Axalta Coating Systems (NYSE:AXTA) Reaches New 1-Year High – Here’s What Happened

Axalta Coating Systems Ltd. (NYSE:AXTA)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $39.81 and last traded at $39.81, with a volume of 3113 shares traded. The stock had previously closed at $38.42.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AXTA. Barclays upped their price target on Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. KeyCorp increased their price target on Axalta Coating Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. UBS Group reduced their price objective on shares of Axalta Coating Systems from $39.00 to $38.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Royal Bank of Canada raised their target price on shares of Axalta Coating Systems from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $41.70.

Axalta Coating Systems Trading Up 2.2 %

The company has a quick ratio of 1.42, a current ratio of 2.00 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $8.57 billion, a price-to-earnings ratio of 25.98, a P/E/G ratio of 0.81 and a beta of 1.43. The business has a 50-day moving average of $36.08 and a two-hundred day moving average of $35.20.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings data on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.08. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. Axalta Coating Systems’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.45 EPS. Research analysts predict that Axalta Coating Systems Ltd. will post 2.16 EPS for the current fiscal year.

Institutional Trading of Axalta Coating Systems

Large investors have recently added to or reduced their stakes in the company. Plato Investment Management Ltd acquired a new stake in Axalta Coating Systems in the 2nd quarter valued at about $30,000. GAMMA Investing LLC increased its holdings in shares of Axalta Coating Systems by 111.5% in the second quarter. GAMMA Investing LLC now owns 1,417 shares of the specialty chemicals company’s stock valued at $48,000 after purchasing an additional 747 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Axalta Coating Systems in the 3rd quarter worth approximately $54,000. UMB Bank n.a. boosted its position in Axalta Coating Systems by 90.2% in the 3rd quarter. UMB Bank n.a. now owns 1,546 shares of the specialty chemicals company’s stock valued at $56,000 after buying an additional 733 shares during the last quarter. Finally, Versant Capital Management Inc acquired a new stake in shares of Axalta Coating Systems in the 2nd quarter valued at $71,000. 98.28% of the stock is owned by institutional investors.

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.