Brokerages Set Axalta Coating Systems Ltd. (NYSE:AXTA) Target Price at $41.00

Axalta Coating Systems Ltd. (NYSE:AXTA) has been assigned a consensus recommendation of “Moderate Buy” from the eleven research firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $41.70.

AXTA has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on Axalta Coating Systems from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. KeyCorp boosted their target price on Axalta Coating Systems from $44.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Robert W. Baird increased their target price on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Royal Bank of Canada lifted their price target on shares of Axalta Coating Systems from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Barclays increased their price objective on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, November 1st.

Hedge Funds Weigh In On Axalta Coating Systems

A number of hedge funds have recently modified their holdings of AXTA. Millennium Management LLC increased its holdings 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 valued at $93,411,000 after purchasing an additional 1,292,434 shares during the period. Locust Wood Capital Advisers LLC grew its position in shares of Axalta Coating Systems by 63.8% in the 1st quarter. Locust Wood Capital Advisers LLC now owns 3,198,290 shares of the specialty chemicals company’s stock valued at $109,989,000 after buying an additional 1,245,223 shares during the last quarter. Interval Partners LP increased its stake in shares of 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 valued at $41,857,000 after buying an additional 1,074,961 shares during the period. Vanguard Group Inc. raised its position in shares of Axalta Coating Systems by 2.4% during the first 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 during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Axalta Coating Systems by 5.6% in the second quarter. Victory Capital Management Inc. now owns 10,403,246 shares of the specialty chemicals company’s stock worth $355,479,000 after acquiring an additional 550,970 shares during the period. Institutional investors and hedge funds own 98.28% of the company’s stock.

Axalta Coating Systems Stock Up 1.0 %

AXTA stock opened at $38.45 on Wednesday. The company has a market cap of $8.38 billion, a PE ratio of 25.98, a price-to-earnings-growth ratio of 0.81 and a beta of 1.43. The company has a quick ratio of 1.42, a current ratio of 2.00 and a debt-to-equity ratio of 1.80. Axalta Coating Systems has a 52 week low of $28.95 and a 52 week high of $38.77. The business has a 50-day simple moving average of $36.08 and a 200 day simple moving average of $35.20.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.32 billion. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.45 EPS. Sell-side analysts anticipate that Axalta Coating Systems will post 2.16 EPS for the current fiscal year.

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.