Axalta Coating Systems (NYSE:AXTA) Price Target Lowered to $38.00 at Mizuho

Axalta Coating Systems (NYSE:AXTA) had its target price cut by equities research analysts at Mizuho from $40.00 to $38.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the specialty chemicals company’s stock. Mizuho’s price objective would indicate a potential upside of 11.08% from the stock’s previous close.

Several other research analysts have also recently weighed in on AXTA. Wells Fargo & Company upped their price target on shares of Axalta Coating Systems from $31.00 to $33.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 9th. JPMorgan Chase & Co. upped their target price on Axalta Coating Systems from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. UBS Group downgraded Axalta Coating Systems from a “buy” rating to a “neutral” rating and lifted their price target for the company from $35.00 to $36.00 in a research report on Monday, January 8th. Wolfe Research began coverage on shares of Axalta Coating Systems in a research report on Friday, March 1st. They issued a “peer perform” rating on the stock. Finally, Citigroup lifted their target price on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $36.27.

Axalta Coating Systems Stock Performance

Shares of AXTA opened at $34.21 on Thursday. Axalta Coating Systems has a 52-week low of $25.03 and a 52-week high of $34.94. The stock’s 50-day simple moving average is $32.72 and its 200 day simple moving average is $31.80. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.46 and a current ratio of 1.98. The stock has a market capitalization of $7.55 billion, a price-to-earnings ratio of 28.51, a price-to-earnings-growth ratio of 1.02 and a beta of 1.51.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.08. Axalta Coating Systems had a net margin of 5.16% and a return on equity of 20.70%. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the firm posted $0.35 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. Research analysts forecast that Axalta Coating Systems will post 1.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Axalta Coating Systems

A number of large investors have recently added to or reduced their stakes in AXTA. Fifth Third Bancorp increased its stake in Axalta Coating Systems by 47.7% in the 4th quarter. Fifth Third Bancorp now owns 1,046 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 338 shares during the period. TFO Wealth Partners LLC boosted its stake in shares of Axalta Coating Systems by 12,022.2% during the fourth quarter. TFO Wealth Partners LLC now owns 1,091 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 1,082 shares during the period. Raleigh Capital Management Inc. bought a new position in shares of Axalta Coating Systems in the fourth quarter worth approximately $48,000. CWM LLC increased its stake in shares of Axalta Coating Systems by 35.6% in the third quarter. CWM LLC now owns 2,474 shares of the specialty chemicals company’s stock worth $67,000 after buying an additional 649 shares during the period. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Axalta Coating Systems in the fourth quarter worth $88,000. Hedge funds and other 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.