Mizuho Issues Pessimistic Forecast for Axalta Coating Systems (NYSE:AXTA) Stock Price

Axalta Coating Systems (NYSE:AXTA) had its price target reduced by Mizuho from $43.00 to $41.00 in a report issued on Tuesday morning,Benzinga reports. Mizuho currently has an outperform rating on the specialty chemicals company’s stock.

Several other equities analysts have also recently commented on AXTA. Deutsche Bank Aktiengesellschaft cut their price target on Axalta Coating Systems from $44.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, December 19th. BMO Capital Markets upped their target price on Axalta Coating Systems from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Citigroup downgraded shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $45.00 to $41.00 in a research note on Wednesday, December 18th. Barclays increased their price objective on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, Evercore ISI began coverage on shares of Axalta Coating Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $47.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Axalta Coating Systems currently has an average rating of “Moderate Buy” and an average price target of $42.33.

Axalta Coating Systems Price Performance

Shares of NYSE:AXTA opened at $34.20 on Tuesday. Axalta Coating Systems has a twelve month low of $30.40 and a twelve month high of $41.65. The company has a market cap of $7.46 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 0.83 and a beta of 1.46. The business has a 50 day moving average price of $37.96 and a 200 day moving average price of $36.21. The company has a quick ratio of 1.42, a current ratio of 2.00 and a debt-to-equity ratio of 1.80.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the firm earned $0.45 EPS. The business’s revenue was up .8% on a year-over-year basis. Research analysts predict that Axalta Coating Systems will post 2.16 earnings per share for the current year.

Institutional Investors Weigh In On Axalta Coating Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of AXTA. Geode Capital Management LLC grew its holdings in shares of Axalta Coating Systems by 0.9% during the third quarter. Geode Capital Management LLC now owns 3,669,190 shares of the specialty chemicals company’s stock worth $132,823,000 after purchasing an additional 31,894 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in Axalta Coating Systems by 68.4% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 36,191 shares of the specialty chemicals company’s stock worth $1,310,000 after acquiring an additional 14,704 shares during the last quarter. Federated Hermes Inc. increased its position in Axalta Coating Systems by 3.0% in the 2nd quarter. Federated Hermes Inc. now owns 896,188 shares of the specialty chemicals company’s stock valued at $30,623,000 after acquiring an additional 25,717 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Axalta Coating Systems by 126.7% in the second quarter. AQR Capital Management LLC now owns 794,454 shares of the specialty chemicals company’s stock worth $26,817,000 after acquiring an additional 443,946 shares during the last quarter. Finally, Savant Capital LLC acquired a new position in shares of Axalta Coating Systems during the second quarter worth approximately $541,000. 98.28% of the stock is owned by institutional investors and hedge funds.

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.