Royal Bank of Canada Boosts Axalta Coating Systems (NYSE:AXTA) Price Target to $42.00

Axalta Coating Systems (NYSE:AXTA) had its target price hoisted by Royal Bank of Canada from $39.00 to $42.00 in a research report released on Friday, Benzinga reports. They currently have an outperform rating on the specialty chemicals company’s stock.

Several other research firms have also commented on AXTA. UBS Group lowered Axalta Coating Systems from a buy rating to a neutral rating and boosted their price target for the stock from $35.00 to $36.00 in a research report on Monday, January 8th. Mizuho decreased their price target on shares of Axalta Coating Systems from $40.00 to $38.00 and set a buy rating for the company in a research report on Thursday. BMO Capital Markets raised their price target on shares of Axalta Coating Systems from $42.00 to $45.00 and gave the company an outperform rating in a report on Thursday. Wells Fargo & Company boosted their price objective on shares of Axalta Coating Systems from $31.00 to $33.00 and gave the stock an equal weight rating in a research note on Tuesday, January 9th. Finally, Barclays raised their target price on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the company an overweight rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $38.00.

Axalta Coating Systems Stock Up 1.1 %

Shares of Axalta Coating Systems stock opened at $35.20 on Friday. Axalta Coating Systems has a 1 year low of $25.03 and a 1 year high of $35.31. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.07 and a quick ratio of 1.46. The stock has a market cap of $7.77 billion, a price-to-earnings ratio of 31.71, a PEG ratio of 1.09 and a beta of 1.51. The firm’s 50-day moving average is $32.84 and its two-hundred day moving average is $31.95.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings data on Wednesday, May 1st. The specialty chemicals company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.08. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. Axalta Coating Systems had a net margin of 4.77% and a return on equity of 21.82%. The company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the firm earned $0.35 earnings per share. As a group, research analysts expect that Axalta Coating Systems will post 1.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AXTA. Fifth Third Bancorp increased its holdings in Axalta Coating Systems by 47.7% in the 4th quarter. Fifth Third Bancorp now owns 1,046 shares of the specialty chemicals company’s stock worth $36,000 after buying an additional 338 shares during the period. Treasurer of the State of North Carolina lifted its stake in Axalta Coating Systems by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 97,171 shares of the specialty chemicals company’s stock valued at $2,614,000 after acquiring an additional 490 shares during the period. M&T Bank Corp boosted its holdings in shares of Axalta Coating Systems by 6.5% in the 4th quarter. M&T Bank Corp now owns 9,161 shares of the specialty chemicals company’s stock valued at $311,000 after acquiring an additional 556 shares during the last quarter. CWM LLC increased its stake in shares of Axalta Coating Systems by 23.2% in the fourth quarter. CWM LLC now owns 3,049 shares of the specialty chemicals company’s stock worth $104,000 after acquiring an additional 575 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Axalta Coating Systems by 1.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 56,174 shares of the specialty chemicals company’s stock worth $1,908,000 after purchasing an additional 576 shares during the last quarter. 98.28% of the stock is currently owned by hedge funds and other 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.