Axalta Coating Systems (NYSE:AXTA) Rating Increased to Outperform at Wolfe Research

Wolfe Research upgraded shares of Axalta Coating Systems (NYSE:AXTA) from a peer perform rating to an outperform rating in a research note issued to investors on Friday, Marketbeat Ratings reports. Wolfe Research currently has $41.00 price target on the specialty chemicals company’s stock.

A number of other equities research analysts also recently commented on AXTA. BMO Capital Markets lifted their target price on Axalta Coating Systems from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Mizuho decreased their price objective 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. Barclays increased their price objective on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Axalta Coating Systems from $44.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, Evercore ISI assumed coverage on shares of Axalta Coating Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $47.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Axalta Coating Systems Trading Up 1.7 %

Shares of Axalta Coating Systems stock opened at $36.28 on Friday. The firm’s 50 day simple moving average is $37.33 and its two-hundred day simple moving average is $36.22. The firm has a market capitalization of $7.91 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 0.68 and a beta of 1.46. Axalta Coating Systems has a 12-month low of $30.40 and a 12-month high of $41.65. The company has a current ratio of 2.00, a quick ratio of 1.42 and a debt-to-equity ratio of 1.80.

Axalta Coating Systems (NYSE:AXTA) last released its earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.08. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. The firm had revenue of $1.32 billion for 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 firm’s revenue was up .8% on a year-over-year basis. Analysts predict that Axalta Coating Systems will post 2.15 EPS for the current year.

Hedge Funds Weigh In On Axalta Coating Systems

Hedge funds have recently bought and sold shares of the business. Eagle Bay Advisors LLC raised its stake in shares of Axalta Coating Systems by 116.3% during the 4th quarter. Eagle Bay Advisors LLC now owns 824 shares of the specialty chemicals company’s stock worth $28,000 after buying an additional 443 shares during the period. First Horizon Advisors Inc. raised its position in Axalta Coating Systems by 35.2% during the third quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 266 shares during the period. True Wealth Design LLC purchased a new position in Axalta Coating Systems during the third quarter valued at $37,000. Millburn Ridgefield Corp acquired a new stake in shares of Axalta Coating Systems in the third quarter valued at about $41,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Axalta Coating Systems during the third quarter worth about $54,000. Hedge funds and other institutional investors own 98.28% of the company’s stock.

About Axalta Coating Systems

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.