Mizuho Increases Axalta Coating Systems (NYSE:AXTA) Price Target to $43.00

Axalta Coating Systems (NYSE:AXTA) had its price objective hoisted by research analysts at Mizuho from $42.00 to $43.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the specialty chemicals company’s stock. Mizuho’s target price indicates a potential upside of 12.45% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Barclays increased their price target on Axalta Coating Systems from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. UBS Group decreased their price target on shares of Axalta Coating Systems from $39.00 to $38.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. KeyCorp lifted their price objective on Axalta Coating Systems from $40.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. lifted their target price on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Finally, Robert W. Baird upped their price target on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Axalta Coating Systems presently has a consensus rating of “Moderate Buy” and an average target price of $41.20.

Axalta Coating Systems Stock Performance

NYSE:AXTA traded down $0.08 during trading on Thursday, reaching $38.24. The company’s stock had a trading volume of 140,308 shares, compared to its average volume of 2,025,090. Axalta Coating Systems has a 12 month low of $25.92 and a 12 month high of $38.77. The firm has a market cap of $8.44 billion, a price-to-earnings ratio of 34.45, a price-to-earnings-growth ratio of 0.87 and a beta of 1.44. The firm has a 50 day moving average of $35.86 and a 200-day moving average of $34.99. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.70 and a current ratio of 2.26.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.08. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.32 billion. Axalta Coating Systems had a net margin of 5.69% and a return on equity of 24.28%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.45 earnings per share. Research analysts expect that Axalta Coating Systems will post 2.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Plato Investment Management Ltd bought a new stake in shares of Axalta Coating Systems during the 2nd quarter valued at about $30,000. GAMMA Investing LLC boosted its position in Axalta Coating Systems by 111.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,417 shares of the specialty chemicals company’s stock valued at $48,000 after acquiring an additional 747 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Axalta Coating Systems by 90.2% during the 3rd quarter. UMB Bank n.a. now owns 1,546 shares of the specialty chemicals company’s stock worth $56,000 after acquiring an additional 733 shares during the period. Versant Capital Management Inc bought a new position in shares of Axalta Coating Systems in the 2nd quarter worth approximately $71,000. Finally, Quarry LP bought a new position in shares of Axalta Coating Systems in the 2nd quarter worth approximately $73,000. 98.28% of the stock is owned by hedge funds and other 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.