KeyCorp Boosts Axalta Coating Systems (NYSE:AXTA) Price Target to $44.00

Axalta Coating Systems (NYSE:AXTA) had its target price hoisted by KeyCorp from $40.00 to $44.00 in a research note published on Friday morning, Benzinga reports. They currently have an overweight rating on the specialty chemicals company’s stock.

A number of other analysts have also recently issued reports on AXTA. BMO Capital Markets increased 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. Royal Bank of Canada increased their price objective on Axalta Coating Systems from $39.00 to $42.00 and gave the company an outperform rating in a research report on Friday, May 3rd. Wells Fargo & Company upgraded Axalta Coating Systems from a hold rating to a strong-buy rating in a research report on Tuesday, June 11th. Mizuho raised their price target on Axalta Coating Systems from $38.00 to $41.00 and gave the stock a buy rating in a research report on Tuesday, May 21st. Finally, Citigroup increased 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. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $41.00.

Axalta Coating Systems Trading Down 3.2 %

Shares of Axalta Coating Systems stock opened at $34.08 on Friday. The stock has a fifty day simple moving average of $35.02 and a 200 day simple moving average of $33.76. Axalta Coating Systems has a 12-month low of $25.03 and a 12-month high of $37.49. The company has a market capitalization of $7.52 billion, a P/E ratio of 30.69, a price-to-earnings-growth ratio of 0.91 and a beta of 1.44. The company has a current ratio of 2.26, a quick ratio of 1.51 and a debt-to-equity ratio of 1.97.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings data on Thursday, August 1st. The specialty chemicals company reported $0.57 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the company earned $0.35 EPS. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, sell-side analysts anticipate that Axalta Coating Systems will post 2.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp raised its stake in 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 valued at $36,000 after buying an additional 338 shares during the last quarter. Wedge Capital Management L L P NC grew its holdings in shares of Axalta Coating Systems by 0.4% in the second quarter. Wedge Capital Management L L P NC now owns 110,555 shares of the specialty chemicals company’s stock worth $3,778,000 after acquiring an additional 453 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in shares of Axalta Coating Systems by 9.0% in the first quarter. O Shaughnessy Asset Management LLC now owns 6,450 shares of the specialty chemicals company’s stock worth $222,000 after acquiring an additional 530 shares during the period. M&T Bank Corp grew its holdings in Axalta Coating Systems by 6.5% during the fourth quarter. M&T Bank Corp now owns 9,161 shares of the specialty chemicals company’s stock valued at $311,000 after purchasing an additional 556 shares during the period. Finally, CWM LLC grew its holdings in 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. 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.