Axalta Coating Systems (NYSE:AXTA) PT Raised to $42.00

Axalta Coating Systems (NYSE:AXTA) had its target price hoisted by Robert W. Baird from $40.00 to $42.00 in a report released on Friday, Benzinga reports. The firm currently has an outperform rating on the specialty chemicals company’s stock.

A number of other research firms have also recently commented on AXTA. Barclays upped their price target on Axalta Coating Systems from $40.00 to $42.00 and gave the stock an overweight rating in a research note on Friday. KeyCorp upped their price target on Axalta Coating Systems from $40.00 to $44.00 and gave the stock an overweight rating in a research note on Friday. BMO Capital Markets upped their price target on Axalta Coating Systems from $42.00 to $45.00 and gave the stock an outperform rating in a research note on Thursday, May 2nd. Citigroup upped their price objective on Axalta Coating Systems from $38.00 to $40.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. Finally, UBS Group cut their price objective on Axalta Coating Systems from $39.00 to $38.00 and set a neutral rating on the stock in a research report on Tuesday, July 9th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Axalta Coating Systems currently has an average rating of Moderate Buy and a consensus target price of $39.91.

Axalta Coating Systems Trading Down 3.9 %

AXTA traded down $1.43 during trading hours on Friday, reaching $35.21. The company’s stock had a trading volume of 2,428,282 shares, compared to its average volume of 2,161,700. Axalta Coating Systems has a fifty-two week low of $25.03 and a fifty-two week high of $37.49. The stock has a market cap of $7.77 billion, a PE ratio of 31.72, a P/E/G ratio of 0.91 and a beta of 1.44. The business’s 50-day moving average is $35.02 and its 200-day moving average is $33.74. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.26 and a quick ratio of 1.51.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.57 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 company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the prior year, the firm earned $0.35 earnings per share. The firm’s revenue was up 4.4% compared to the same quarter last year. As a group, equities research analysts predict that Axalta Coating Systems will post 2.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Axalta Coating Systems

Several large investors have recently bought and sold shares of the business. Victory Capital Management Inc. boosted its stake in 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 in the last quarter. Norges Bank acquired a new position in Axalta Coating Systems in the fourth quarter valued at $82,878,000. Locust Wood Capital Advisers LLC acquired a new position in Axalta Coating Systems in the fourth quarter valued at $66,346,000. Vaughan Nelson Investment Management L.P. boosted its stake in Axalta Coating Systems by 39.9% in 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 acquiring an additional 631,975 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in Axalta Coating Systems by 2,001.1% in the fourth quarter. Federated Hermes Inc. now owns 622,797 shares of the specialty chemicals company’s stock valued at $21,156,000 after acquiring an additional 593,156 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.