KeyCorp Raises Axalta Coating Systems (NYSE:AXTA) Price Target to $35.00

Axalta Coating Systems (NYSE:AXTA) had its price objective lifted by KeyCorp from $30.00 to $35.00 in a research report sent to investors on Wednesday, June 26th, The Fly reports. They currently have an overweight rating on the specialty chemicals company’s stock. KeyCorp also issued estimates for Axalta Coating Systems’ Q3 2019 earnings at $0.49 EPS and Q4 2019 earnings at $0.47 EPS.

A number of other equities analysts have also recently commented on the company. JPMorgan Chase & Co. reissued a hold rating and set a $137.00 target price on shares of Continental in a report on Friday, April 26th. BMO Capital Markets increased their target price on Axalta Coating Systems to $34.00 and gave the company a market perform rating in a report on Friday, June 21st. Maxim Group reissued a hold rating on shares of Castle Brands in a research note on Wednesday, June 19th. Finally, Zacks Investment Research upgraded Green Brick Partners from a sell rating to a hold rating in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $31.00.

Shares of NYSE:AXTA traded up $0.18 on Wednesday, reaching $30.40. The company had a trading volume of 4,559,392 shares, compared to its average volume of 2,218,021. Axalta Coating Systems has a 52-week low of $21.58 and a 52-week high of $32.14. The business has a 50 day moving average of $28.05. The company has a quick ratio of 1.60, a current ratio of 2.21 and a debt-to-equity ratio of 2.98. The firm has a market capitalization of $7.06 billion, a price-to-earnings ratio of 23.75, a PEG ratio of 1.47 and a beta of 1.46.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings results on Wednesday, April 24th. The specialty chemicals company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.13. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.15 billion. Axalta Coating Systems had a return on equity of 24.42% and a net margin of 3.90%. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.27 EPS. As a group, equities analysts expect that Axalta Coating Systems will post 1.72 EPS for the current year.

In other Axalta Coating Systems news, Director Charles W. Shaver sold 500,000 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $25.24, for a total transaction of $12,620,000.00. Following the transaction, the director now owns 492,369 shares of the company’s stock, valued at approximately $12,427,393.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.10% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. NEXT Financial Group Inc lifted its position in shares of Axalta Coating Systems by 633.3% in the second quarter. NEXT Financial Group Inc now owns 1,100 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 950 shares during the last quarter. IFM Investors Pty Ltd lifted its position in shares of Axalta Coating Systems by 4.1% in the second quarter. IFM Investors Pty Ltd now owns 12,202 shares of the specialty chemicals company’s stock worth $363,000 after buying an additional 484 shares during the last quarter. Marathon Asset Management LLP lifted its position in shares of Axalta Coating Systems by 2.2% in the second quarter. Marathon Asset Management LLP now owns 1,452,354 shares of the specialty chemicals company’s stock worth $43,238,000 after buying an additional 30,573 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Axalta Coating Systems by 67.5% in the second quarter. Nisa Investment Advisors LLC now owns 12,900 shares of the specialty chemicals company’s stock worth $384,000 after buying an additional 5,200 shares during the last quarter. Finally, Havens Advisors LLC acquired a new stake in shares of Axalta Coating Systems in the second quarter worth about $1,459,000. 98.46% 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. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers water and solvent borne products and systems that are used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.

Featured Story: How is inflation measured?

The Fly

Analyst Recommendations for Axalta Coating Systems (NYSE:AXTA)

Receive News & Ratings for Axalta Coating Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axalta Coating Systems and related companies with MarketBeat.com's FREE daily email newsletter.