Axalta Coating Systems (NYSE:AXTA) Hits New 12-Month High Following Strong Earnings

Axalta Coating Systems Ltd. (NYSE:AXTA)’s share price reached a new 52-week high during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $37.41 and last traded at $36.36, with a volume of 328194 shares traded. The stock had previously closed at $35.65.

The specialty chemicals company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.06. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Axalta Coating Systems had a return on equity of 24.28% and a net margin of 5.69%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.35 EPS.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Robert W. Baird boosted their target price on Axalta Coating Systems from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday. Mizuho boosted their target price on Axalta Coating Systems from $38.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. BMO Capital Markets boosted their target price on Axalta Coating Systems from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. UBS Group decreased their price target on Axalta Coating Systems from $39.00 to $38.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Finally, Citigroup boosted their price target on Axalta Coating Systems from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.91.

Institutional Investors Weigh In On Axalta Coating Systems

Institutional investors and hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp lifted its stake in shares of Axalta Coating Systems by 47.7% during the 4th quarter. Fifth Third Bancorp now owns 1,046 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 338 shares during the period. TFO Wealth Partners LLC increased its holdings in shares of Axalta Coating Systems by 12,022.2% during the 4th quarter. TFO Wealth Partners LLC now owns 1,091 shares of the specialty chemicals company’s stock worth $37,000 after buying an additional 1,082 shares during the last quarter. Raleigh Capital Management Inc. acquired a new stake in shares of Axalta Coating Systems during the 4th quarter worth $48,000. GAMMA Investing LLC increased its holdings in shares of Axalta Coating Systems by 111.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,417 shares of the specialty chemicals company’s stock worth $48,000 after buying an additional 747 shares during the last quarter. Finally, Versant Capital Management Inc acquired a new stake in shares of Axalta Coating Systems during the 2nd quarter worth $71,000. Hedge funds and other institutional investors own 98.28% of the company’s stock.

Axalta Coating Systems Trading Down 3.9 %

The firm has a market capitalization of $7.77 billion, a price-to-earnings ratio of 31.72, a P/E/G ratio of 0.91 and a beta of 1.44. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.51 and a current ratio of 2.26. The business has a fifty day moving average price of $35.02 and a 200 day moving average price of $33.74.

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.