Axalta Coating Systems (NYSE:AXTA) Price Target Raised to $48.00

Axalta Coating Systems (NYSE:AXTA) had its price objective raised by BMO Capital Markets from $46.00 to $48.00 in a research note published on Wednesday morning,Benzinga reports. BMO Capital Markets currently has an outperform rating on the specialty chemicals company’s stock.

Several other research firms have also recently weighed in on AXTA. Royal Bank of Canada raised their price target on Axalta Coating Systems from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Mizuho boosted their price target on shares of Axalta Coating Systems from $42.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Evercore ISI started coverage on shares of Axalta Coating Systems in a research note on Wednesday. They set an “outperform” rating and a $47.00 price target on the stock. JPMorgan Chase & Co. boosted their target price on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, Robert W. Baird increased their price target on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Axalta Coating Systems presently has an average rating of “Moderate Buy” and an average price target of $42.45.

Axalta Coating Systems Price Performance

AXTA stock opened at $40.60 on Wednesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.42 and a current ratio of 2.00. The company’s fifty day moving average price is $36.46 and its 200-day moving average price is $35.51. Axalta Coating Systems has a one year low of $30.40 and a one year high of $40.76. The company has a market capitalization of $8.85 billion, a PE ratio of 27.43, a price-to-earnings-growth ratio of 0.85 and a beta of 1.43.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.51 by $0.08. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.45 EPS. On average, equities analysts anticipate that Axalta Coating Systems will post 2.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Millennium Management LLC grew its stake in Axalta Coating Systems by 89.7% in the second quarter. Millennium Management LLC now owns 2,733,703 shares of the specialty chemicals company’s stock worth $93,411,000 after purchasing an additional 1,292,434 shares in the last quarter. Interval Partners LP lifted its stake in Axalta Coating Systems by 716.6% in the second quarter. Interval Partners LP now owns 1,224,961 shares of the specialty chemicals company’s stock worth $41,857,000 after acquiring an additional 1,074,961 shares during the period. Vanguard Group Inc. grew its holdings in Axalta Coating Systems by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 23,763,601 shares of the specialty chemicals company’s stock worth $817,230,000 after acquiring an additional 554,806 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Axalta Coating Systems by 5.6% in the 2nd quarter. Victory Capital Management Inc. now owns 10,403,246 shares of the specialty chemicals company’s stock valued at $355,479,000 after purchasing an additional 550,970 shares in the last quarter. Finally, Westwood Holdings Group Inc. lifted its position in shares of Axalta Coating Systems by 1,424.5% in the 1st quarter. Westwood Holdings Group Inc. now owns 545,089 shares of the specialty chemicals company’s stock worth $18,746,000 after purchasing an additional 509,333 shares during the period. Hedge funds and other institutional investors own 98.28% of the company’s stock.

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.