Axalta Coating Systems (NYSE:AXTA) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Axalta Coating Systems (NYSE:AXTA) from a sell rating to a hold rating in a research report sent to investors on Wednesday, Zacks.com reports.

According to Zacks, “Axalta Coating Systems Ltd. is a global coatings company engaged in the manufacturing, marketing and distribution of coatings systems. The company offers waterborne and solvent borne coatings; liquid and powder coatings; and liquid coatings. It provides a range of performance and transportation coatings for manufacturers of light and commercial vehicles, the refinish aftermarket and for many industrial applications. The Company’s products and services include paint, color matching tools, application technologies and customer training, support and business management systems. Axalta Coating Systems Ltd. is headquartered in Philadelphia, Pennsylvania. “

Other equities analysts also recently issued research reports about the company. Mizuho started coverage on Axalta Coating Systems in a research note on Tuesday, October 12th. They issued a buy rating and a $40.00 price objective on the stock. TheStreet upgraded Axalta Coating Systems from a c+ rating to a b rating in a research note on Wednesday, October 13th. Finally, Royal Bank of Canada dropped their price objective on Axalta Coating Systems from $38.00 to $36.00 and set an outperform rating on the stock in a research note on Tuesday, September 21st. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Buy and an average target price of $36.60.

AXTA stock opened at $32.74 on Wednesday. The firm has a market cap of $7.48 billion, a PE ratio of 27.28, a P/E/G ratio of 0.84 and a beta of 1.41. The company has a quick ratio of 1.44, a current ratio of 1.97 and a debt-to-equity ratio of 2.55. The business has a 50 day moving average of $32.30 and a 200-day moving average of $30.95. Axalta Coating Systems has a 12-month low of $26.42 and a 12-month high of $34.20.

Axalta Coating Systems (NYSE:AXTA) last released its earnings results on Sunday, October 24th. The specialty chemicals company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.05. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.10 billion. Axalta Coating Systems had a return on equity of 30.83% and a net margin of 6.44%. Axalta Coating Systems’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.59 earnings per share. On average, research analysts expect that Axalta Coating Systems will post 1.76 earnings per share for the current year.

In other Axalta Coating Systems news, SVP Troy D. Weaver sold 24,000 shares of the stock in a transaction on Tuesday, November 2nd. The stock was sold at an average price of $31.46, for a total transaction of $755,040.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.50% of the company’s stock.

Large investors have recently bought and sold shares of the business. First Horizon Advisors Inc. lifted its position in shares of Axalta Coating Systems by 448.2% during the third quarter. First Horizon Advisors Inc. now owns 1,239 shares of the specialty chemicals company’s stock worth $36,000 after acquiring an additional 1,013 shares in the last quarter. FORA Capital LLC purchased a new stake in shares of Axalta Coating Systems in the second quarter worth $46,000. Pinnacle Bancorp Inc. raised its position in shares of Axalta Coating Systems by 35.0% in the third quarter. Pinnacle Bancorp Inc. now owns 1,796 shares of the specialty chemicals company’s stock worth $52,000 after buying an additional 466 shares in the last quarter. Eagle Bay Advisors LLC raised its position in shares of Axalta Coating Systems by 257.1% in the third quarter. Eagle Bay Advisors LLC now owns 1,932 shares of the specialty chemicals company’s stock worth $57,000 after buying an additional 1,391 shares in the last quarter. Finally, Amundi purchased a new stake in shares of Axalta Coating Systems in the second quarter worth $60,000. Hedge funds and other institutional investors own 97.30% of the company’s stock.

About Axalta Coating Systems

Axalta Coating Systems Ltd. engages in the manufacture, marketing, and distribution of coatings systems. It operates through the Performance Coatings and Transportation Coatings business segments. The Performance Coatings segment provides liquid and powder coatings solutions to a fragmented and local customer base.

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