Axalta Coating Systems (NYSE:AXTA) Now Covered by Analysts at Wells Fargo & Co

Wells Fargo & Co began coverage on shares of Axalta Coating Systems (NYSE:AXTA) in a report issued on Tuesday morning, The Fly reports. The firm issued a market perform rating and a $31.00 price objective on the specialty chemicals company’s stock.

Other equities research analysts also recently issued reports about the company. ValuEngine downgraded Axalta Coating Systems from a hold rating to a sell rating in a research note on Thursday, October 10th. TheStreet raised Axalta Coating Systems from a c+ rating to a b rating in a research report on Friday, July 26th. BMO Capital Markets lifted their price objective on Axalta Coating Systems to $34.00 and gave the company a market perform rating in a research report on Friday, June 21st. Zacks Investment Research raised Axalta Coating Systems from a sell rating to a hold rating in a research report on Monday. Finally, Robert W. Baird lifted their price objective on Axalta Coating Systems from $30.00 to $35.00 and gave the company an outperform rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $32.00.

Axalta Coating Systems stock opened at $28.80 on Tuesday. The business has a 50-day simple moving average of $29.79 and a two-hundred day simple moving average of $28.07. The company has a market cap of $6.77 billion, a P/E ratio of 22.50, a P/E/G ratio of 1.20 and a beta of 1.46. Axalta Coating Systems has a 52-week low of $21.58 and a 52-week high of $32.20. The company has a quick ratio of 1.71, a current ratio of 2.32 and a debt-to-equity ratio of 2.92.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings results on Thursday, July 25th. The specialty chemicals company reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.09. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.19 billion. Axalta Coating Systems had a return on equity of 27.59% and a net margin of 4.45%. The business’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 EPS. Research analysts anticipate that Axalta Coating Systems will post 1.78 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC lifted its position in shares of Axalta Coating Systems by 639.8% during the 2nd quarter. Parallel Advisors LLC now owns 910 shares of the specialty chemicals company’s stock valued at $27,000 after buying an additional 787 shares in the last quarter. NEXT Financial Group Inc lifted its position in shares of Axalta Coating Systems by 633.3% during the 2nd quarter. NEXT Financial Group Inc now owns 1,100 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 950 shares in the last quarter. Hexavest Inc. purchased a new position in Axalta Coating Systems in the 2nd quarter worth approximately $46,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Axalta Coating Systems in the 2nd quarter worth approximately $57,000. Finally, SRS Capital Advisors Inc. purchased a new position in Axalta Coating Systems in the 2nd quarter worth approximately $58,000. 98.30% of the stock is currently owned by hedge funds and other institutional investors.

About Axalta Coating Systems

Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings systems. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers water and solvent borne products and systems that are used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.

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