 1.71 and a debt-to-equity ratio of 2.92. The company has a market capitalization of $6.41 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 1.14 and a beta of 1.46.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings results on Thursday, July 25th. The specialty chemicals company reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.09. Axalta Coating Systems had a net margin of 4.45% and a return on equity of 27.59%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the business earned $0.36 EPS. Axalta Coating Systems’s revenue for the quarter was down 4.5% compared to the same quarter last year. As a group, equities research analysts expect that Axalta Coating Systems will post 1.79 EPS for the current year.

About Axalta Coating Systems

Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings systems. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers water and solvent borne products and systems that are used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.

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Analyst Recommendations for Axalta Coating Systems (NYSE:AXTA)

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