Axalta Coating Systems (NYSE:AXTA) Given New $40.00 Price Target at Robert W. Baird

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

Several other research firms have also weighed in on AXTA. Mizuho decreased their price target on Axalta Coating Systems from $40.00 to $38.00 and set a buy rating on the stock in a report on Thursday. Wolfe Research began coverage on shares of Axalta Coating Systems in a report on Friday, March 1st. They issued a peer perform rating for the company. Citigroup upped their price target on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the company a buy rating in a report on Wednesday, April 10th. UBS Group lowered Axalta Coating Systems from a buy rating to a neutral rating and boosted their target price for the company from $35.00 to $36.00 in a research report on Monday, January 8th. Finally, Wells Fargo & Company raised their price target on shares of 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $38.00.

Axalta Coating Systems Price Performance

AXTA traded up $0.37 during trading hours on Thursday, hitting $35.20. The company’s stock had a trading volume of 3,991,263 shares, compared to its average volume of 2,581,191. The stock has a market cap of $7.77 billion, a price-to-earnings ratio of 31.72, a P/E/G ratio of 1.08 and a beta of 1.51. The business’s 50-day moving average price is $32.78 and its 200-day moving average price is $31.82. The company has a current ratio of 2.07, a quick ratio of 1.46 and a debt-to-equity ratio of 1.92. Axalta Coating Systems has a 12 month low of $25.03 and a 12 month 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 (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.08. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Axalta Coating Systems had a net margin of 4.77% and a return on equity of 21.82%. During the same period in the prior year, the company earned $0.35 EPS. The business’s revenue was up 1.3% compared to the same quarter last year. Sell-side analysts expect that Axalta Coating Systems will post 1.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Axalta Coating Systems

Large investors have recently modified their holdings of the business. Wellington Management Group LLP grew its position in shares of Axalta Coating Systems by 9.0% in the third quarter. Wellington Management Group LLP now owns 4,657,696 shares of the specialty chemicals company’s stock valued at $125,292,000 after purchasing an additional 382,949 shares in the last quarter. Hawk Ridge Capital Management LP lifted its position in Axalta Coating Systems by 49.3% in the third quarter. Hawk Ridge Capital Management LP now owns 2,952,198 shares of the specialty chemicals company’s stock valued at $79,414,000 after buying an additional 974,973 shares during the last quarter. JPMorgan Chase & Co. raised its position in Axalta Coating Systems by 11.7% in the third quarter. JPMorgan Chase & Co. now owns 13,470,860 shares of the specialty chemicals company’s stock valued at $362,366,000 after purchasing an additional 1,415,723 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Axalta Coating Systems by 11.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,644,246 shares of the specialty chemicals company’s stock worth $71,130,000 after acquiring an additional 272,455 shares in the last quarter. Finally, Prospector Partners LLC lifted its position in shares of Axalta Coating Systems by 10.2% during the third quarter. Prospector Partners LLC now owns 323,930 shares of the specialty chemicals company’s stock worth $8,714,000 after purchasing an additional 29,930 shares in the last quarter. Hedge funds and other institutional investors own 98.28% of the company’s stock.

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.