Axalta Coating Systems (NYSE:AXTA) Price Target Raised to $48.00

Axalta Coating Systems (NYSE:AXTA) had its price objective boosted by research analysts at BMO Capital Markets from $46.00 to $48.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the specialty chemicals company’s stock. BMO Capital Markets’ target price indicates a potential upside of 18.64% from the company’s previous close.

A number of other analysts also recently weighed in on AXTA. KeyCorp boosted their target price on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Evercore ISI assumed coverage on Axalta Coating Systems in a research report on Wednesday. They set an “outperform” rating and a $47.00 price target on the stock. Robert W. Baird raised their price objective on Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Royal Bank of Canada increased their price objective on shares of Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Axalta Coating Systems presently has an average rating of “Moderate Buy” and a consensus price target of $42.45.

Axalta Coating Systems Stock Up 2.2 %

NYSE:AXTA traded up $0.86 during mid-day trading on Wednesday, hitting $40.46. 358,227 shares of the company’s stock were exchanged, compared to its average volume of 2,020,805. The business has a fifty day moving average price of $36.46 and a 200 day moving average price of $35.51. Axalta Coating Systems has a one year low of $30.40 and a one year high of $40.53. The company has a market cap of $8.82 billion, a PE ratio of 27.32, a P/E/G ratio of 0.86 and a beta of 1.43. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.00 and a quick ratio of 1.42.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings data 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 net margin of 6.22% and a return on equity of 24.92%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the firm posted $0.45 earnings per share. The firm’s revenue was up .8% compared to the same quarter last year. Equities analysts predict that Axalta Coating Systems will post 2.16 EPS for the current year.

Hedge Funds Weigh In On Axalta Coating Systems

Institutional investors and hedge funds have recently modified their holdings of the stock. Plato Investment Management Ltd bought a new stake in shares of Axalta Coating Systems during the 2nd quarter worth $30,000. First Horizon Advisors Inc. boosted its stake in Axalta Coating Systems by 35.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 266 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Axalta Coating Systems by 111.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,417 shares of the specialty chemicals company’s stock worth $48,000 after purchasing an additional 747 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Axalta Coating Systems during the third quarter valued at approximately $54,000. Finally, UMB Bank n.a. grew its holdings in Axalta Coating Systems by 90.2% during the 3rd quarter. UMB Bank n.a. now owns 1,546 shares of the specialty chemicals company’s stock worth $56,000 after acquiring an additional 733 shares during the period. 98.28% of the stock is currently owned by hedge funds and other institutional investors.

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.