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

Axalta Coating Systems (NYSE:AXTA) had its target price hoisted by research analysts at Barclays from $38.00 to $40.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the specialty chemicals company’s stock. Barclays‘s price target suggests a potential upside of 13.99% from the stock’s current price.

AXTA has been the topic of several other reports. Wells Fargo & Company upped their price objective on shares of Axalta Coating Systems from $31.00 to $33.00 and gave the company an “equal weight” rating in a report on Tuesday, January 9th. Citigroup upped their price objective on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. 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 report on Thursday. Mizuho lowered their price target on shares of Axalta Coating Systems from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Wolfe Research started coverage on shares of Axalta Coating Systems in a report on Friday, March 1st. They set a “peer perform” rating on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $37.23.

Axalta Coating Systems Stock Performance

Axalta Coating Systems stock traded up $0.88 during mid-day trading on Thursday, reaching $35.09. 812,218 shares of the company traded hands, compared to its average volume of 2,072,673. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.98 and a quick ratio of 1.46. Axalta Coating Systems has a fifty-two week low of $25.03 and a fifty-two week high of $35.15. The company has a market capitalization of $7.74 billion, a price-to-earnings ratio of 29.16, a price-to-earnings-growth ratio of 1.02 and a beta of 1.51. The firm’s fifty day moving average is $32.72 and its two-hundred day moving average is $31.80.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings results 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. Axalta Coating Systems had a net margin of 5.16% and a return on equity of 20.70%. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the business posted $0.35 EPS. Axalta Coating Systems’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, equities research analysts expect that Axalta Coating Systems will post 1.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Axalta Coating Systems

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

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.