Axalta Coating Systems (NYSE:AXTA) Stock Bumped Down to “Strong Sell” by Zacks Research

Zacks Research downgraded shares of Axalta Coating Systems (NYSE:AXTA) from a hold rating to a strong sell rating in a research report report published on Tuesday morning,Zacks reports.

Other analysts have also issued reports about the stock. Weiss Ratings raised shares of Axalta Coating Systems from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 16th. JPMorgan Chase & Co. raised their price objective on shares of Axalta Coating Systems from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Friday, October 30th. UBS Group dropped their target price on Axalta Coating Systems from $39.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Wall Street Zen downgraded Axalta Coating Systems from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. Finally, Royal Bank Of Canada decreased their price target on Axalta Coating Systems from $36.00 to $35.00 and set a “sector perform” rating for the company in a research note on Monday. Five research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Axalta Coating Systems currently has a consensus rating of “Hold” and an average target price of $38.45.

Axalta Coating Systems Stock Up 6.5%

Shares of Axalta Coating Systems stock opened at $37.48 on Tuesday. The firm has a market cap of $8.02 billion, a P/E ratio of 24.18, a P/E/G ratio of 2.23 and a beta of 1.25. Axalta Coating Systems has a fifty-two week low of $24.94 and a fifty-two week high of $38.61. The business has a 50-day moving average price of $33.99 and a 200 day moving average price of $32.39. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.93.

Axalta Coating Systems (NYSE:AXTA) last posted its earnings results on Thursday, October 29th. The specialty chemicals company reported $0.63 EPS for the quarter, missing the consensus estimate 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 company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the company posted $0.67 earnings per share. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, sell-side analysts forecast that Axalta Coating Systems will post 2.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Axalta Coating Systems

Several hedge funds have recently made changes to their positions in the business. Formuepleje A S boosted its holdings in Axalta Coating Systems by 0.5% during the third quarter. Formuepleje A S now owns 60,905 shares of the specialty chemicals company’s stock worth $1,959,000 after buying an additional 321 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Axalta Coating Systems by 18.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,615 shares of the specialty chemicals company’s stock worth $84,000 after acquiring an additional 413 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its stake in shares of Axalta Coating Systems by 8.9% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 7,550 shares of the specialty chemicals company’s stock worth $248,000 after acquiring an additional 614 shares in the last quarter. Mint Tower Capital Management B.V. acquired a new position in shares of Axalta Coating Systems in the 2nd quarter worth $31,000. Finally, State of Michigan Retirement System grew its holdings in shares of Axalta Coating Systems by 2.0% in the 1st quarter. State of Michigan Retirement System now owns 51,400 shares of the specialty chemicals company’s stock worth $1,424,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 98.28% of the company’s stock.

About Axalta Coating Systems

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.