Barclays Has Lowered Expectations for Axalta Coating Systems (NYSE:AXTA) Stock Price

Axalta Coating Systems (NYSE:AXTA) had its price target decreased by Barclays from $45.00 to $42.00 in a research report sent to investors on Thursday morning,Benzinga reports. Barclays currently has an overweight rating on the specialty chemicals company’s stock.

A number of other equities research analysts also recently issued reports on AXTA. BNP Paribas upgraded shares of Axalta Coating Systems from a “neutral” rating to an “outperform” rating and set a $38.00 price objective on the stock in a research note on Thursday, April 10th. StockNews.com downgraded shares of Axalta Coating Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 8th. JPMorgan Chase & Co. lowered shares of Axalta Coating Systems from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $42.00 to $32.00 in a research report on Thursday, May 8th. The Goldman Sachs Group decreased their price objective on shares of Axalta Coating Systems from $46.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Wolfe Research upgraded Axalta Coating Systems from a “peer perform” rating to an “outperform” rating and set a $41.00 target price for the company in a research note on Friday, January 17th. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Axalta Coating Systems has a consensus rating of “Moderate Buy” and a consensus target price of $40.38.

Axalta Coating Systems Trading Up 0.8%

Shares of NYSE:AXTA opened at $32.65 on Thursday. The company has a market capitalization of $7.14 billion, a P/E ratio of 18.34, a P/E/G ratio of 0.92 and a beta of 1.35. Axalta Coating Systems has a 1 year low of $27.70 and a 1 year high of $41.66. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.01 and a quick ratio of 1.47. The business’s 50 day simple moving average is $32.31 and its 200 day simple moving average is $35.44.

Axalta Coating Systems (NYSE:AXTA) last released its earnings results on Wednesday, May 7th. The specialty chemicals company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. Axalta Coating Systems had a return on equity of 26.29% and a net margin of 7.41%. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the company posted $0.48 EPS. The company’s revenue was down 2.5% compared to the same quarter last year. On average, research analysts anticipate that Axalta Coating Systems will post 2.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in Axalta Coating Systems by 3.2% during the 1st quarter. JPMorgan Chase & Co. now owns 11,637,025 shares of the specialty chemicals company’s stock worth $386,000,000 after purchasing an additional 356,143 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Axalta Coating Systems by 9.6% during the 4th quarter. Victory Capital Management Inc. now owns 11,321,994 shares of the specialty chemicals company’s stock worth $387,439,000 after buying an additional 988,397 shares during the period. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Axalta Coating Systems by 29.8% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 7,250,351 shares of the specialty chemicals company’s stock valued at $240,494,000 after purchasing an additional 1,663,261 shares during the period. Wellington Management Group LLP boosted its position in shares of Axalta Coating Systems by 2.0% during the 1st quarter. Wellington Management Group LLP now owns 6,730,406 shares of the specialty chemicals company’s stock worth $223,248,000 after purchasing an additional 132,234 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Axalta Coating Systems by 6.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,140,945 shares of the specialty chemicals company’s stock worth $137,344,000 after purchasing an additional 266,907 shares in the last quarter. Institutional investors and hedge funds 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.