Wells Fargo & Company Cuts Axalta Coating Systems (NYSE:AXTA) Price Target to $42.00

Axalta Coating Systems (NYSE:AXTA) had its target price decreased by Wells Fargo & Company from $45.00 to $42.00 in a research note published on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the specialty chemicals company’s stock.

AXTA has been the topic of a number of other reports. Barclays raised their price target on Axalta Coating Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. KeyCorp reaffirmed a “sector weight” rating on shares of Axalta Coating Systems in a report on Tuesday, December 17th. Wolfe Research upgraded Axalta Coating Systems from a “peer perform” rating to an “outperform” rating and set a $41.00 price objective on the stock in a report on Friday, January 17th. Citigroup downgraded shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and cut their target price for the company from $45.00 to $41.00 in a research note on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Axalta Coating Systems from $44.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $43.00.

Axalta Coating Systems Stock Down 5.8 %

Shares of NYSE:AXTA opened at $29.73 on Thursday. The stock has a market capitalization of $6.49 billion, a price-to-earnings ratio of 16.70, a price-to-earnings-growth ratio of 0.92 and a beta of 1.33. Axalta Coating Systems has a 1-year low of $28.95 and a 1-year high of $41.66. The company’s fifty day moving average is $35.41 and its two-hundred day moving average is $36.47. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.47 and a current ratio of 2.01.

Axalta Coating Systems (NYSE:AXTA) last issued its earnings results on Tuesday, February 4th. The specialty chemicals company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.09. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.31 billion. Axalta Coating Systems had a return on equity of 26.29% and a net margin of 7.41%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the company earned $0.43 earnings per share. Equities analysts anticipate that Axalta Coating Systems will post 2.55 EPS for the current year.

Insiders Place Their Bets

In other Axalta Coating Systems news, insider Troy D. Weaver sold 10,457 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $37.57, for a total value of $392,869.49. Following the completion of the sale, the insider now owns 74,905 shares of the company’s stock, valued at $2,814,180.85. The trade was a 12.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AXTA. Eagle Bay Advisors LLC boosted its position in Axalta Coating Systems by 116.3% during the fourth quarter. Eagle Bay Advisors LLC now owns 824 shares of the specialty chemicals company’s stock worth $28,000 after purchasing an additional 443 shares during the period. Millburn Ridgefield Corp acquired a new stake in shares of Axalta Coating Systems in the third quarter worth $41,000. Jones Financial Companies Lllp boosted its holdings in shares of Axalta Coating Systems by 60.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,318 shares of the specialty chemicals company’s stock worth $45,000 after buying an additional 498 shares during the period. UMB Bank n.a. grew its stake in Axalta Coating Systems by 35.4% in the 4th quarter. UMB Bank n.a. now owns 2,093 shares of the specialty chemicals company’s stock valued at $72,000 after buying an additional 547 shares during the last quarter. Finally, Plato Investment Management Ltd raised its holdings in Axalta Coating Systems by 156.4% in the 4th quarter. Plato Investment Management Ltd now owns 2,238 shares of the specialty chemicals company’s stock worth $77,000 after acquiring an additional 1,365 shares during the period. 98.28% of the stock is owned by institutional investors.

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.