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

Axalta Coating Systems (NYSE:AXTA) had its target price raised by BMO Capital Markets from $42.00 to $45.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the specialty chemicals company’s stock.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. lifted their price target on Axalta Coating Systems from $35.00 to $38.00 and gave the stock an overweight rating in a research note on Friday, February 9th. Wolfe Research assumed coverage on Axalta Coating Systems in a report on Friday, March 1st. They issued a peer perform rating for the company. Mizuho reduced their price objective on Axalta Coating Systems from $40.00 to $38.00 and set a buy rating on the stock in a research note on Thursday. Wells Fargo & Company boosted their target price on shares of Axalta Coating Systems from $31.00 to $33.00 and gave the company an equal weight rating in a research note on Tuesday, January 9th. Finally, UBS Group downgraded shares of Axalta Coating Systems from a buy rating to a neutral rating and raised their price target for the stock from $35.00 to $36.00 in a research report on Monday, January 8th. One investment 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 MarketBeat.com, Axalta Coating Systems has a consensus rating of Moderate Buy and an average price target of $38.00.

Axalta Coating Systems Stock Performance

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

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AXTA. Fifth Third Bancorp boosted 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 buying an additional 338 shares during the period. Treasurer of the State of North Carolina boosted its position in Axalta Coating Systems by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 97,171 shares of the specialty chemicals company’s stock worth $2,614,000 after acquiring an additional 490 shares during the period. M&T Bank Corp grew its stake in shares of Axalta Coating Systems by 6.5% in the fourth quarter. M&T Bank Corp now owns 9,161 shares of the specialty chemicals company’s stock worth $311,000 after purchasing an additional 556 shares in the last quarter. CWM LLC increased its holdings in shares of Axalta Coating Systems by 23.2% during the fourth quarter. CWM LLC now owns 3,049 shares of the specialty chemicals company’s stock valued at $104,000 after purchasing an additional 575 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in Axalta Coating Systems by 1.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 56,174 shares of the specialty chemicals company’s stock worth $1,908,000 after purchasing an additional 576 shares during the period. 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.