Wells Fargo & Company Lowers Axalta Coating Systems (NYSE:AXTA) Price Target to $27.00

Axalta Coating Systems (NYSE:AXTAGet Rating) had its price objective lowered by equities research analysts at Wells Fargo & Company from $32.00 to $27.00 in a research note issued on Monday, The Fly reports. Wells Fargo & Company‘s price objective points to a potential upside of 7.44% from the stock’s current price.

Several other analysts also recently commented on the company. Morgan Stanley lowered their price objective on Axalta Coating Systems from $35.00 to $33.00 and set an “equal weight” rating for the company in a research note on Thursday, February 3rd. StockNews.com started coverage on Axalta Coating Systems in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Vertical Research downgraded Axalta Coating Systems from a “buy” rating to a “hold” rating and set a $34.00 price target for the company. in a research report on Wednesday, February 2nd. Royal Bank of Canada downgraded Axalta Coating Systems from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $33.00 to $26.00 in a research report on Friday, March 25th. Finally, Deutsche Bank Aktiengesellschaft downgraded Axalta Coating Systems from a “buy” rating to a “hold” rating and decreased their price target for the company from $34.00 to $27.00 in a research report on Monday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Axalta Coating Systems currently has a consensus rating of “Hold” and an average target price of $32.82.

Shares of Axalta Coating Systems stock opened at $25.13 on Monday. The company has a market cap of $5.64 billion, a PE ratio of 22.24, a price-to-earnings-growth ratio of 0.87 and a beta of 1.42. Axalta Coating Systems has a 52 week low of $21.67 and a 52 week high of $34.20. The business has a 50 day moving average price of $25.77 and a 200-day moving average price of $29.48. The company has a quick ratio of 1.43, a current ratio of 1.93 and a debt-to-equity ratio of 2.44.

Axalta Coating Systems (NYSE:AXTAGet Rating) last issued its quarterly earnings data on Monday, January 31st. The specialty chemicals company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.01). The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Axalta Coating Systems had a return on equity of 25.96% and a net margin of 5.98%. During the same period last year, the company earned $0.58 earnings per share. As a group, research analysts anticipate that Axalta Coating Systems will post 1.76 EPS for the current year.

In other news, Director William M. Cook acquired 2,000 shares of Axalta Coating Systems stock in a transaction on Friday, March 4th. The stock was acquired at an average cost of $24.64 per share, with a total value of $49,280.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. Wedge Capital Management L L P NC boosted its holdings in shares of Axalta Coating Systems by 17.2% in the first quarter. Wedge Capital Management L L P NC now owns 26,434 shares of the specialty chemicals company’s stock worth $650,000 after acquiring an additional 3,883 shares during the period. First Hawaiian Bank boosted its holdings in shares of Axalta Coating Systems by 142.2% in the first quarter. First Hawaiian Bank now owns 19,734 shares of the specialty chemicals company’s stock worth $485,000 after acquiring an additional 11,585 shares during the period. Norges Bank bought a new position in shares of Axalta Coating Systems in the fourth quarter worth $64,174,000. Walleye Capital LLC bought a new position in shares of Axalta Coating Systems in the fourth quarter worth $1,163,000. Finally, Quent Capital LLC bought a new position in shares of Axalta Coating Systems in the fourth quarter worth $34,000. 97.09% of the stock is owned by hedge funds and other institutional investors.

About Axalta Coating Systems (Get Rating)

Axalta Coating Systems Ltd. engages in the manufacture, marketing and distribution of coatings systems. It operates through the Performance Coatings and Transportation Coatings business segments. The Performance Coatings segment provides liquid and powder coatings solutions to a fragmented and local customer base.

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