Zacks Investment Research upgraded shares of Axalta Coating Systems (NYSE:AXTA) from a hold rating to a buy rating in a report released on Tuesday, Zacks.com reports. Zacks Investment Research currently has $35.00 price target on the specialty chemicals company’s stock.

According to Zacks, “Axalta Coating Systems Ltd. is a global coatings company engaged in the manufacturing, marketing and distribution of coatings systems. The company offers waterborne and solvent borne coatings; liquid and powder coatings; and liquid coatings. It provides a range of performance and transportation coatings for manufacturers of light and commercial vehicles, the refinish aftermarket and for many industrial applications. The Company’s products and services include paint, color matching tools, application technologies and customer training, support and business management systems. Axalta Coating Systems Ltd. is headquartered in Philadelphia, Pennsylvania. “

Several other analysts also recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Axalta Coating Systems from $29.00 to $33.00 and gave the company an equal weight rating in a report on Thursday, February 25th. Credit Suisse Group reaffirmed an outperform rating and issued a $35.00 target price on shares of Axalta Coating Systems in a report on Monday, March 22nd. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Buy and an average target price of $29.73.

Shares of Axalta Coating Systems stock opened at $31.38 on Tuesday. Axalta Coating Systems has a 1 year low of $16.38 and a 1 year high of $31.80. The company has a debt-to-equity ratio of 2.90, a quick ratio of 2.17 and a current ratio of 2.68. The company has a market capitalization of $7.31 billion, a P/E ratio of 78.45, a PEG ratio of 6.12 and a beta of 1.47. The company’s fifty day moving average is $29.69 and its two-hundred day moving average is $28.20.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings data on Tuesday, February 16th. The specialty chemicals company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.15. Axalta Coating Systems had a net margin of 2.49% and a return on equity of 20.51%. The company had revenue of $1.07 billion for the quarter. As a group, equities analysts expect that Axalta Coating Systems will post 1.19 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the stock. DnB Asset Management AS boosted its holdings in Axalta Coating Systems by 14.9% during the first quarter. DnB Asset Management AS now owns 41,963 shares of the specialty chemicals company’s stock worth $1,241,000 after buying an additional 5,436 shares in the last quarter. Hohimer Wealth Management LLC boosted its holdings in Axalta Coating Systems by 39.9% during the first quarter. Hohimer Wealth Management LLC now owns 49,182 shares of the specialty chemicals company’s stock worth $1,455,000 after buying an additional 14,031 shares in the last quarter. Confluence Investment Management LLC raised its position in Axalta Coating Systems by 6.4% during the first quarter. Confluence Investment Management LLC now owns 1,427,858 shares of the specialty chemicals company’s stock worth $42,236,000 after acquiring an additional 85,614 shares during the last quarter. Koshinski Asset Management Inc. acquired a new position in Axalta Coating Systems during the fourth quarter worth about $705,000. Finally, DekaBank Deutsche Girozentrale raised its position in Axalta Coating Systems by 0.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 305,155 shares of the specialty chemicals company’s stock worth $8,559,000 after acquiring an additional 1,112 shares during the last quarter. 91.56% of the stock is currently owned by hedge funds and other institutional investors.

About Axalta Coating Systems

Axalta Coating Systems Ltd. engages in the manufacture, marketing, and distribution of coatings systems. It operates through the Performance Coatings and Transportation Coatings business segments. The Performance Coatings segment provides liquid and powder coatings solutions to a fragmented and local customer base.

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