Recent Investment Analysts’ Ratings Changes for Axalta Coating Systems (AXTA)

Several brokerages have updated their recommendations and price targets on shares of Axalta Coating Systems (NYSE: AXTA) in the last few weeks:

• 5/2/2024 – Axalta Coating Systems had its price target raised by analysts at JPMorgan Chase & Co. from $38.00 to $40.00. They now have an “overweight” rating on the stock.
• 5/2/2024 – Axalta Coating Systems had its price target raised by analysts at KeyCorp from $38.00 to $40.00. They now have an “overweight” rating on the stock.
• 5/2/2024 – Axalta Coating Systems had its price target raised by analysts at Barclays PLC from $38.00 to $40.00. They now have an “overweight” rating on the stock.
• 5/2/2024 – Axalta Coating Systems had its price target raised by analysts at BMO Capital Markets from $42.00 to $45.00. They now have an “outperform” rating on the stock.
• 5/2/2024 – Axalta Coating Systems had its price target raised by analysts at Robert W. Baird from $35.00 to $40.00. They now have an “outperform” rating on the stock.
• 5/2/2024 – Axalta Coating Systems had its price target lowered by analysts at Mizuho from $40.00 to $38.00. They now have a “buy” rating on the stock.
• 4/10/2024 – Axalta Coating Systems had its price target raised by analysts at Citigroup Inc. from $38.00 to $40.00. They now have a “buy” rating on the stock.

Axalta Coating Systems Stock Performance

AXTA traded up $0.11 during trading hours on Friday, hitting $34.94. 491,200 shares of the stock were exchanged, compared to its average volume of 2,102,052. The stock has a 50-day simple moving average of $32.78 and a 200-day simple moving average of $31.82. Axalta Coating Systems Ltd. has a 12 month low of $25.03 and a 12 month high of $35.31. The stock has a market cap of $7.71 billion, a price-to-earnings ratio of 31.48, a price-to-earnings-growth ratio of 1.10 and a beta of 1.51. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.07 and a quick ratio of 1.46.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.08. Axalta Coating Systems had a return on equity of 21.82% and a net margin of 4.77%. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the company posted $0.35 EPS. Axalta Coating Systems’s revenue for the quarter was up 1.3% on a year-over-year basis. Analysts anticipate that Axalta Coating Systems Ltd. will post 1.9 earnings per share for the current year.

Institutional Investors Weigh In On Axalta Coating Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its holdings in Axalta Coating Systems by 1,856.6% during the 4th quarter. Victory Capital Management Inc. now owns 5,866,601 shares of the specialty chemicals company’s stock worth $199,288,000 after buying an additional 5,566,757 shares during the period. Norges Bank bought a new position in Axalta Coating Systems during the fourth quarter valued at $82,878,000. Locust Wood Capital Advisers LLC bought a new position in shares of Axalta Coating Systems in the fourth quarter worth $66,346,000. Kinetic Partners Management LP purchased a new stake in shares of Axalta Coating Systems in the third quarter worth $40,603,000. Finally, JPMorgan Chase & Co. raised its position in shares of Axalta Coating Systems by 11.7% in the third quarter. JPMorgan Chase & Co. now owns 13,470,860 shares of the specialty chemicals company’s stock worth $362,366,000 after buying an additional 1,415,723 shares in the last quarter. Institutional investors own 98.28% of the company’s stock.

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.