Axalta Coating Systems (NYSE:AXTA) Issues Earnings Results

Axalta Coating Systems (NYSE:AXTA) issued its quarterly earnings results on Thursday. The specialty chemicals company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.51 by $0.06, Briefing.com reports. Axalta Coating Systems had a net margin of 4.77% and a return on equity of 21.82%. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the company earned $0.35 EPS. Axalta Coating Systems’s revenue was up 4.4% on a year-over-year basis.

Axalta Coating Systems Price Performance

Shares of AXTA traded down $1.43 during midday trading on Friday, hitting $35.21. The company’s stock had a trading volume of 2,428,282 shares, compared to its average volume of 2,075,656. The company’s fifty day simple moving average is $35.02 and its two-hundred day simple moving average is $33.73. The stock has a market capitalization of $7.77 billion, a price-to-earnings ratio of 31.80, a price-to-earnings-growth ratio of 0.92 and a beta of 1.44. Axalta Coating Systems has a one year low of $25.03 and a one year high of $37.49. The company has a quick ratio of 1.51, a current ratio of 2.07 and a debt-to-equity ratio of 1.92.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. KeyCorp boosted their price objective on shares of Axalta Coating Systems from $40.00 to $44.00 and gave the company an “overweight” rating in a report on Friday. UBS Group dropped their price target on Axalta Coating Systems from $39.00 to $38.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Royal Bank of Canada boosted their price objective on Axalta Coating Systems from $39.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Robert W. Baird boosted their price objective on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Mizuho increased their target price on Axalta Coating Systems from $38.00 to $41.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.17.

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.