Wells Fargo & Company Cuts Axalta Coating Systems (NYSE:AXTA) Price Target to $37.00

Axalta Coating Systems (NYSE:AXTA) had its price objective cut by equities researchers at Wells Fargo & Company from $42.00 to $37.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the specialty chemicals company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 18.95% from the stock’s current price.

AXTA has been the subject of several other research reports. Citigroup decreased their price objective on Axalta Coating Systems from $42.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday. Mizuho decreased their price target on shares of Axalta Coating Systems from $43.00 to $41.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Wolfe Research upgraded shares of Axalta Coating Systems from a “peer perform” rating to an “outperform” rating and set a $41.00 price target for the company in a report on Friday, January 17th. Barclays upped their target price on Axalta Coating Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Finally, 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 research note on Thursday, December 19th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $41.92.

Axalta Coating Systems Stock Up 9.2 %

AXTA traded up $2.62 during trading hours on Wednesday, hitting $31.11. 2,254,090 shares of the company’s stock were exchanged, compared to its average volume of 2,039,221. The firm has a market cap of $6.79 billion, a P/E ratio of 17.48, a price-to-earnings-growth ratio of 0.92 and a beta of 1.33. Axalta Coating Systems has a 12-month low of $27.70 and a 12-month high of $41.65. The company has a current ratio of 2.01, a quick ratio of 1.47 and a debt-to-equity ratio of 1.74. The firm has a 50 day moving average of $34.91 and a 200 day moving average of $36.31.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings data on Tuesday, February 4th. The specialty chemicals company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.09. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.31 billion. Axalta Coating Systems had a return on equity of 26.29% and a net margin of 7.41%. The company’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 earnings per share. Analysts predict that Axalta Coating Systems will post 2.55 EPS for the current fiscal year.

Insider Activity

In related news, insider Troy D. Weaver sold 10,457 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $37.57, for a total value of $392,869.49. Following the sale, the insider now owns 74,905 shares of the company’s stock, valued at approximately $2,814,180.85. This represents a 12.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Axalta Coating Systems

A number of institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in shares of Axalta Coating Systems by 3,005.3% during the 1st quarter. GAMMA Investing LLC now owns 76,855 shares of the specialty chemicals company’s stock worth $2,549,000 after purchasing an additional 74,380 shares during the last quarter. Versant Capital Management Inc raised its holdings in Axalta Coating Systems by 263.3% in the 1st quarter. Versant Capital Management Inc now owns 8,112 shares of the specialty chemicals company’s stock valued at $269,000 after acquiring an additional 5,879 shares during the last quarter. Kera Capital Partners Inc. purchased a new position in shares of Axalta Coating Systems during the 1st quarter worth $240,000. 111 Capital acquired a new stake in shares of Axalta Coating Systems during the fourth quarter worth $658,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Axalta Coating Systems by 12.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 21,746 shares of the specialty chemicals company’s stock valued at $744,000 after purchasing an additional 2,438 shares during the period. 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.