Axalta Coating Systems (NYSE:AXTA) Hits New 1-Year High – Here’s Why

Axalta Coating Systems Ltd. (NYSE:AXTA)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $39.81 and last traded at $39.81, with a volume of 3113 shares changing hands. The stock had previously closed at $38.42.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AXTA. Royal Bank of Canada boosted their price target on Axalta Coating Systems from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, November 1st. JPMorgan Chase & Co. boosted their price target on Axalta Coating Systems from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Barclays boosted their price target on Axalta Coating Systems from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, November 1st. KeyCorp boosted their price target on Axalta Coating Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Mizuho boosted their price objective on Axalta Coating Systems from $42.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.70.

Axalta Coating Systems Trading Up 0.7 %

The company has a 50 day moving average of $36.16 and a 200 day moving average of $35.23. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.42 and a current ratio of 2.00. The stock has a market capitalization of $8.68 billion, a price-to-earnings ratio of 26.89, a P/E/G ratio of 0.82 and a beta of 1.43.

Axalta Coating Systems (NYSE:AXTA) last issued its earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the company earned $0.45 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. On average, research analysts predict that Axalta Coating Systems Ltd. will post 2.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Axalta Coating Systems

A number of hedge funds have recently modified their holdings of the business. Signaturefd LLC grew its holdings in shares of Axalta Coating Systems by 14.1% during the 3rd quarter. Signaturefd LLC now owns 3,599 shares of the specialty chemicals company’s stock worth $130,000 after purchasing an additional 444 shares during the period. Wedge Capital Management L L P NC grew its holdings in shares of Axalta Coating Systems by 0.4% during the 2nd quarter. Wedge Capital Management L L P NC now owns 110,555 shares of the specialty chemicals company’s stock worth $3,778,000 after purchasing an additional 453 shares during the period. Venturi Wealth Management LLC grew its holdings in shares of Axalta Coating Systems by 30.2% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,964 shares of the specialty chemicals company’s stock worth $71,000 after purchasing an additional 455 shares during the period. Verdence Capital Advisors LLC grew its holdings in shares of Axalta Coating Systems by 4.4% during the 3rd quarter. Verdence Capital Advisors LLC now owns 11,162 shares of the specialty chemicals company’s stock worth $404,000 after purchasing an additional 473 shares during the period. Finally, O Shaughnessy Asset Management LLC grew its holdings in shares of Axalta Coating Systems by 9.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 6,450 shares of the specialty chemicals company’s stock worth $222,000 after purchasing an additional 530 shares during the period. 98.28% of the stock is currently owned by hedge funds and other institutional investors.

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.