Axalta Coating Systems Ltd. (NYSE:AXTA – Free Report) – Equities researchers at Seaport Res Ptn cut their FY2024 EPS estimates for Axalta Coating Systems in a report released on Wednesday, January 22nd. Seaport Res Ptn analyst M. Harrison now anticipates that the specialty chemicals company will post earnings of $2.15 per share for the year, down from their prior estimate of $2.16. The consensus estimate for Axalta Coating Systems’ current full-year earnings is $2.15 per share. Seaport Res Ptn also issued estimates for Axalta Coating Systems’ Q4 2024 earnings at $0.51 EPS, Q1 2025 earnings at $0.48 EPS, Q2 2025 earnings at $0.63 EPS, Q3 2025 earnings at $0.63 EPS, Q4 2025 earnings at $0.60 EPS and FY2025 earnings at $2.34 EPS.
AXTA has been the subject of several other research reports. Barclays lifted their price target on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft decreased their price objective on Axalta Coating Systems from $44.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Royal Bank of Canada raised their target price on Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Citigroup cut Axalta Coating Systems from a “buy” rating to a “neutral” rating and lowered their price target for the company from $45.00 to $41.00 in a research note on Wednesday, December 18th. Finally, Wolfe Research raised shares of Axalta Coating Systems from a “peer perform” rating to an “outperform” rating and set a $41.00 price target on the stock in a research report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Axalta Coating Systems currently has a consensus rating of “Moderate Buy” and an average target price of $43.00.
Axalta Coating Systems Trading Down 0.4 %
Shares of AXTA opened at $36.73 on Friday. The company has a quick ratio of 1.42, a current ratio of 2.00 and a debt-to-equity ratio of 1.80. Axalta Coating Systems has a 12-month low of $30.40 and a 12-month high of $41.65. The firm has a market capitalization of $8.01 billion, a PE ratio of 24.81, a price-to-earnings-growth ratio of 0.74 and a beta of 1.46. The stock’s fifty day simple moving average is $36.97 and its 200-day simple moving average is $36.31.
Axalta Coating Systems (NYSE:AXTA – Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.08. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.32 billion. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 EPS.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the company. XTX Topco Ltd acquired a new stake in shares of Axalta Coating Systems in the second quarter valued at about $224,000. Sei Investments Co. raised its stake in shares of Axalta Coating Systems by 7.8% during the 2nd quarter. Sei Investments Co. now owns 386,607 shares of the specialty chemicals company’s stock worth $13,210,000 after purchasing an additional 27,942 shares in the last quarter. Magnetar Financial LLC acquired a new stake in shares of Axalta Coating Systems in the 2nd quarter valued at approximately $228,000. Bank of Montreal Can lifted its stake in Axalta Coating Systems by 635.1% in the second quarter. Bank of Montreal Can now owns 392,877 shares of the specialty chemicals company’s stock valued at $13,448,000 after acquiring an additional 339,434 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new position in Axalta Coating Systems during the second quarter worth about $936,000. 98.28% of the stock is currently owned by institutional investors.
About Axalta Coating Systems
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.
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