Axalta Coating Systems (NYSE:AXTA) Price Target Raised to $44.00

Axalta Coating Systems (NYSE:AXTA) had its price objective upped by KeyCorp from $40.00 to $44.00 in a report published on Friday, Benzinga reports. They currently have an overweight rating on the specialty chemicals company’s stock.

Several other equities research analysts have also commented on AXTA. Royal Bank of Canada upped their target price on Axalta Coating Systems from $39.00 to $42.00 and gave the company an outperform rating in a research report on Friday, May 3rd. Mizuho increased their price target on Axalta Coating Systems from $38.00 to $41.00 and gave the company a buy rating in a research report on Tuesday, May 21st. 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 report on Thursday, May 2nd. UBS Group decreased their target price on Axalta Coating Systems from $39.00 to $38.00 and set a neutral rating for the company in a research report on Tuesday, July 9th. Finally, Wells Fargo & Company raised Axalta Coating Systems from a hold rating to a strong-buy rating in a report on Tuesday, June 11th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $41.00.

Axalta Coating Systems Stock Performance

NYSE:AXTA opened at $34.08 on Friday. The stock has a fifty day moving average price of $35.02 and a 200-day moving average price of $33.76. The company has a market cap of $7.52 billion, a price-to-earnings ratio of 30.69, a PEG ratio of 0.91 and a beta of 1.44. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.51 and a current ratio of 2.26. Axalta Coating Systems has a fifty-two week low of $25.03 and a fifty-two week high of $37.49.

Axalta Coating Systems (NYSE:AXTA) last issued its earnings results on Thursday, August 1st. The specialty chemicals company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. Axalta Coating Systems had a return on equity of 24.28% and a net margin of 5.69%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the prior year, the firm earned $0.35 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, equities analysts anticipate that Axalta Coating Systems will post 2.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AXTA. Raymond James & Associates raised its position in Axalta Coating Systems by 1.5% in the 4th quarter. Raymond James & Associates now owns 234,542 shares of the specialty chemicals company’s stock worth $7,967,000 after purchasing an additional 3,390 shares during the period. Fifth Third Bancorp grew its holdings in shares of Axalta Coating Systems by 47.7% during the fourth quarter. Fifth Third Bancorp now owns 1,046 shares of the specialty chemicals company’s stock valued at $36,000 after buying an additional 338 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Axalta Coating Systems by 39.9% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,216,463 shares of the specialty chemicals company’s stock valued at $75,293,000 after buying an additional 631,975 shares during the last quarter. Custom Index Systems LLC purchased a new stake in Axalta Coating Systems in the fourth quarter valued at $251,000. Finally, Mutual of America Capital Management LLC raised its position in shares of Axalta Coating Systems by 4.2% in the fourth quarter. Mutual of America Capital Management LLC now owns 202,584 shares of the specialty chemicals company’s stock worth $6,882,000 after acquiring an additional 8,176 shares during the period. 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.