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

Axalta Coating Systems (NYSE:AXTA - Get Free Report) had its price objective raised by equities researchers at Royal Bank of Canada from $39.00 to $42.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an "outperform" rating on the specialty chemicals company's stock. Royal Bank of Canada's target price would suggest a potential upside of 19.28% from the stock's previous close.

AXTA has been the topic of several other reports. Citigroup boosted their target price 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. Barclays boosted their target price on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the company an "overweight" rating in a research report on Thursday. Wolfe Research started coverage on Axalta Coating Systems in a research report on Friday, March 1st. They set a "peer perform" rating on the stock. BMO Capital Markets upped their target price on Axalta Coating Systems from $42.00 to $45.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Mizuho cut their target price on shares of Axalta Coating Systems from $40.00 to $38.00 and set a "buy" rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $38.00.

Axalta Coating Systems Price Performance

Shares of AXTA stock traded up $0.38 during trading hours on Friday, hitting $35.21. The stock had a trading volume of 3,991,263 shares, compared to its average volume of 2,144,088. The stock's 50-day moving average price is $32.78 and its two-hundred day moving average price is $31.82. Axalta Coating Systems has a one year low of $25.03 and a one year high of $35.31. The stock has a market capitalization of $7.77 billion, a price-to-earnings ratio of 31.71, a PEG ratio of 1.10 and a beta of 1.51. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.07 and a quick ratio of 1.46.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last released its earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.08. Axalta Coating Systems had a net margin of 4.77% and a return on equity of 21.82%. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the business earned $0.35 EPS. The business's revenue was up 1.3% on a year-over-year basis. Equities analysts forecast that Axalta Coating Systems will post 1.9 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP acquired a new position in Axalta Coating Systems in the first quarter valued at approximately $877,000. Mutual of America Capital Management LLC boosted its position in shares of Axalta Coating Systems by 3.4% in the 1st quarter. Mutual of America Capital Management LLC now owns 209,385 shares of the specialty chemicals company's stock valued at $7,201,000 after purchasing an additional 6,801 shares during the period. BNP Paribas Financial Markets increased its position in Axalta Coating Systems by 67.1% during the first quarter. BNP Paribas Financial Markets now owns 422,107 shares of the specialty chemicals company's stock worth $14,516,000 after buying an additional 169,434 shares during the period. Retirement Systems of Alabama lifted its stake in Axalta Coating Systems by 0.3% in the first quarter. Retirement Systems of Alabama now owns 276,369 shares of the specialty chemicals company's stock valued at $9,504,000 after buying an additional 726 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Axalta Coating Systems by 2.4% in the first quarter. Principal Financial Group Inc. now owns 829,262 shares of the specialty chemicals company's stock valued at $28,518,000 after buying an additional 19,720 shares during the last quarter. 98.28% of the stock is owned by institutional investors and hedge funds.

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.

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