Axalta Coating Systems (NYSE:AXTA) Given New $44.00 Price Target at Royal Bank of Canada

Axalta Coating Systems (NYSE:AXTA) had its price objective upped by Royal Bank of Canada from $42.00 to $44.00 in a report published on Monday morning, Benzinga reports. They currently have an outperform rating on the specialty chemicals company’s stock.

Other equities analysts have also issued reports about the company. Wells Fargo & Company raised Axalta Coating Systems from a hold rating to a strong-buy rating in a report on Tuesday, June 11th. Robert W. Baird upped their target price on Axalta Coating Systems from $40.00 to $42.00 and gave the company an outperform rating in a report on Friday. Mizuho upped their target price on Axalta Coating Systems from $38.00 to $41.00 and gave the company a buy rating in a report on Tuesday, May 21st. JPMorgan Chase & Co. upped their target price on Axalta Coating Systems from $40.00 to $41.00 and gave the company an overweight rating in a report on Monday. Finally, Barclays upped their target price on Axalta Coating Systems from $40.00 to $42.00 and gave the company an overweight rating in a report on Friday. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $41.00.

Axalta Coating Systems Stock Down 0.1 %

NYSE AXTA traded down $0.03 on Monday, hitting $34.04. 2,131,303 shares of the stock traded hands, compared to its average volume of 2,079,488. The stock has a 50-day moving average of $35.00 and a 200 day moving average of $33.77. Axalta Coating Systems has a twelve month low of $25.03 and a twelve month high of $37.49. The company has a market capitalization of $7.51 billion, a P/E ratio of 31.21, a price-to-earnings-growth ratio of 0.91 and a beta of 1.44. The company has a current ratio of 2.26, a quick ratio of 1.51 and a debt-to-equity ratio of 1.97.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings data on Thursday, August 1st. The specialty chemicals company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.06. Axalta Coating Systems had a return on equity of 24.28% and a net margin of 5.69%. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the prior year, the firm posted $0.35 earnings per share. Axalta Coating Systems’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, analysts expect that Axalta Coating Systems will post 2.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Axalta Coating Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fifth Third Bancorp grew 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 in the last quarter. TFO Wealth Partners LLC boosted its stake in Axalta Coating Systems by 12,022.2% during the 4th quarter. TFO Wealth Partners LLC now owns 1,091 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 1,082 shares in the last quarter. Raleigh Capital Management Inc. bought a new position in Axalta Coating Systems during the 4th quarter valued at $48,000. GAMMA Investing LLC boosted its stake in Axalta Coating Systems by 111.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,417 shares of the specialty chemicals company’s stock valued at $48,000 after purchasing an additional 747 shares in the last quarter. Finally, Versant Capital Management Inc bought a new position in Axalta Coating Systems during the 2nd quarter valued at $71,000. 98.28% of the stock is owned by institutional investors.

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.