Axalta Coating Systems (NYSE:AXTA) Rating Lowered to Strong Sell at Zacks Research

Axalta Coating Systems (NYSE:AXTA) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

Other analysts have also recently issued research reports about the company. Barclays decreased their target price on Axalta Coating Systems from $45.00 to $44.00 and set an “overweight” rating on the stock in a report on Friday, October 30th. Wall Street Zen lowered shares of Axalta Coating Systems from a “buy” rating to a “hold” rating in a report on Saturday, October 31st. BMO Capital Markets reaffirmed a “market perform” rating on shares of Axalta Coating Systems in a research note on Monday, September 21st. JPMorgan Chase & Co. upped their target price on shares of Axalta Coating Systems from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Friday, October 30th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $38.00 price target on shares of Axalta Coating Systems in a research note on Friday, October 9th. Five investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $38.45.

Axalta Coating Systems Trading Up 6.5%

Shares of AXTA stock opened at $37.48 on Tuesday. The firm’s fifty day simple moving average is $33.99 and its 200 day simple moving average is $32.39. The firm has a market capitalization of $8.02 billion, a P/E ratio of 24.18, a price-to-earnings-growth ratio of 2.23 and a beta of 1.25. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.93. Axalta Coating Systems has a 1 year low of $24.94 and a 1 year high of $38.61.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings data on Thursday, October 29th. The specialty chemicals company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.07). Axalta Coating Systems had a net margin of 6.46% and a return on equity of 21.28%. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the firm posted $0.67 earnings per share. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, sell-side analysts predict that Axalta Coating Systems will post 2.46 EPS for the current year.

Hedge Funds Weigh In On Axalta Coating Systems

Several institutional investors have recently modified their holdings of the stock. Mint Tower Capital Management B.V. acquired a new position in shares of Axalta Coating Systems in the 2nd quarter valued at $31,000. Root Financial Partners LLC acquired a new position in Axalta Coating Systems in the third quarter valued at about $33,000. Cedar Mountain Advisors LLC bought a new stake in shares of Axalta Coating Systems in the first quarter worth about $30,000. Allworth Financial LP acquired a new stake in shares of Axalta Coating Systems during the second quarter worth about $77,000. Finally, GAMMA Investing LLC raised its position in shares of Axalta Coating Systems by 18.8% during the third quarter. GAMMA Investing LLC now owns 2,615 shares of the specialty chemicals company’s stock worth $84,000 after purchasing an additional 413 shares during the period. 98.28% of the stock is currently owned by institutional investors and hedge funds.

Axalta Coating Systems Company Profile

Axalta Coating Systems Ltd. (NYSE: AXTA) develops, manufactures and sells coatings and coating technologies designed to protect, enhance and improve the appearance of vehicles, equipment and industrial products. Its offerings include liquid, powder and electrocoat products, along with related color-management tools, application technologies and technical services.

The company serves several markets, including automotive original equipment manufacturers, automotive refinish businesses, commercial transportation, industrial equipment, architecture and general manufacturing.