Axalta Coating Systems (NYSE:AXTA) Issues Quarterly Earnings Results

Axalta Coating Systems (NYSE:AXTA) released its quarterly earnings data on Thursday. The specialty chemicals company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06, Briefing.com reports. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. Axalta Coating Systems had a return on equity of 21.82% and a net margin of 4.77%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the business posted $0.35 EPS.

Axalta Coating Systems Price Performance

Shares of AXTA traded down $1.43 during trading hours on Friday, hitting $35.21. 2,428,282 shares of the company were exchanged, compared to its average volume of 2,075,656. The firm has a fifty day simple moving average of $35.02 and a 200-day simple moving average of $33.73. The company has a market capitalization of $7.77 billion, a PE ratio of 31.80, a PEG ratio of 0.92 and a beta of 1.44. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.07 and a quick ratio of 1.51. Axalta Coating Systems has a one year low of $25.03 and a one year high of $37.49.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AXTA shares. Citigroup upped their price target on Axalta Coating Systems from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. increased their target price on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. UBS Group cut their price target on Axalta Coating Systems from $39.00 to $38.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Mizuho upped their price target on shares of Axalta Coating Systems from $38.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Finally, KeyCorp raised their target price on Axalta Coating Systems from $40.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Axalta Coating Systems currently has an average rating of “Moderate Buy” and an average price target of $39.17.

About Axalta Coating Systems

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.