Axalta Coating Systems (NYSE:AXTA) Upgraded by Evercore ISI to Strong-Buy Rating

Evercore ISI upgraded shares of Axalta Coating Systems (NYSE:AXTA) to a strong-buy rating in a research note published on Tuesday,Zacks.com reports.

A number of other research firms have also commented on AXTA. Royal Bank of Canada lifted their target price on Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Robert W. Baird boosted their target price on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. increased their price objective on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Barclays boosted their target price on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, KeyCorp increased their price target on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Two 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 stock. Based on data from MarketBeat.com, Axalta Coating Systems presently has an average rating of “Buy” and an average target price of $42.45.

Axalta Coating Systems Stock Down 0.9 %

Axalta Coating Systems stock traded down $0.38 on Tuesday, hitting $40.28. 376,117 shares of the stock traded hands, compared to its average volume of 2,020,338. The business’s fifty day simple moving average is $36.68 and its 200 day simple moving average is $35.58. The firm has a market cap of $8.78 billion, a P/E ratio of 27.43, a price-to-earnings-growth ratio of 0.87 and a beta of 1.43. 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 has a 1 year low of $30.40 and a 1 year high of $40.91.

Axalta Coating Systems (NYSE:AXTA) last announced its 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. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.32 billion. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the firm earned $0.45 earnings per share. As a group, sell-side analysts forecast that Axalta Coating Systems will post 2.16 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AXTA. Plato Investment Management Ltd acquired a new stake in Axalta Coating Systems in the second quarter worth about $30,000. True Wealth Design LLC acquired a new position in Axalta Coating Systems during the 3rd quarter valued at approximately $37,000. First Horizon Advisors Inc. lifted its stake in shares of 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 buying an additional 266 shares during the period. Millburn Ridgefield Corp purchased a new stake in shares of Axalta Coating Systems during the third quarter valued at $41,000. Finally, GAMMA Investing LLC increased its position in shares of Axalta Coating Systems by 111.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,417 shares of the specialty chemicals company’s stock valued at $48,000 after acquiring an additional 747 shares during the period. 98.28% of the stock is currently owned by hedge funds and other institutional investors.

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.