Axalta Coating Systems (NYSE:AXTA) PT Raised to $40.00

Axalta Coating Systems (NYSE:AXTA) had its price objective raised by analysts at Robert W. Baird from $35.00 to $40.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the specialty chemicals company’s stock. Robert W. Baird’s price objective would indicate a potential upside of 13.64% from the company’s previous close.

AXTA has been the topic of several other reports. Mizuho cut their price objective 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. JPMorgan Chase & Co. boosted their price target on Axalta Coating Systems from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. UBS Group lowered shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $35.00 to $36.00 in a research report on Monday, January 8th. Citigroup lifted their target price 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. Finally, Wolfe Research started coverage on Axalta Coating Systems in a report on Friday, March 1st. They issued a “peer perform” rating for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Axalta Coating Systems Price Performance

NYSE:AXTA traded up $0.37 during trading hours on Thursday, hitting $35.20. The company’s stock had a trading volume of 3,991,263 shares, compared to its average volume of 2,581,191. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.46 and a current ratio of 2.07. Axalta Coating Systems has a 52-week low of $25.03 and a 52-week high of $35.31. The business’s 50-day moving average is $32.78 and its two-hundred day moving average is $31.82. The company has a market capitalization of $7.77 billion, a PE ratio of 31.72, a PEG ratio of 1.08 and a beta of 1.51.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings data 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. Axalta Coating Systems had a net margin of 4.77% and a return on equity of 21.82%. The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period last year, the company posted $0.35 EPS. The company’s revenue was up 1.3% on a year-over-year basis. As a group, research analysts anticipate that Axalta Coating Systems will post 1.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Axalta Coating Systems

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Axalta Coating Systems by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 23,208,795 shares of the specialty chemicals company’s stock valued at $788,403,000 after purchasing an additional 322,393 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Axalta Coating Systems by 11.7% during the third quarter. JPMorgan Chase & Co. now owns 13,470,860 shares of the specialty chemicals company’s stock valued at $362,366,000 after buying an additional 1,415,723 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Axalta Coating Systems by 1,856.6% during the fourth quarter. Victory Capital Management Inc. now owns 5,866,601 shares of the specialty chemicals company’s stock worth $199,288,000 after acquiring an additional 5,566,757 shares during the period. Wellington Management Group LLP raised its position in Axalta Coating Systems by 9.0% in the third quarter. Wellington Management Group LLP now owns 4,657,696 shares of the specialty chemicals company’s stock worth $125,292,000 after acquiring an additional 382,949 shares in the last quarter. Finally, Pzena Investment Management LLC lifted its holdings in Axalta Coating Systems by 2.0% in the 3rd quarter. Pzena Investment Management LLC now owns 3,825,560 shares of the specialty chemicals company’s stock valued at $102,908,000 after acquiring an additional 73,604 shares during the last quarter. Institutional investors and hedge funds 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.