Royal Bank of Canada Increases Axalta Coating Systems (NYSE:AXTA) Price Target to $44.00

Axalta Coating Systems (NYSE:AXTA) had its target price increased by Royal Bank of Canada from $42.00 to $44.00 in a research report report published on Monday, Benzinga reports. The brokerage currently has an outperform rating on the specialty chemicals company’s stock.

Other equities research analysts have also recently issued reports about the stock. UBS Group reduced their target price on shares of Axalta Coating Systems from $39.00 to $38.00 and set a neutral rating for the company in a report on Tuesday, July 9th. Robert W. Baird increased their price objective on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the company an outperform rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. raised their price objective on Axalta Coating Systems from $40.00 to $41.00 and gave the stock an overweight rating in a report on Monday. Citigroup upped their price target on Axalta Coating Systems from $38.00 to $40.00 and gave the stock a buy rating in a research note on Wednesday, April 10th. Finally, Wells Fargo & Company raised Axalta Coating Systems from a hold rating to a strong-buy rating in a research report on Tuesday, June 11th. Two research 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. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $41.00.

Axalta Coating Systems Stock Up 1.3 %

AXTA stock opened at $33.87 on Monday. The firm has a market capitalization of $7.47 billion, a price-to-earnings ratio of 30.51, 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. The company’s 50 day moving average price is $34.96 and its 200 day moving average price is $33.78. 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 announced its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.51 by $0.06. Axalta Coating Systems had a net margin of 5.69% and a return on equity of 24.28%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the firm posted $0.35 earnings per share. The firm’s revenue was up 4.4% on a year-over-year basis. On average, equities research analysts anticipate that Axalta Coating Systems will post 2.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Axalta Coating Systems

Large investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its position 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 worth $36,000 after acquiring an additional 338 shares during the last quarter. TFO Wealth Partners LLC lifted its position in shares of Axalta Coating Systems by 12,022.2% in the fourth quarter. TFO Wealth Partners LLC now owns 1,091 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 1,082 shares in the last quarter. Raleigh Capital Management Inc. acquired a new stake in shares of Axalta Coating Systems during the 4th quarter valued at about $48,000. GAMMA Investing LLC lifted its position in shares of Axalta Coating Systems by 111.5% in the second quarter. GAMMA Investing LLC now owns 1,417 shares of the specialty chemicals company’s stock worth $48,000 after buying an additional 747 shares during the last quarter. Finally, Versant Capital Management Inc bought a new position in Axalta Coating Systems in the 2nd quarter worth approximately $71,000. 98.28% of the stock is currently owned by institutional investors.

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.