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

Axalta Coating Systems (NYSE:AXTA) had its price objective boosted by JPMorgan Chase & Co. from $38.00 to $40.00 in a report published on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the specialty chemicals company’s stock.

Other analysts also recently issued research reports about the stock. Wells Fargo & Company raised their price target on shares of Axalta Coating Systems from $31.00 to $33.00 and gave the stock an equal weight rating in a report on Tuesday, January 9th. Robert W. Baird raised their target price on Axalta Coating Systems from $35.00 to $40.00 and gave the stock an outperform rating in a research note on Thursday. Mizuho decreased their price target on Axalta Coating Systems from $40.00 to $38.00 and set a buy rating on the stock in a research note on Thursday. Barclays raised their price objective on Axalta Coating Systems from $38.00 to $40.00 and gave the stock an overweight rating in a research report on Thursday. Finally, Wolfe Research assumed coverage on shares of Axalta Coating Systems in a research report on Friday, March 1st. They issued a peer perform rating on the stock. 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. Based on data from MarketBeat.com, Axalta Coating Systems currently has a consensus rating of Moderate Buy and an average target price of $38.00.

Axalta Coating Systems Stock Performance

NYSE AXTA opened at $35.20 on Thursday. Axalta Coating Systems has a fifty-two week low of $25.03 and a fifty-two week high of $35.31. The firm has a market capitalization of $7.77 billion, a P/E ratio of 31.71, a price-to-earnings-growth ratio of 1.09 and a beta of 1.51. The stock’s fifty day moving average is $32.84 and its two-hundred day moving average is $31.88. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.46 and a current ratio of 2.07.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the company posted $0.35 EPS. The company’s revenue was up 1.3% compared to the same quarter last year. On average, research analysts anticipate that Axalta Coating Systems will post 1.99 earnings per share for the current year.

Institutional Investors Weigh In On Axalta Coating Systems

Several large investors have recently added to or reduced their stakes in AXTA. CWM LLC boosted its position in Axalta Coating Systems by 35.6% in the 3rd 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 period. Verdence Capital Advisors LLC boosted its holdings in Axalta Coating Systems by 20.3% in the third 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 grew its stake in Axalta Coating Systems by 23.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,794 shares of the specialty chemicals company’s stock worth $1,205,000 after purchasing an additional 8,489 shares in the last quarter. Mackenzie Financial Corp grew its stake in Axalta Coating Systems by 0.5% during the 3rd quarter. Mackenzie Financial Corp now owns 172,500 shares of the specialty chemicals company’s stock worth $4,663,000 after purchasing an additional 900 shares in the last quarter. Finally, Strs Ohio increased its holdings in Axalta Coating Systems by 7.5% during the 3rd 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 during the period. 98.28% of the stock is 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.