Axalta Coating Systems (NYSE:AXTA) Price Target Raised to $40.00 at KeyCorp

Axalta Coating Systems (NYSE:AXTA) had its price target raised by investment analysts at KeyCorp from $38.00 to $40.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the specialty chemicals company’s stock. KeyCorp’s price objective would indicate a potential upside of 14.55% from the stock’s current price.

AXTA has been the topic of a number of other reports. Wells Fargo & Company upped their price target on 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. Mizuho cut their price objective 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. Citigroup lifted their price target on Axalta Coating Systems from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. BMO Capital Markets increased their price target on shares of Axalta Coating Systems from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Barclays upped their price target on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Axalta Coating Systems has a consensus rating of “Moderate Buy” and a consensus target price of $37.54.

Axalta Coating Systems Stock Up 2.1 %

AXTA stock traded up $0.71 during mid-day trading on Thursday, hitting $34.92. 1,360,708 shares of the company were exchanged, compared to its average volume of 2,081,084. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.46 and a current ratio of 1.98. The firm has a market cap of $7.70 billion, a P/E ratio of 29.13, a P/E/G ratio of 1.02 and a beta of 1.51. Axalta Coating Systems has a 1-year low of $25.03 and a 1-year high of $35.21. The firm’s 50 day simple moving average is $32.72 and its 200 day simple moving average is $31.80.

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, topping analysts’ consensus estimates of $0.40 by $0.08. Axalta Coating Systems had a net margin of 5.16% and a return on equity of 20.70%. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the business posted $0.35 EPS. The business’s revenue was up 1.3% compared to the same quarter last year. On average, sell-side analysts predict that Axalta Coating Systems will post 1.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Axalta Coating Systems

Several hedge funds and other institutional investors have recently modified their holdings of AXTA. CWM LLC increased its position in Axalta Coating Systems by 35.6% during the third quarter. CWM LLC now owns 2,474 shares of the specialty chemicals company’s stock valued at $67,000 after acquiring an additional 649 shares during the last quarter. Verdence Capital Advisors LLC lifted its stake in shares of Axalta Coating Systems by 20.3% in the 3rd quarter. Verdence Capital Advisors LLC now owns 12,700 shares of the specialty chemicals company’s stock worth $342,000 after purchasing an additional 2,143 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Axalta Coating Systems by 23.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,794 shares of the specialty chemicals company’s stock valued at $1,205,000 after buying an additional 8,489 shares during the period. Mackenzie Financial Corp increased its holdings in Axalta Coating Systems by 0.5% during the third quarter. Mackenzie Financial Corp now owns 172,500 shares of the specialty chemicals company’s stock valued at $4,663,000 after buying an additional 900 shares during the last quarter. Finally, Strs Ohio raised its position in Axalta Coating Systems by 7.5% in the third quarter. Strs Ohio now owns 61,827 shares of the specialty chemicals company’s stock worth $1,663,000 after acquiring an additional 4,317 shares during the period. 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.