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

Axalta Coating Systems (NYSE:AXTA) had its price target hoisted by analysts at Royal Bank of Canada from $39.00 to $42.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the specialty chemicals company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 19.28% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. BMO Capital Markets lifted their target price on shares of Axalta Coating Systems from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday. Citigroup upped their target price on Axalta Coating Systems from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Wells Fargo & Company upped their price target 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. Robert W. Baird raised their price target on shares of Axalta Coating Systems from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Barclays raised their target price on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday. One research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Axalta Coating Systems Stock Up 1.1 %

Shares of AXTA traded up $0.38 during trading hours on Friday, reaching $35.21. The stock had a trading volume of 3,991,263 shares, compared to its average volume of 2,144,088. Axalta Coating Systems has a 12 month low of $25.03 and a 12 month high of $35.31. The company has a market capitalization of $7.77 billion, a price-to-earnings ratio of 31.71, a P/E/G ratio of 1.10 and a beta of 1.51. The firm has a 50-day simple moving average of $32.78 and a 200 day simple moving average of $31.82. 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 (NYSE:AXTA) last posted its earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.08. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. Axalta Coating Systems had a net margin of 4.77% and a return on equity of 21.82%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.35 EPS. Equities research analysts predict that Axalta Coating Systems will post 1.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp increased its stake in shares of 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 valued at $36,000 after purchasing an additional 338 shares in the last quarter. TFO Wealth Partners LLC lifted its stake in Axalta Coating Systems by 12,022.2% in the 4th quarter. TFO Wealth Partners LLC now owns 1,091 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 1,082 shares in the last quarter. Raleigh Capital Management Inc. acquired a new stake in Axalta Coating Systems in the 4th quarter worth about $48,000. Kapitalo Investimentos Ltda purchased a new stake in Axalta Coating Systems during the 4th quarter worth approximately $88,000. Finally, CWM LLC lifted its position 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 valued at $104,000 after acquiring an additional 575 shares in the last quarter. Hedge funds and other 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.