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

Axalta Coating Systems (NYSE:AXTA) had its target price raised by Robert W. Baird from $35.00 to $40.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an outperform rating on the specialty chemicals company’s stock.

Several other research analysts have also issued reports on AXTA. Mizuho dropped their target price on Axalta Coating Systems from $40.00 to $38.00 and set a buy rating for the company in a research report on Thursday. Wolfe Research initiated coverage on Axalta Coating Systems in a report on Friday, March 1st. They set a peer perform rating for the company. Wells Fargo & Company increased their target price on Axalta Coating Systems from $31.00 to $33.00 and gave the stock an equal weight rating in a research note on Tuesday, January 9th. Citigroup lifted their target price 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. Finally, UBS Group cut shares of Axalta Coating Systems from a buy rating to a neutral rating and upped their price target for the stock from $35.00 to $36.00 in a report on Monday, January 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Axalta Coating Systems presently has an average rating of Moderate Buy and an average target price of $38.00.

Axalta Coating Systems Stock Up 1.1 %

Shares of AXTA opened at $35.20 on Thursday. The company has a quick ratio of 1.46, a current ratio of 2.07 and a debt-to-equity ratio of 1.92. The business has a fifty day moving average of $32.84 and a 200 day moving average of $31.88. The company has a market cap of $7.77 billion, a PE ratio of 31.71, a P/E/G ratio of 1.09 and a beta of 1.51. Axalta Coating Systems has a 52-week low of $25.03 and a 52-week high of $35.31.

Axalta Coating Systems (NYSE:AXTA) last announced its 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 business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the firm posted $0.35 earnings per share. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, sell-side analysts expect that Axalta Coating Systems will post 1.99 EPS for the current year.

Hedge Funds Weigh In On Axalta Coating Systems

Hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. raised its stake in Axalta Coating Systems by 1,856.6% in the fourth quarter. Victory Capital Management Inc. now owns 5,866,601 shares of the specialty chemicals company’s stock worth $199,288,000 after buying an additional 5,566,757 shares in the last quarter. Norges Bank purchased a new position in shares of Axalta Coating Systems in the 4th quarter valued at $82,878,000. Locust Wood Capital Advisers LLC purchased a new position in shares of Axalta Coating Systems in the 4th quarter valued at $66,346,000. Kinetic Partners Management LP bought a new position in shares of Axalta Coating Systems in the 3rd quarter worth $40,603,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Axalta Coating Systems by 11.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 13,470,860 shares of the specialty chemicals company’s stock worth $362,366,000 after purchasing an additional 1,415,723 shares during the last quarter. 98.28% of the stock is currently owned by 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.