BMO Capital Markets Increases Axalta Coating Systems (NYSE:AXTA) Price Target to $45.00

Axalta Coating Systems (NYSE:AXTA) had its target price boosted by BMO Capital Markets from $42.00 to $45.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an outperform rating on the specialty chemicals company’s stock.

Several other equities analysts have also recently commented on the stock. Wolfe Research began coverage on shares of Axalta Coating Systems in a research note on Friday, March 1st. They set a peer perform rating for the company. UBS Group lowered shares of Axalta Coating Systems from a buy rating to a neutral rating and upped their price objective for the company from $35.00 to $36.00 in a research report on Monday, January 8th. Barclays lifted their target price on Axalta Coating Systems from $38.00 to $40.00 and gave the stock an overweight rating in a research report on Thursday. JPMorgan Chase & Co. upped their price target on Axalta Coating Systems from $35.00 to $38.00 and gave the company an overweight rating in a report on Friday, February 9th. Finally, Mizuho decreased their price objective on Axalta Coating Systems from $40.00 to $38.00 and set a buy rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $38.00.

Axalta Coating Systems Trading Up 1.1 %

Axalta Coating Systems stock opened at $35.20 on Thursday. Axalta Coating Systems has a 52 week low of $25.03 and a 52 week high of $35.31. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.46 and a current ratio of 2.07. The firm has a market capitalization of $7.77 billion, a PE ratio of 31.71, a PEG ratio of 1.09 and a beta of 1.51. The business’s 50-day simple moving average is $32.84 and its 200-day simple moving average is $31.88.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.40 by $0.08. Axalta Coating Systems had a return on equity of 21.82% and a net margin of 4.77%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the business posted $0.35 EPS. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. Equities research analysts forecast that Axalta Coating Systems will post 1.99 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Axalta Coating Systems by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 23,208,795 shares of the specialty chemicals company’s stock worth $788,403,000 after purchasing an additional 322,393 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Axalta Coating Systems by 11.7% during the third quarter. JPMorgan Chase & Co. now owns 13,470,860 shares of the specialty chemicals company’s stock worth $362,366,000 after buying an additional 1,415,723 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Axalta Coating Systems by 1,856.6% in the fourth quarter. Victory Capital Management Inc. now owns 5,866,601 shares of the specialty chemicals company’s stock valued at $199,288,000 after acquiring an additional 5,566,757 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Axalta Coating Systems by 9.0% in the 3rd quarter. Wellington Management Group LLP now owns 4,657,696 shares of the specialty chemicals company’s stock worth $125,292,000 after acquiring an additional 382,949 shares in the last quarter. Finally, Pzena Investment Management LLC grew its position in Axalta Coating Systems by 2.0% during the 3rd quarter. Pzena Investment Management LLC now owns 3,825,560 shares of the specialty chemicals company’s stock worth $102,908,000 after acquiring an additional 73,604 shares during the last quarter. 98.28% of the stock is owned by institutional investors.

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.