Axalta Coating Systems Ltd. (NYSE:AXTA) Receives $38.50 Average Target Price from Analysts

Axalta Coating Systems Ltd. (NYSE:AXTA) has been given an average rating of “Moderate Buy” by the thirteen research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $38.50.

A number of equities analysts have recently issued reports on the company. KeyCorp upped their price objective on Axalta Coating Systems from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. BMO Capital Markets upped their price objective on Axalta Coating Systems from $42.00 to $45.00 and gave the stock an “outperform” rating in a report 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 report on Wednesday, April 10th. Barclays upped their price objective on Axalta Coating Systems from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, Royal Bank of Canada boosted their target price on Axalta Coating Systems from $39.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd.

Institutional Trading of Axalta Coating Systems

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Fifth Third Wealth Advisors LLC purchased a new stake in Axalta Coating Systems during the 2nd quarter valued at $229,000. Fifth Third Bancorp lifted its position in shares of Axalta Coating Systems by 180.5% in the second quarter. Fifth Third Bancorp now owns 3,097 shares of the specialty chemicals company’s stock valued at $106,000 after acquiring an additional 1,993 shares in the last quarter. Leeward Investments LLC MA increased its holdings in shares of Axalta Coating Systems by 1.1% in the second quarter. Leeward Investments LLC MA now owns 856,617 shares of the specialty chemicals company’s stock worth $29,271,000 after purchasing an additional 9,040 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Axalta Coating Systems by 13.2% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,786,575 shares of the specialty chemicals company’s stock worth $61,047,000 after purchasing an additional 207,965 shares during the last quarter. Finally, Raymond James & Associates increased its holdings in shares of Axalta Coating Systems by 15.4% in the second quarter. Raymond James & Associates now owns 113,441 shares of the specialty chemicals company’s stock worth $3,876,000 after purchasing an additional 15,160 shares during the last quarter. Hedge funds and other institutional investors own 98.28% of the company’s stock.

Axalta Coating Systems Price Performance

Axalta Coating Systems stock opened at $34.87 on Monday. Axalta Coating Systems has a 52 week low of $25.03 and a 52 week high of $36.98. The business has a 50-day simple moving average of $34.98 and a 200 day simple moving average of $33.66. The company has a quick ratio of 1.51, a current ratio of 2.07 and a debt-to-equity ratio of 1.92. The stock has a market cap of $7.69 billion, a price-to-earnings ratio of 31.41, a PEG ratio of 0.90 and a beta of 1.44.

Axalta Coating Systems (NYSE:AXTA) last posted its earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.40 by $0.08. Axalta Coating Systems had a return on equity of 21.82% and a net margin of 4.77%. The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the previous year, the business earned $0.35 earnings per share. The firm’s revenue was up 1.3% on a year-over-year basis. On average, research analysts forecast that Axalta Coating Systems will post 1.98 earnings per share for the current fiscal year.

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.