Axalta Coating Systems (NYSE:AXTA) Hits New 52-Week High Following Analyst Upgrade

Shares of Axalta Coating Systems Ltd. (NYSE:AXTA) reached a new 52-week high during trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $33.00 to $36.00. Wells Fargo & Company currently has an equal weight rating on the stock. Axalta Coating Systems traded as high as $33.10 and last traded at $33.07, with a volume of 2618224 shares traded. The stock had previously closed at $32.35.

Other equities analysts have also issued research reports about the stock. Susquehanna Bancshares upgraded shares of Axalta Coating Systems to a “positive” rating and set a $41.00 price target on the stock in a report on Monday, April 26th. Susquehanna upgraded shares of Axalta Coating Systems from a “neutral” rating to a “positive” rating and set a $41.00 target price on the stock in a report on Monday. Zacks Investment Research upgraded shares of Axalta Coating Systems from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Thursday, April 29th. Morgan Stanley lifted their target price on shares of Axalta Coating Systems from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, April 29th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Axalta Coating Systems from $32.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, April 29th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $32.62.

In other news, SVP Barry S. Snyder sold 17,560 shares of the business’s stock in a transaction dated Wednesday, April 21st. The shares were sold at an average price of $32.00, for a total value of $561,920.00. Following the completion of the sale, the senior vice president now owns 65,296 shares of the company’s stock, valued at approximately $2,089,472. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC bought a new stake in shares of Axalta Coating Systems in the 1st quarter worth about $28,000. Capital Asset Advisory Services LLC bought a new stake in shares of Axalta Coating Systems in the 4th quarter worth about $27,000. Ellevest Inc. grew its position in shares of Axalta Coating Systems by 1,010.2% during the 4th quarter. Ellevest Inc. now owns 2,387 shares of the specialty chemicals company’s stock valued at $68,000 after buying an additional 2,172 shares during the last quarter. Globeflex Capital L P bought a new stake in shares of Axalta Coating Systems during the 4th quarter valued at about $83,000. Finally, RMR Wealth Builders bought a new stake in shares of Axalta Coating Systems during the 4th quarter valued at about $171,000. 91.56% of the stock is owned by institutional investors.

The company has a current ratio of 2.68, a quick ratio of 2.17 and a debt-to-equity ratio of 2.90. The business’s 50-day moving average is $30.51 and its two-hundred day moving average is $28.69. The firm has a market cap of $7.70 billion, a P/E ratio of 82.68, a P/E/G ratio of 6.12 and a beta of 1.47.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings data on Sunday, April 25th. The specialty chemicals company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. Axalta Coating Systems had a net margin of 2.49% and a return on equity of 20.51%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm earned $0.31 EPS. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, analysts anticipate that Axalta Coating Systems Ltd. will post 1.19 earnings per share for the current year.

Axalta Coating Systems Company Profile (NYSE:AXTA)

Axalta Coating Systems Ltd. engages in the manufacture, marketing, and distribution of coatings systems. It operates through the Performance Coatings and Transportation Coatings business segments. The Performance Coatings segment provides liquid and powder coatings solutions to a fragmented and local customer base.

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