Axalta Coating Systems (NYSE:AXTA) Rating Lowered to Hold at Deutsche Bank Aktiengesellschaft

Axalta Coating Systems (NYSE:AXTA) was downgraded by investment analysts at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a report issued on Friday, MarketBeat.com reports. They currently have a $32.00 price target on the specialty chemicals company’s stock. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential upside of 7.71% from the company’s previous close.

AXTA has been the subject of a number of other research reports. BNP Paribas raised Axalta Coating Systems from a “neutral” rating to an “outperform” rating and set a $38.00 price target for the company in a research report on Thursday, April 10th. Wells Fargo & Company reduced their price target on Axalta Coating Systems from $40.00 to $39.00 and set an “overweight” rating for the company in a research report on Tuesday, July 1st. BMO Capital Markets downgraded Axalta Coating Systems from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $51.00 to $33.00 in a research report on Wednesday. Citigroup reaffirmed a “neutral” rating and set a $34.00 price target (down previously from $35.00) on shares of Axalta Coating Systems in a research report on Friday, June 13th. Finally, Mizuho set a $35.00 price target on Axalta Coating Systems and gave the stock an “outperform” rating in a research report on Tuesday. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.80.

Axalta Coating Systems Stock Performance

Shares of AXTA stock opened at $29.71 on Friday. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.12 and a quick ratio of 1.53. The stock has a market cap of $6.49 billion, a PE ratio of 14.49, a price-to-earnings-growth ratio of 0.83 and a beta of 1.25. The stock has a 50-day moving average of $30.67 and a 200-day moving average of $32.98. Axalta Coating Systems has a one year low of $27.70 and a one year high of $41.66.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings results on Wednesday, May 7th. The specialty chemicals company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. Axalta Coating Systems had a return on equity of 26.30% and a net margin of 8.56%. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the prior year, the business posted $0.48 EPS. Axalta Coating Systems’s revenue was down 2.5% on a year-over-year basis. As a group, sell-side analysts expect that Axalta Coating Systems will post 2.55 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Truist Financial Corp boosted its stake in Axalta Coating Systems by 8.1% in the second quarter. Truist Financial Corp now owns 7,426 shares of the specialty chemicals company’s stock valued at $220,000 after buying an additional 556 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Axalta Coating Systems by 1.0% in the second quarter. Public Employees Retirement System of Ohio now owns 72,794 shares of the specialty chemicals company’s stock valued at $2,161,000 after buying an additional 724 shares in the last quarter. Park Avenue Securities LLC boosted its stake in Axalta Coating Systems by 11.3% in the second quarter. Park Avenue Securities LLC now owns 24,773 shares of the specialty chemicals company’s stock valued at $736,000 after buying an additional 2,506 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in Axalta Coating Systems by 29.5% in the second quarter. Wedge Capital Management L L P NC now owns 134,443 shares of the specialty chemicals company’s stock valued at $3,992,000 after buying an additional 30,617 shares in the last quarter. Finally, Shelton Wealth Management LLC boosted its stake in Axalta Coating Systems by 15.7% in the second quarter. Shelton Wealth Management LLC now owns 29,910 shares of the specialty chemicals company’s stock valued at $888,000 after buying an additional 4,062 shares in the last quarter. Institutional investors 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.