Citigroup Issues Pessimistic Forecast for Axalta Coating Systems (NYSE:AXTA) Stock Price

Axalta Coating Systems (NYSE:AXTA) had its price objective dropped by research analysts at Citigroup from $42.00 to $32.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. Citigroup’s price target indicates a potential upside of 0.63% from the stock’s previous close.

A number of other brokerages have also recently issued reports on AXTA. KeyCorp reissued a “sector weight” rating on shares of Axalta Coating Systems in a research report on Tuesday, December 17th. Mizuho decreased their price objective on Axalta Coating Systems from $43.00 to $41.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. StockNews.com cut shares of Axalta Coating Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Axalta Coating Systems from $44.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, Wells Fargo & Company dropped their price objective on shares of Axalta Coating Systems from $45.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 3rd. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $41.92.

Axalta Coating Systems Stock Up 11.6 %

Shares of NYSE AXTA opened at $31.80 on Tuesday. Axalta Coating Systems has a 1 year low of $27.70 and a 1 year high of $41.66. The company has a market capitalization of $6.94 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 0.92 and a beta of 1.33. 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 has a 50-day moving average of $34.73 and a two-hundred day moving average of $36.25.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings results on Tuesday, February 4th. The specialty chemicals company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.09. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.31 billion. Axalta Coating Systems had a return on equity of 26.29% and a net margin of 7.41%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.43 earnings per share. On average, analysts forecast that Axalta Coating Systems will post 2.55 earnings per share for the current fiscal year.

Insider Activity at Axalta Coating Systems

In other Axalta Coating Systems news, insider Troy D. Weaver sold 10,457 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $37.57, for a total value of $392,869.49. Following the completion of the transaction, the insider now directly owns 74,905 shares of the company’s stock, valued at approximately $2,814,180.85. This trade represents a 12.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Axalta Coating Systems

A number of institutional investors and hedge funds have recently modified their holdings of the company. Captrust Financial Advisors grew its holdings in Axalta Coating Systems by 12.9% in the third quarter. Captrust Financial Advisors now owns 18,940 shares of the specialty chemicals company’s stock valued at $685,000 after purchasing an additional 2,165 shares during the last quarter. Janus Henderson Group PLC grew its stake in Axalta Coating Systems by 28.4% in the 3rd quarter. Janus Henderson Group PLC now owns 160,458 shares of the specialty chemicals company’s stock valued at $5,806,000 after acquiring an additional 35,496 shares during the last quarter. State Street Corp increased its holdings in Axalta Coating Systems by 0.7% during the 3rd quarter. State Street Corp now owns 6,822,955 shares of the specialty chemicals company’s stock valued at $246,923,000 after acquiring an additional 46,813 shares in the last quarter. XTX Topco Ltd raised its position in Axalta Coating Systems by 326.3% during the third quarter. XTX Topco Ltd now owns 27,895 shares of the specialty chemicals company’s stock worth $1,010,000 after acquiring an additional 21,352 shares during the last quarter. Finally, MML Investors Services LLC lifted its holdings in shares of Axalta Coating Systems by 8.7% in the third quarter. MML Investors Services LLC now owns 67,897 shares of the specialty chemicals company’s stock valued at $2,457,000 after purchasing an additional 5,425 shares in 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.