Axalta Coating Systems (NYSE:AXTA) Lowered to “Neutral” Rating by Citigroup

Citigroup cut shares of Axalta Coating Systems (NYSE:AXTA) from a buy rating to a neutral rating in a research report released on Wednesday, MarketBeat.com reports. They currently have $41.00 price target on the specialty chemicals company’s stock, down from their prior price target of $45.00.

A number of other equities research analysts also recently weighed in on the company. Mizuho raised their price objective on Axalta Coating Systems from $42.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. BMO Capital Markets boosted their price objective on shares of Axalta Coating Systems from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Evercore ISI initiated coverage on shares of Axalta Coating Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $47.00 target price for the company. KeyCorp reaffirmed a “sector weight” rating on shares of Axalta Coating Systems in a report on Tuesday. Finally, Barclays increased their price objective on Axalta Coating Systems from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.55.

Axalta Coating Systems Stock Performance

Axalta Coating Systems stock opened at $35.01 on Wednesday. Axalta Coating Systems has a 1-year low of $30.40 and a 1-year high of $41.65. The company’s 50-day moving average is $38.46 and its 200 day moving average is $36.32. The firm has a market capitalization of $7.63 billion, a P/E ratio of 23.66, a price-to-earnings-growth ratio of 0.83 and a beta of 1.44. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.00 and a quick ratio of 1.42.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Plato Investment Management Ltd purchased a new position in Axalta Coating Systems in the second quarter valued at $30,000. True Wealth Design LLC acquired a new position in Axalta Coating Systems in the 3rd quarter worth about $37,000. First Horizon Advisors Inc. boosted its position in Axalta Coating Systems by 35.2% during the third quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 266 shares in the last quarter. Millburn Ridgefield Corp purchased a new stake in shares of Axalta Coating Systems in the third quarter valued at approximately $41,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Axalta Coating Systems during the 3rd quarter valued at approximately $54,000. 98.28% of the stock is 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 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.