Citigroup Has Lowered Expectations for Axalta Coating Systems (NYSE:AXTA) Stock Price

Axalta Coating Systems (NYSE:AXTA) had its target price decreased by investment analysts at Citigroup from $42.00 to $32.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. Citigroup’s price objective suggests a potential upside of 0.63% from the stock’s previous close.

A number of other analysts have also recently issued reports on the company. Wolfe Research upgraded Axalta Coating Systems from a “peer perform” rating to an “outperform” rating and set a $41.00 target price for the company in a report on Friday, January 17th. StockNews.com lowered shares of Axalta Coating Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. Barclays raised their target price on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Mizuho decreased their price target on shares of Axalta Coating Systems from $43.00 to $41.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of 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. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Axalta Coating Systems currently has a consensus rating of “Moderate Buy” and an average price target of $41.92.

Axalta Coating Systems Stock Performance

Shares of AXTA stock opened at $31.80 on Tuesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.47 and a current ratio of 2.01. The firm has a market capitalization of $6.94 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 0.92 and a beta of 1.33. Axalta Coating Systems has a one year low of $27.70 and a one year high of $41.66. The company has a 50 day moving average price of $34.73 and a 200 day moving average price of $36.25.

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. Axalta Coating Systems had a return on equity of 26.29% and a net margin of 7.41%. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the company posted $0.43 EPS. The business’s quarterly revenue was up 1.1% on a year-over-year basis. Sell-side 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 firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $37.57, for a total value of $392,869.49. Following the sale, the insider now directly owns 74,905 shares in the company, valued at approximately $2,814,180.85. This trade represents a 12.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AXTA. GAMMA Investing LLC raised its stake in shares of Axalta Coating Systems by 3,005.3% during the first quarter. GAMMA Investing LLC now owns 76,855 shares of the specialty chemicals company’s stock valued at $2,549,000 after purchasing an additional 74,380 shares in the last quarter. Versant Capital Management Inc boosted its stake in Axalta Coating Systems by 263.3% during the first quarter. Versant Capital Management Inc now owns 8,112 shares of the specialty chemicals company’s stock valued at $269,000 after buying an additional 5,879 shares in the last quarter. Kera Capital Partners Inc. acquired a new position in Axalta Coating Systems during the first quarter worth about $240,000. 111 Capital bought a new stake in Axalta Coating Systems in the fourth quarter worth about $658,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Axalta Coating Systems by 12.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 21,746 shares of the specialty chemicals company’s stock valued at $744,000 after acquiring an additional 2,438 shares during the last quarter. 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.