Robert W. Baird Increases Axalta Coating Systems (NYSE:AXTA) Price Target to $40.00

Axalta Coating Systems (NYSE:AXTA) had its target price raised by analysts at Robert W. Baird from $35.00 to $40.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the specialty chemicals company’s stock. Robert W. Baird’s target price indicates a potential upside of 13.64% from the stock’s current price.

Several other analysts have also recently weighed in on AXTA. Wells Fargo & Company boosted their price objective on Axalta Coating Systems from $31.00 to $33.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 9th. Wolfe Research initiated coverage on shares of Axalta Coating Systems in a research note on Friday, March 1st. They set a “peer perform” rating for the company. JPMorgan Chase & Co. raised their price objective on shares of Axalta Coating Systems from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. UBS Group cut shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and upped their target price for the company from $35.00 to $36.00 in a research report on Monday, January 8th. Finally, Citigroup raised their price target on Axalta Coating Systems from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Axalta Coating Systems Price Performance

Shares of AXTA traded up $0.37 during mid-day trading on Thursday, hitting $35.20. 3,991,263 shares of the company traded hands, compared to its average volume of 2,581,191. 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 stock has a market capitalization of $7.77 billion, a price-to-earnings ratio of 31.72, a PEG ratio of 1.08 and a beta of 1.51. The business has a 50-day moving average of $32.78 and a 200 day moving average of $31.82. Axalta Coating Systems has a one year low of $25.03 and a one year high of $35.31.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings data on Wednesday, May 1st. The specialty chemicals company reported $0.48 earnings per share (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 the consensus estimate of $1.29 billion. Axalta Coating Systems had a return on equity of 21.82% and a net margin of 4.77%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 EPS. As a group, equities analysts expect that Axalta Coating Systems will post 1.98 earnings per share for the current fiscal year.

Institutional Trading of Axalta Coating Systems

Hedge funds have recently bought and sold shares of the stock. CWM LLC increased its position 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 worth $67,000 after acquiring an additional 649 shares in the last quarter. Verdence Capital Advisors LLC raised its stake in shares of Axalta Coating Systems by 20.3% in the 3rd quarter. Verdence Capital Advisors LLC now owns 12,700 shares of the specialty chemicals company’s stock valued at $342,000 after purchasing an additional 2,143 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Axalta Coating Systems by 23.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,794 shares of the specialty chemicals company’s stock valued at $1,205,000 after purchasing an additional 8,489 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Axalta Coating Systems by 0.5% in the third quarter. Mackenzie Financial Corp now owns 172,500 shares of the specialty chemicals company’s stock valued at $4,663,000 after purchasing an additional 900 shares during the last quarter. Finally, Strs Ohio lifted its position in shares of Axalta Coating Systems by 7.5% in the third quarter. Strs Ohio now owns 61,827 shares of the specialty chemicals company’s stock worth $1,663,000 after purchasing an additional 4,317 shares in the last quarter. 98.28% of the stock is currently owned by institutional investors and hedge funds.

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.