Axalta Coating Systems (NYSE:AXTA) Given New $40.00 Price Target at KeyCorp

Axalta Coating Systems (NYSE:AXTA) had its target price raised by KeyCorp from $38.00 to $40.00 in a research report report published on Thursday, Benzinga reports. The firm currently has an overweight rating on the specialty chemicals company’s stock.

A number of other equities research analysts also recently commented on the company. Wells Fargo & Company lifted their price objective on Axalta Coating Systems from $31.00 to $33.00 and gave the company an equal weight rating in a research report on Tuesday, January 9th. Robert W. Baird increased their price target on shares of Axalta Coating Systems from $35.00 to $40.00 and gave the stock an outperform rating in a research note on Thursday. UBS Group cut shares of Axalta Coating Systems from a buy rating to a neutral rating and boosted their price objective for the company from $35.00 to $36.00 in a research note on Monday, January 8th. Citigroup lifted their target price on Axalta Coating Systems from $38.00 to $40.00 and gave the company a buy rating in a report on Wednesday, April 10th. Finally, Mizuho dropped their price target on Axalta Coating Systems from $40.00 to $38.00 and set a buy rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $38.00.

Axalta Coating Systems Price Performance

Shares of AXTA traded up $0.37 during trading hours on Thursday, reaching $35.20. 3,991,263 shares of the company traded hands, compared to its average volume of 2,581,191. The stock has a fifty day simple moving average of $32.78 and a 200 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 stock has a market capitalization of $7.77 billion, a PE ratio of 31.72, a price-to-earnings-growth ratio of 1.08 and a beta of 1.51. The company has a quick ratio of 1.46, a current ratio of 2.07 and a debt-to-equity ratio of 1.92.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 EPS 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 the consensus estimate of $1.29 billion. During the same period in the previous year, the firm posted $0.35 earnings per share. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, research analysts predict that Axalta Coating Systems will post 1.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Fifth Third Bancorp lifted its holdings 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 buying an additional 338 shares in the last quarter. TFO Wealth Partners LLC increased its position in shares of Axalta Coating Systems by 12,022.2% during the fourth quarter. TFO Wealth Partners LLC now owns 1,091 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 1,082 shares during the last quarter. Raleigh Capital Management Inc. acquired a new position in shares of Axalta Coating Systems in the fourth quarter worth about $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 purchasing an additional 649 shares during the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in Axalta Coating Systems during the 4th quarter valued at approximately $88,000. 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.