Mizuho Lowers Axalta Coating Systems (NYSE:AXTA) Price Target to $38.00

Axalta Coating Systems (NYSE:AXTA) had its target price lowered by Mizuho from $40.00 to $38.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the specialty chemicals company’s stock. Mizuho’s price objective would indicate a potential upside of 7.95% from the company’s current price.

A number of other brokerages have also recently issued reports on AXTA. Citigroup boosted their price objective on Axalta Coating Systems from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Wells Fargo & Company boosted their price target on shares of Axalta Coating Systems from $31.00 to $33.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 9th. UBS Group downgraded shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $35.00 to $36.00 in a report on Monday, January 8th. JPMorgan Chase & Co. boosted their target price on shares of Axalta Coating Systems from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Finally, Wolfe Research initiated coverage on Axalta Coating Systems in a report on Friday, March 1st. They issued a “peer perform” rating for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

Axalta Coating Systems Stock Performance

Shares of Axalta Coating Systems stock traded up $0.37 on Thursday, reaching $35.20. 3,991,263 shares of the company traded hands, compared to its average volume of 2,581,191. The company has a 50 day moving average of $32.78 and a 200 day moving average of $31.82. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.07 and a quick ratio of 1.46. Axalta Coating Systems has a 52 week low of $25.03 and a 52 week high of $35.31. The firm has a market capitalization of $7.77 billion, a PE ratio of 31.72, a PEG ratio of 1.08 and a beta of 1.51.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings data on Wednesday, May 1st. The specialty chemicals company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.40 by $0.08. Axalta Coating Systems had a return on equity of 21.82% and a net margin of 4.77%. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the business earned $0.35 earnings per share. Axalta Coating Systems’s revenue for the quarter was up 1.3% on a year-over-year basis. Equities analysts forecast that Axalta Coating Systems will post 1.98 earnings per share for the current year.

Institutional Trading of Axalta Coating Systems

A number of large investors have recently modified their holdings of AXTA. Fifth Third Bancorp raised its stake in Axalta Coating Systems by 47.7% in the fourth quarter. Fifth Third Bancorp now owns 1,046 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 338 shares in the last quarter. TFO Wealth Partners LLC increased its holdings in shares of Axalta Coating Systems by 12,022.2% in the 4th quarter. TFO Wealth Partners LLC now owns 1,091 shares of the specialty chemicals company’s stock worth $37,000 after buying an additional 1,082 shares during the last quarter. Raleigh Capital Management Inc. purchased a new stake in shares of Axalta Coating Systems during the 4th quarter valued at $48,000. CWM LLC raised its position in shares of Axalta Coating Systems by 35.6% during the 3rd quarter. CWM LLC now owns 2,474 shares of the specialty chemicals company’s stock valued at $67,000 after buying an additional 649 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Axalta Coating Systems during the 4th quarter worth $88,000. 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.