Axalta Coating Systems (NYSE:AXTA) Rating Lowered to “Hold” at Deutsche Bank Aktiengesellschaft

Axalta Coating Systems (NYSE:AXTA) was downgraded by equities researchers at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a note issued to investors on Friday,Finviz reports. They currently have a $32.00 price objective on the specialty chemicals company’s stock. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 6.54% from the company’s current price.

Several other brokerages have also recently commented on AXTA. Citigroup reaffirmed a “neutral” rating and issued a $34.00 target price (down from $35.00) on shares of Axalta Coating Systems in a research report on Friday, June 13th. JPMorgan Chase & Co. lowered Axalta Coating Systems from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $42.00 to $32.00 in a report on Thursday, May 8th. Mizuho set a $35.00 target price on Axalta Coating Systems and gave the stock an “outperform” rating in a report on Tuesday. BNP Paribas upgraded Axalta Coating Systems from a “neutral” rating to an “outperform” rating and set a $38.00 price objective for the company in a research report on Thursday, April 10th. Finally, Morgan Stanley decreased their price target on Axalta Coating Systems from $40.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, May 8th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.80.

Axalta Coating Systems Stock Performance

NYSE:AXTA opened at $30.04 on Friday. The firm has a 50-day moving average price of $30.70 and a two-hundred day moving average price of $33.02. The company has a current ratio of 2.12, a quick ratio of 1.53 and a debt-to-equity ratio of 1.60. Axalta Coating Systems has a twelve month low of $27.70 and a twelve month high of $41.66. The company has a market capitalization of $6.56 billion, a P/E ratio of 14.65, a price-to-earnings-growth ratio of 0.84 and a beta of 1.25.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings results on Wednesday, May 7th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.05. Axalta Coating Systems had a net margin of 8.56% and a return on equity of 26.30%. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the previous year, the firm earned $0.48 earnings per share. The business’s revenue was down 2.5% compared to the same quarter last year. As a group, research analysts expect that Axalta Coating Systems will post 2.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Proficio Capital Partners LLC bought a new stake in shares of Axalta Coating Systems during the fourth quarter worth approximately $350,000. Raymond James Financial Inc. bought a new stake in shares of Axalta Coating Systems during the 4th quarter worth about $7,127,000. HighTower Advisors LLC raised its stake in Axalta Coating Systems by 8.4% in the 4th quarter. HighTower Advisors LLC now owns 8,270 shares of the specialty chemicals company’s stock worth $283,000 after purchasing an additional 639 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Axalta Coating Systems by 6.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 21,471 shares of the specialty chemicals company’s stock valued at $735,000 after purchasing an additional 1,308 shares during the last quarter. Finally, Xponance Inc. grew its holdings in Axalta Coating Systems by 5.4% during the 4th quarter. Xponance Inc. now owns 24,953 shares of the specialty chemicals company’s stock worth $854,000 after acquiring an additional 1,276 shares during the last quarter. Institutional investors own 98.28% of the company’s stock.

Axalta Coating Systems Company Profile

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.