Zacks Investment Research Upgrades Axalta Coating Systems (NYSE:AXTA) to “Hold”

Axalta Coating Systems (NYSE:AXTA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks.com reports.

According to Zacks, “Axalta Coating Systems Ltd. is a global coatings company engaged in the manufacturing, marketing and distribution of coatings systems. The company offers waterborne and solvent borne coatings; liquid and powder coatings; and liquid coatings. It provides a range of performance and transportation coatings for manufacturers of light and commercial vehicles, the refinish aftermarket and for many industrial applications. The Company’s products and services include paint, color matching tools, application technologies and customer training, support and business management systems. Axalta Coating Systems Ltd. is headquartered in Philadelphia, Pennsylvania. “

Several other research firms also recently issued reports on AXTA. Berenberg Bank initiated coverage on shares of Axalta Coating Systems in a report on Friday, July 12th. They set a “buy” rating and a $35.00 price objective on the stock. ValuEngine downgraded shares of Axalta Coating Systems from a “hold” rating to a “sell” rating in a report on Thursday. Maxim Group initiated coverage on shares of Axalta Coating Systems in a report on Wednesday, June 19th. Robert W. Baird boosted their price objective on shares of Axalta Coating Systems from $30.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Nomura boosted their price objective on shares of Axalta Coating Systems from $28.00 to $29.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $32.08.

AXTA traded down $0.07 during trading on Monday, hitting $28.97. The stock had a trading volume of 1,107,791 shares, compared to its average volume of 2,238,007. The company has a 50 day simple moving average of $29.63 and a 200-day simple moving average of $27.99. Axalta Coating Systems has a 12 month low of $21.58 and a 12 month high of $32.20. The company has a current ratio of 2.32, a quick ratio of 1.71 and a debt-to-equity ratio of 2.92. The firm has a market cap of $6.72 billion, a PE ratio of 22.63, a P/E/G ratio of 1.20 and a beta of 1.46.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings data on Thursday, July 25th. The specialty chemicals company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.09. Axalta Coating Systems had a net margin of 4.45% and a return on equity of 27.59%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the firm posted $0.36 EPS. The business’s revenue was down 4.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Axalta Coating Systems will post 1.79 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of AXTA. Parallel Advisors LLC increased its stake in Axalta Coating Systems by 639.8% in the second quarter. Parallel Advisors LLC now owns 910 shares of the specialty chemicals company’s stock valued at $27,000 after acquiring an additional 787 shares during the period. NEXT Financial Group Inc increased its stake in Axalta Coating Systems by 633.3% in the second quarter. NEXT Financial Group Inc now owns 1,100 shares of the specialty chemicals company’s stock valued at $33,000 after acquiring an additional 950 shares during the period. Hexavest Inc. bought a new stake in Axalta Coating Systems in the second quarter valued at about $46,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Axalta Coating Systems in the second quarter valued at about $57,000. Finally, SRS Capital Advisors Inc. bought a new stake in Axalta Coating Systems in the second quarter valued at about $58,000. 98.30% of the stock is currently owned by institutional investors and hedge funds.

About Axalta Coating Systems

Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings systems. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers water and solvent borne products and systems that are used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.

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