Axalta Coating Systems (NYSE:AXTA) announced its quarterly earnings results on Wednesday. The specialty chemicals company reported ($0.15) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.02), MarketWatch Earnings reports. Axalta Coating Systems had a return on equity of 19.38% and a net margin of 1.99%. The business had revenue of $652.70 million for the quarter, compared to analyst estimates of $625.17 million. During the same quarter last year, the firm posted $0.52 EPS. The company’s revenue was down 43.6% compared to the same quarter last year. Axalta Coating Systems updated its Q3 2020
Pre-Market guidance to EPS.
AXTA stock traded down $0.02 during midday trading on Friday, reaching $22.20. The company had a trading volume of 2,471,769 shares, compared to its average volume of 1,808,764. The company has a 50 day moving average of $22.50 and a two-hundred day moving average of $22.76. The company has a market capitalization of $5.22 billion, a P/E ratio of 20.20, a PEG ratio of 17.37 and a beta of 1.60. Axalta Coating Systems has a 1 year low of $12.92 and a 1 year high of $32.20. The company has a current ratio of 2.88, a quick ratio of 1.58 and a debt-to-equity ratio of 3.16.
A number of equities analysts recently issued reports on the stock. KeyCorp increased their target price on shares of Axalta Coating Systems from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. JPMorgan Chase & Co. boosted their target price on shares of Axalta Coating Systems from $22.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, May 29th. They noted that the move was a valuation call. Citigroup cut their price objective on Axalta Coating Systems from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday. Goldman Sachs Group upgraded Axalta Coating Systems from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $19.00 to $25.00 in a report on Tuesday, May 12th. Finally, Zacks Investment Research upgraded Axalta Coating Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, July 15th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $25.64.
Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings systems. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers 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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