Axalta Coating Systems (NYSE:AXTA) Price Target Raised to $40.00

Axalta Coating Systems (NYSE:AXTA) had its price target lifted by Robert W. Baird from $35.00 to $40.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the specialty chemicals company’s stock.

A number of other analysts also recently issued reports on AXTA. UBS Group downgraded shares of Axalta Coating Systems from a buy rating to a neutral rating and lifted their price objective for the company from $35.00 to $36.00 in a report on Monday, January 8th. Wells Fargo & Company lifted their price target on shares of Axalta Coating Systems from $31.00 to $33.00 and gave the company an equal weight rating in a research note on Tuesday, January 9th. Wolfe Research began coverage on Axalta Coating Systems in a report on Friday, March 1st. They issued a peer perform rating for the company. Mizuho lowered their target price on Axalta Coating Systems from $40.00 to $38.00 and set a buy rating on the stock in a research report on Thursday. Finally, Citigroup increased their price target on Axalta Coating Systems from $38.00 to $40.00 and gave the company a buy rating in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $38.00.

Axalta Coating Systems Price Performance

Shares of NYSE AXTA opened at $35.20 on Thursday. The company has a fifty day moving average price of $32.84 and a 200 day moving average price of $31.95. The firm has a market cap of $7.77 billion, a PE ratio of 31.71, a PEG ratio of 1.09 and a beta of 1.51. The company has a current ratio of 2.07, a quick ratio of 1.46 and a debt-to-equity ratio of 1.92. Axalta Coating Systems has a 1-year low of $25.03 and a 1-year high of $35.31.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings data on Wednesday, May 1st. The specialty chemicals company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.08. Axalta Coating Systems had a return on equity of 21.82% and a net margin of 4.77%. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the prior year, the firm earned $0.35 earnings per share. Axalta Coating Systems’s revenue for the quarter was up 1.3% compared to the same quarter last year. Research analysts predict that Axalta Coating Systems will post 1.99 earnings per share for the current fiscal year.

Institutional Trading of Axalta Coating Systems

Hedge funds have recently made changes to their positions in the business. Fifth Third Bancorp increased its holdings in shares of Axalta Coating Systems by 47.7% during the 4th quarter. Fifth Third Bancorp now owns 1,046 shares of the specialty chemicals company’s stock worth $36,000 after acquiring an additional 338 shares during the last quarter. TFO Wealth Partners LLC boosted its position in Axalta Coating Systems by 12,022.2% during the fourth quarter. TFO Wealth Partners LLC now owns 1,091 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 1,082 shares during the period. Raleigh Capital Management Inc. acquired a new position in shares of Axalta Coating Systems in the fourth quarter valued at $48,000. CWM LLC raised its position in shares of Axalta Coating Systems by 35.6% in the third quarter. CWM LLC now owns 2,474 shares of the specialty chemicals company’s stock valued at $67,000 after purchasing an additional 649 shares during the period. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Axalta Coating Systems during the 4th quarter worth about $88,000. 98.28% of the stock is owned by institutional investors and hedge funds.

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.