Axalta Coating Systems (AXTA) PT Lowered to $28.00
Axalta Coating Systems (NYSE:AXTA) had its target price cut by research analysts at Citigroup from $33.00 to $28.00 in a research note issued on Thursday, Stock Target Advisor reports. The brokerage currently has a “neutral” rating on the specialty chemicals company’s stock. Citigroup’s price target would suggest a potential upside of 9.50% from the company’s previous close.
AXTA has been the topic of a number of other reports. Zacks Investment Research raised Axalta Coating Systems from a “sell” rating to a “hold” rating in a research report on Monday, July 30th. JPMorgan Chase & Co. raised Axalta Coating Systems from a “neutral” rating to an “overweight” rating and set a $33.00 price objective on the stock in a research report on Friday, July 27th. Barclays reaffirmed a “hold” rating and set a $32.00 price objective on shares of Axalta Coating Systems in a research report on Tuesday, July 31st. Nomura lowered their price objective on Axalta Coating Systems from $35.00 to $34.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 11th. Finally, KeyCorp decreased their target price on Axalta Coating Systems from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Friday, July 27th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $33.31.
AXTA stock opened at $25.57 on Thursday. Axalta Coating Systems has a twelve month low of $25.27 and a twelve month high of $38.20. The company has a debt-to-equity ratio of 2.73, a quick ratio of 1.67 and a current ratio of 2.27. The stock has a market cap of $7.02 billion, a PE ratio of 21.44, a P/E/G ratio of 1.58 and a beta of 1.26.
In other Axalta Coating Systems news, Director Robert M. Mclaughlin sold 4,920 shares of Axalta Coating Systems stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $30.33, for a total value of $149,223.60. Following the sale, the director now owns 39,442 shares of the company’s stock, valued at approximately $1,196,275.86. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Joseph F. Mcdougall sold 34,281 shares of Axalta Coating Systems stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $29.87, for a total value of $1,023,973.47. Following the completion of the sale, the executive vice president now directly owns 73,767 shares in the company, valued at approximately $2,203,420.29. The disclosure for this sale can be found here. Insiders have sold a total of 345,391 shares of company stock worth $10,268,682 in the last three months. 2.10% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in AXTA. Moneta Group Investment Advisors LLC increased its stake in Axalta Coating Systems by 113.6% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 3,983 shares of the specialty chemicals company’s stock worth $121,000 after acquiring an additional 2,118 shares during the last quarter. First Quadrant L P CA bought a new stake in Axalta Coating Systems in the 2nd quarter worth approximately $124,000. Chicago Partners Investment Group LLC increased its stake in Axalta Coating Systems by 78.1% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 4,106 shares of the specialty chemicals company’s stock worth $124,000 after acquiring an additional 1,800 shares during the last quarter. Point72 Asia Hong Kong Ltd increased its stake in Axalta Coating Systems by 17,167.9% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 4,835 shares of the specialty chemicals company’s stock worth $146,000 after acquiring an additional 4,807 shares during the last quarter. Finally, Cerebellum GP LLC bought a new stake in Axalta Coating Systems in the 2nd quarter worth approximately $176,000.
About Axalta Coating Systems
Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings primarily for the transportation industry. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers various specially-formulated water and solvent borne products and systems that are used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.
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