Evercore ISI Begins Coverage on Axalta Coating Systems (NYSE:AXTA)

Evercore ISI assumed coverage on shares of Axalta Coating Systems (NYSE:AXTA) in a research report sent to investors on Wednesday morning, MarketBeat reports. The brokerage issued an outperform rating and a $47.00 target price on the specialty chemicals company’s stock.

AXTA has been the subject of several other research reports. Royal Bank of Canada raised their target price on Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. KeyCorp lifted their price target on Axalta Coating Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. lifted their price target on Axalta Coating Systems from $40.00 to $41.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Mizuho raised their price objective on Axalta Coating Systems from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, Barclays raised 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. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $42.45.

Axalta Coating Systems Trading Down 0.9 %

Shares of Axalta Coating Systems stock opened at $40.29 on Wednesday. Axalta Coating Systems has a 1 year low of $30.40 and a 1 year high of $40.91. The firm has a market cap of $8.79 billion, a PE ratio of 27.22, a P/E/G ratio of 0.87 and a beta of 1.43. The stock has a fifty day moving average price of $36.79 and a 200-day moving average price of $35.64. 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 issued its earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.51 by $0.08. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the company earned $0.45 EPS. The firm’s revenue was up .8% compared to the same quarter last year. Equities research analysts anticipate that Axalta Coating Systems will post 2.16 EPS for the current year.

Institutional Investors Weigh In On Axalta Coating Systems

Several hedge funds have recently added to or reduced their stakes in AXTA. Millennium Management LLC increased its position in Axalta Coating Systems by 89.7% during the second quarter. Millennium Management LLC now owns 2,733,703 shares of the specialty chemicals company’s stock valued at $93,411,000 after acquiring an additional 1,292,434 shares during the last quarter. Interval Partners LP increased its position in Axalta Coating Systems by 716.6% in the second quarter. Interval Partners LP now owns 1,224,961 shares of the specialty chemicals company’s stock worth $41,857,000 after buying an additional 1,074,961 shares in the last quarter. PointState Capital LP purchased a new stake in Axalta Coating Systems in the third quarter worth about $30,257,000. Vanguard Group Inc. increased its position in Axalta Coating Systems by 2.4% in the first quarter. Vanguard Group Inc. now owns 23,763,601 shares of the specialty chemicals company’s stock worth $817,230,000 after buying an additional 554,806 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Axalta Coating Systems by 5.6% in the second quarter. Victory Capital Management Inc. now owns 10,403,246 shares of the specialty chemicals company’s stock worth $355,479,000 after acquiring an additional 550,970 shares during the period. 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.