Axalta Coating Systems (NYSE:AXTA) Price Target Raised to $42.00

Axalta Coating Systems (NYSE:AXTA) had its price target raised by Royal Bank of Canada from $39.00 to $42.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an outperform rating on the specialty chemicals company’s stock.

A number of other research firms have also recently commented on AXTA. KeyCorp raised their target price on Axalta Coating Systems from $38.00 to $40.00 and gave the company an overweight rating in a research note on Thursday. JPMorgan Chase & Co. raised their price objective on Axalta Coating Systems from $38.00 to $40.00 and gave the company an overweight rating in a research report on Thursday. Wolfe Research started coverage on shares of Axalta Coating Systems in a research report on Friday, March 1st. They issued a peer perform rating on the stock. Robert W. Baird increased their price target on shares of Axalta Coating Systems from $35.00 to $40.00 and gave the stock an outperform rating in a research note on Thursday. Finally, Citigroup boosted their price objective on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the stock a buy rating in a research note 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 company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $38.00.

Axalta Coating Systems Stock Up 1.1 %

Shares of Axalta Coating Systems stock opened at $35.20 on Friday. 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 12-month low of $25.03 and a 12-month high of $35.31. The company has a market cap of $7.77 billion, a P/E ratio of 31.71, a PEG ratio of 1.09 and a beta of 1.51. The company’s fifty day simple moving average is $32.84 and its two-hundred day simple moving average is $31.95.

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

Institutional Trading of Axalta Coating Systems

Institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP boosted its position in shares of Axalta Coating Systems by 9.0% during the third quarter. Wellington Management Group LLP now owns 4,657,696 shares of the specialty chemicals company’s stock valued at $125,292,000 after buying an additional 382,949 shares during the last quarter. Hawk Ridge Capital Management LP raised its position in Axalta Coating Systems by 49.3% in the 3rd quarter. Hawk Ridge Capital Management LP now owns 2,952,198 shares of the specialty chemicals company’s stock worth $79,414,000 after buying an additional 974,973 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Axalta Coating Systems by 11.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 13,470,860 shares of the specialty chemicals company’s stock valued at $362,366,000 after acquiring an additional 1,415,723 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Axalta Coating Systems by 11.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,644,246 shares of the specialty chemicals company’s stock valued at $71,130,000 after acquiring an additional 272,455 shares during the last quarter. Finally, Prospector Partners LLC grew its stake in shares of Axalta Coating Systems by 10.2% in the third quarter. Prospector Partners LLC now owns 323,930 shares of the specialty chemicals company’s stock worth $8,714,000 after acquiring an additional 29,930 shares during the period. Institutional investors own 98.28% of the company’s stock.

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.