Research Analysts Issue Forecasts for Axalta Coating Systems Ltd.’s FY2022 Earnings (NYSE:AXTA)

Axalta Coating Systems Ltd. (NYSE:AXTA – Get Rating) – Research analysts at Seaport Res Ptn upped their FY2022 EPS estimates for shares of Axalta Coating Systems in a report released on Tuesday, May 3rd. Seaport Res Ptn analyst M. Harrison now forecasts that the specialty chemicals company will post earnings per share of $1.74 for the year, up from their previous estimate of $1.68. Seaport Res Ptn also issued estimates for Axalta Coating Systems’ FY2023 earnings at $2.29 EPS.

Axalta Coating Systems (NYSE:AXTA – Get Rating) last issued its quarterly earnings data on Monday, April 25th. The specialty chemicals company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.11 billion. Axalta Coating Systems had a net margin of 6.41% and a return on equity of 22.66%. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.50 earnings per share.

A number of other analysts have also recently commented on AXTA. Morgan Stanley reduced their target price on shares of Axalta Coating Systems from $35.00 to $33.00 and set an “equal weight” rating for the company in a report on Thursday, February 3rd. TheStreet cut shares of Axalta Coating Systems from a “b-” rating to a “c+” rating in a report on Monday, March 21st. Wells Fargo & Company reduced their target price on shares of Axalta Coating Systems from $32.00 to $27.00 and set an “equal weight” rating for the company in a report on Monday, April 18th. Barclays reduced their target price on shares of Axalta Coating Systems from $35.00 to $34.00 in a report on Monday. Finally, Jefferies Financial Group reduced their target price on shares of Axalta Coating Systems from $33.00 to $26.00 and set a “hold” rating for the company in a report on Wednesday, March 9th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $31.30.

Shares of AXTA stock opened at $26.36 on Friday. Axalta Coating Systems has a 12 month low of $21.67 and a 12 month high of $34.20. The stock has a market cap of $5.84 billion, a P/E ratio of 21.31, a P/E/G ratio of 0.91 and a beta of 1.29. The company has a current ratio of 1.87, a quick ratio of 1.30 and a debt-to-equity ratio of 2.63. The company has a 50 day simple moving average of $25.03 and a two-hundred day simple moving average of $29.07.

In other Axalta Coating Systems news, Director William M. Cook acquired 2,000 shares of the stock in a transaction on Friday, March 4th. The stock was acquired at an average price of $24.64 per share, for a total transaction of $49,280.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in AXTA. Quent Capital LLC bought a new stake in shares of Axalta Coating Systems in the 4th quarter worth about $34,000. KB Financial Partners LLC purchased a new position in Axalta Coating Systems in the 4th quarter worth about $35,000. First Horizon Advisors Inc. increased its stake in Axalta Coating Systems by 448.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,239 shares of the specialty chemicals company’s stock worth $36,000 after buying an additional 1,013 shares during the period. Standard Family Office LLC purchased a new position in Axalta Coating Systems during the 4th quarter valued at about $40,000. Finally, CWM LLC purchased a new position in Axalta Coating Systems during the 1st quarter valued at about $41,000. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Axalta Coating Systems Company Profile (Get Rating)

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. It operates through two segments, Performance Coatings and Transportation Coatings. The company offers water and solvent-borne products and systems to repair damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.

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