Axalta Coating Systems (NYSE:AXTA) Price Target Lowered to $32.00 at Citigroup

Axalta Coating Systems (NYSE:AXTA - Get Free Report) had its price target cut by equities research analysts at Citigroup from $42.00 to $32.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the specialty chemicals company's stock. Citigroup's target price suggests a potential upside of 4.45% from the company's current price.

Several other research analysts have also recently weighed in on AXTA. StockNews.com cut shares of Axalta Coating Systems from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 28th. Wolfe Research raised shares of Axalta Coating Systems from a "peer perform" rating to an "outperform" rating and set a $41.00 price target for the company in a research note on Friday, January 17th. Wells Fargo & Company reduced their price target on shares of Axalta Coating Systems from $45.00 to $42.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 3rd. KeyCorp reiterated a "sector weight" rating on shares of Axalta Coating Systems in a research report on Tuesday, December 17th. Finally, Mizuho reduced their target price on Axalta Coating Systems from $43.00 to $41.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Axalta Coating Systems presently has a consensus rating of "Moderate Buy" and an average target price of $41.64.

Axalta Coating Systems Price Performance

NYSE AXTA traded up $0.42 during trading hours on Tuesday, hitting $30.64. 2,138,515 shares of the company's stock traded hands, compared to its average volume of 2,046,638. The company has a market capitalization of $6.68 billion, a PE ratio of 17.21, a PEG ratio of 0.92 and a beta of 1.33. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.01 and a quick ratio of 1.47. Axalta Coating Systems has a 52-week low of $27.70 and a 52-week high of $41.66. The firm's 50-day moving average is $34.48 and its 200-day moving average is $36.17.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) 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 analysts' expectations of $1.31 billion. During the same period in the previous year, the firm posted $0.43 EPS. The business's revenue for the quarter was up 1.1% compared to the same quarter last year. Equities analysts forecast that Axalta Coating Systems will post 2.55 EPS for the current fiscal year.

Insider Activity

In other news, insider Troy D. Weaver sold 10,457 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.40% of the company's stock.

Institutional Investors Weigh In On Axalta Coating Systems

Hedge funds have recently bought and sold shares of the stock. MRA Advisory Group purchased a new stake in shares of Axalta Coating Systems during the first quarter worth approximately $394,000. Financial Management Professionals Inc. grew its holdings in Axalta Coating Systems by 11,757.1% during the 1st quarter. Financial Management Professionals Inc. now owns 830 shares of the specialty chemicals company's stock worth $28,000 after acquiring an additional 823 shares in the last quarter. Trinity Street Asset Management LLP purchased a new stake in shares of Axalta Coating Systems in the 1st quarter valued at approximately $16,348,000. GAMMA Investing LLC raised its holdings in shares of Axalta Coating Systems by 3,005.3% in the 1st 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. Finally, Versant Capital Management Inc raised its holdings in shares of Axalta Coating Systems by 263.3% in the 1st quarter. Versant Capital Management Inc now owns 8,112 shares of the specialty chemicals company's stock valued at $269,000 after purchasing an additional 5,879 shares in the last quarter. Institutional investors and hedge funds own 98.28% of the company's stock.

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.