Axalta Coating Systems (NYSE:AXTA) Downgraded to Neutral Rating by Citigroup

Axalta Coating Systems (NYSE:AXTA - Get Free Report) was downgraded by analysts at Citigroup from a "buy" rating to a "neutral" rating in a report issued on Wednesday,Briefing.com Automated Import reports. They currently have a $41.00 price target on the specialty chemicals company's stock, down from their previous price target of $45.00. Citigroup's target price points to a potential upside of 12.67% from the stock's current price.

Other equities analysts also recently issued research reports about the stock. BMO Capital Markets boosted their target price on shares of Axalta Coating Systems from $46.00 to $48.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Evercore ISI initiated coverage on Axalta Coating Systems in a report on Wednesday, November 13th. They issued an "outperform" rating and a $47.00 price objective on the stock. Mizuho boosted their target price on Axalta Coating Systems from $42.00 to $43.00 and gave the stock an "outperform" rating in a research note on Thursday, October 31st. Royal Bank of Canada increased their price target on shares of Axalta Coating Systems from $44.00 to $46.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Finally, KeyCorp reissued a "sector weight" rating on shares of Axalta Coating Systems in a report on Tuesday. Four analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $42.55.

Axalta Coating Systems Stock Down 3.5 %

NYSE:AXTA opened at $36.39 on Wednesday. Axalta Coating Systems has a 52 week low of $30.40 and a 52 week high of $41.65. The company has a quick ratio of 1.42, a current ratio of 2.00 and a debt-to-equity ratio of 1.80. The stock's fifty day moving average is $38.50 and its two-hundred day moving average is $36.33. The stock has a market capitalization of $7.94 billion, a price-to-earnings ratio of 24.59, a price-to-earnings-growth ratio of 0.83 and a beta of 1.44.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.08. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. The firm had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.32 billion. During the same quarter in the previous year, the business posted $0.45 earnings per share. The business's quarterly revenue was up .8% compared to the same quarter last year. Research analysts anticipate that Axalta Coating Systems will post 2.16 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AXTA. First Horizon Advisors Inc. raised its position in shares of Axalta Coating Systems by 35.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company's stock worth $37,000 after purchasing an additional 266 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Axalta Coating Systems by 14.1% during the third quarter. Signaturefd LLC now owns 3,599 shares of the specialty chemicals company's stock valued at $130,000 after acquiring an additional 444 shares during the last quarter. Venturi Wealth Management LLC raised its stake in Axalta Coating Systems by 30.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,964 shares of the specialty chemicals company's stock valued at $71,000 after purchasing an additional 455 shares during the last quarter. Verdence Capital Advisors LLC lifted its holdings in Axalta Coating Systems by 4.4% in the 3rd quarter. Verdence Capital Advisors LLC now owns 11,162 shares of the specialty chemicals company's stock valued at $404,000 after purchasing an additional 473 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of Axalta Coating Systems by 13.9% during the 3rd quarter. KBC Group NV now owns 5,859 shares of the specialty chemicals company's stock worth $212,000 after purchasing an additional 716 shares during the last quarter. 98.28% of the stock is currently 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.

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