The Goldman Sachs Group Cuts Axalta Coating Systems (NYSE:AXTA) Price Target to $40.00

Axalta Coating Systems (NYSE:AXTA) had its target price lowered by stock analysts at The Goldman Sachs Group from $46.00 to $40.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the specialty chemicals company’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 23.61% from the company’s current price.

Several other analysts have also issued reports on the stock. BNP Paribas upgraded shares of Axalta Coating Systems from a “neutral” rating to an “outperform” rating and set a $38.00 target price for the company in a research report on Thursday, April 10th. Wells Fargo & Company increased their price objective on shares of Axalta Coating Systems from $37.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Barclays raised 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 note on Wednesday, February 5th. Citigroup cut their target price on shares of Axalta Coating Systems from $42.00 to $32.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Finally, StockNews.com downgraded shares of Axalta Coating Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.38.

Axalta Coating Systems Trading Down 1.5%

Shares of AXTA opened at $32.36 on Wednesday. The firm’s 50-day moving average price is $32.33 and its 200-day moving average price is $35.48. The firm has a market capitalization of $7.07 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 0.92 and a beta of 1.35. The company has a current ratio of 2.01, a quick ratio of 1.47 and a debt-to-equity ratio of 1.74. Axalta Coating Systems has a 1-year low of $27.70 and a 1-year high of $41.66.

Axalta Coating Systems (NYSE:AXTA) last issued its earnings results on Wednesday, May 7th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.05. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Axalta Coating Systems had a net margin of 7.41% and a return on equity of 26.29%. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.48 earnings per share. Sell-side analysts anticipate that Axalta Coating Systems will post 2.55 EPS for the current year.

Institutional Investors Weigh In On Axalta Coating Systems

Hedge funds and other institutional investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC raised its position in shares of Axalta Coating Systems by 1.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 23,951 shares of the specialty chemicals company’s stock valued at $820,000 after purchasing an additional 323 shares in the last quarter. Principal Securities Inc. grew its stake in shares of Axalta Coating Systems by 5.5% in the fourth quarter. Principal Securities Inc. now owns 6,378 shares of the specialty chemicals company’s stock worth $218,000 after purchasing an additional 332 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Axalta Coating Systems by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 6,744 shares of the specialty chemicals company’s stock valued at $231,000 after buying an additional 334 shares in the last quarter. ProShare Advisors LLC boosted its stake in Axalta Coating Systems by 2.9% during the fourth quarter. ProShare Advisors LLC now owns 12,242 shares of the specialty chemicals company’s stock valued at $419,000 after buying an additional 343 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Axalta Coating Systems by 12.1% during the first quarter. Fifth Third Bancorp now owns 3,704 shares of the specialty chemicals company’s stock valued at $123,000 after purchasing an additional 401 shares during the last quarter. Institutional investors and hedge funds 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.