Axalta Coating Systems (NYSE:AXTA) Price Target Raised to $48.00

Axalta Coating Systems (NYSE:AXTA) had its price target boosted by BMO Capital Markets from $46.00 to $48.00 in a research report released on Wednesday,Benzinga reports. BMO Capital Markets currently has an outperform rating on the specialty chemicals company’s stock.

Several other equities research analysts also recently issued reports on the stock. Barclays lifted their price target on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Robert W. Baird boosted their price target on Axalta Coating Systems from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Mizuho increased their price target on Axalta Coating Systems from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. lifted their price objective on Axalta Coating Systems from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, Royal Bank of Canada increased their target price on Axalta Coating Systems from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Axalta Coating Systems currently has an average rating of “Buy” and an average price target of $42.45.

Axalta Coating Systems Price Performance

AXTA stock opened at $40.30 on Wednesday. The firm has a market cap of $8.79 billion, a P/E ratio of 27.23, a price-to-earnings-growth ratio of 0.87 and a beta of 1.43. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.42 and a current ratio of 2.00. Axalta Coating Systems has a 1 year low of $30.40 and a 1 year high of $40.91. The stock has a 50-day simple moving average of $36.68 and a 200-day simple moving average of $35.58.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings data on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.08. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.32 billion. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. Axalta Coating Systems’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the company earned $0.45 earnings per share. On average, equities analysts predict that Axalta Coating Systems will post 2.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Axalta Coating Systems

Large investors have recently added to or reduced their stakes in the company. Vestcor Inc bought a new stake in Axalta Coating Systems during the third quarter valued at $667,000. Barclays PLC grew its position in shares of Axalta Coating Systems by 50.4% during the 3rd quarter. Barclays PLC now owns 154,483 shares of the specialty chemicals company’s stock valued at $5,589,000 after buying an additional 51,748 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in Axalta Coating Systems by 2.6% during the third quarter. Public Employees Retirement System of Ohio now owns 86,171 shares of the specialty chemicals company’s stock worth $3,119,000 after acquiring an additional 2,198 shares during the period. MML Investors Services LLC lifted its holdings in Axalta Coating Systems by 8.7% in the third quarter. MML Investors Services LLC now owns 67,897 shares of the specialty chemicals company’s stock worth $2,457,000 after acquiring an additional 5,425 shares during the last quarter. Finally, XTX Topco Ltd lifted its holdings in Axalta Coating Systems by 326.3% in the third quarter. XTX Topco Ltd now owns 27,895 shares of the specialty chemicals company’s stock worth $1,010,000 after acquiring an additional 21,352 shares during the last quarter. 98.28% of the stock is currently owned by 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.