Axalta Coating Systems (NYSE:AXTA) Price Target Increased to $40.00 by Analysts at JPMorgan Chase & Co.

Axalta Coating Systems (NYSE:AXTA) had its target price boosted by JPMorgan Chase & Co. 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. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 13.64% from the company’s current price.

A number of other research analysts have also commented on the company. Wolfe Research began coverage on Axalta Coating Systems in a research note on Friday, March 1st. They issued a “peer perform” rating for the company. Citigroup increased their price objective on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Robert W. Baird lifted their target price on shares of Axalta Coating Systems from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday. Wells Fargo & Company increased 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 report on Tuesday, January 9th. Finally, KeyCorp raised their price target 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 investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

Axalta Coating Systems Stock Performance

NYSE AXTA traded up $0.37 during midday trading on Thursday, hitting $35.20. The company had a trading volume of 3,991,263 shares, compared to its average volume of 2,581,191. The firm has a fifty day simple moving average of $32.78 and a two-hundred day simple moving average of $31.82. Axalta Coating Systems has a fifty-two week low of $25.03 and a fifty-two week high of $35.31. The company has a quick ratio of 1.46, a current ratio of 2.07 and a debt-to-equity ratio of 1.92. The stock has a market cap of $7.77 billion, a price-to-earnings ratio of 31.72, a P/E/G ratio of 1.08 and a beta of 1.51.

Axalta Coating Systems (NYSE:AXTA) last released its earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.08. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. Axalta Coating Systems had a return on equity of 21.82% and a net margin of 4.77%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the business earned $0.35 earnings per share. Equities analysts forecast that Axalta Coating Systems will post 1.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Axalta Coating Systems

A number of hedge funds have recently added to or reduced their stakes in AXTA. Fifth Third Bancorp raised its position 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 purchasing an additional 338 shares during the last quarter. TFO Wealth Partners LLC increased its stake in shares of 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 during the period. Raleigh Capital Management Inc. bought a new stake in shares of Axalta Coating Systems during the fourth quarter worth $48,000. CWM LLC boosted its holdings in Axalta Coating Systems by 35.6% in the third quarter. CWM LLC now owns 2,474 shares of the specialty chemicals company’s stock valued at $67,000 after acquiring an additional 649 shares during the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in Axalta Coating Systems during the 4th quarter valued at about $88,000. 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.