KeyCorp Reiterates “Sector Weight” Rating for Axalta Coating Systems (NYSE:AXTA)

Axalta Coating Systems (NYSE:AXTA)‘s stock had its “sector weight” rating reissued by analysts at KeyCorp in a note issued to investors on Tuesday, MarketBeat Ratings reports.

Other research analysts have also issued research reports about the stock. Mizuho increased their target price on shares of Axalta Coating Systems from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Evercore ISI started coverage on shares of Axalta Coating Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $47.00 price objective for the company. BMO Capital Markets boosted their target price on Axalta Coating Systems from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Barclays raised their price target on Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada boosted their price objective on Axalta Coating Systems from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.55.

Axalta Coating Systems Stock Down 3.8 %

AXTA stock opened at $35.01 on Tuesday. Axalta Coating Systems has a one year low of $30.40 and a one year high of $41.65. The firm has a market cap of $7.63 billion, a PE ratio of 23.66, a PEG ratio of 0.83 and a beta of 1.44. The firm’s 50 day moving average price is $38.46 and its 200-day moving average price is $36.32. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.42 and a current ratio of 2.00.

Axalta Coating Systems (NYSE:AXTA) last posted its earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.32 billion. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.45 earnings per share. On average, equities research analysts anticipate that Axalta Coating Systems will post 2.16 EPS for the current year.

Hedge Funds Weigh In On Axalta Coating Systems

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC increased its stake in shares of 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 worth $93,411,000 after buying an additional 1,292,434 shares during the period. Interval Partners LP increased its position in shares of Axalta Coating Systems by 716.6% in the 2nd quarter. Interval Partners LP now owns 1,224,961 shares of the specialty chemicals company’s stock valued at $41,857,000 after purchasing an additional 1,074,961 shares during the last quarter. PointState Capital LP purchased a new stake in shares of Axalta Coating Systems during the 3rd quarter worth $30,257,000. Victory Capital Management Inc. grew its stake in shares of Axalta Coating Systems by 5.6% during 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 purchasing an additional 550,970 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Axalta Coating Systems by 59.7% in the second quarter. Renaissance Technologies LLC now owns 1,329,700 shares of the specialty chemicals company’s stock valued at $45,436,000 after buying an additional 497,000 shares during the last quarter. Hedge funds and other institutional investors own 98.28% of the company’s stock.

Axalta Coating Systems Company Profile

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.