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

Axalta Coating Systems (NYSE:AXTA) had its price objective raised by JPMorgan Chase & Co. from $38.00 to $40.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 13.64% from the company’s current price.

A number of other equities analysts have also commented on AXTA. Wolfe Research assumed coverage on shares of Axalta Coating Systems in a report on Friday, March 1st. They issued a “peer perform” rating on the stock. BMO Capital Markets boosted their price target on Axalta Coating Systems from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday. UBS Group lowered Axalta Coating Systems from a “buy” rating to a “neutral” rating and raised their price objective for the company from $35.00 to $36.00 in a research note on Monday, January 8th. Barclays upped their target price on Axalta Coating Systems from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Mizuho dropped their price target on shares of Axalta Coating Systems from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

Axalta Coating Systems Stock Up 1.1 %

Shares of AXTA traded up $0.37 during midday trading on Thursday, reaching $35.20. 3,991,263 shares of the company were exchanged, compared to its average volume of 2,581,191. Axalta Coating Systems has a 1-year low of $25.03 and a 1-year high of $35.31. The stock has a 50-day moving average price of $32.78 and a 200-day moving average price of $31.82. The company has a current ratio of 2.07, a quick ratio of 1.46 and a debt-to-equity ratio of 1.92. The company has a market cap of $7.77 billion, a price-to-earnings ratio of 31.72, a P/E/G ratio of 1.08 and a beta of 1.51.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.40 by $0.08. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.29 billion. Axalta Coating Systems had a return on equity of 21.82% and a net margin of 4.77%. Axalta Coating Systems’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 EPS. Research analysts expect that Axalta Coating Systems will post 1.98 earnings per share for the current year.

Hedge Funds Weigh In On Axalta Coating Systems

Institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp increased its holdings in shares of 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 acquiring an additional 338 shares during the period. TFO Wealth Partners LLC grew its position in Axalta Coating Systems by 12,022.2% in the 4th quarter. TFO Wealth Partners LLC now owns 1,091 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 1,082 shares during the last quarter. Raleigh Capital Management Inc. acquired a new stake in shares of Axalta Coating Systems in the fourth quarter valued at approximately $48,000. CWM LLC raised its holdings in shares of Axalta Coating Systems by 35.6% during the third quarter. CWM LLC now owns 2,474 shares of the specialty chemicals company’s stock valued at $67,000 after buying an additional 649 shares during the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Axalta Coating Systems during the fourth quarter valued at approximately $88,000. 98.28% of the stock is owned by 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.