Royal Bank of Canada Boosts Axalta Coating Systems (NYSE:AXTA) Price Target to $46.00

Axalta Coating Systems (NYSE:AXTA) had its price target lifted by analysts at Royal Bank of Canada from $44.00 to $46.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the specialty chemicals company’s stock. Royal Bank of Canada’s target price points to a potential upside of 21.66% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. JPMorgan Chase & Co. lifted their price target on Axalta Coating Systems from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Mizuho upped their price target on Axalta Coating Systems from $42.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday. Robert W. Baird increased their price target on Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. UBS Group cut their price objective 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. Finally, Barclays upped their target price on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Axalta Coating Systems has an average rating of “Moderate Buy” and an average price target of $41.70.

Axalta Coating Systems Stock Down 0.3 %

Axalta Coating Systems stock traded down $0.11 during mid-day trading on Friday, reaching $37.81. The stock had a trading volume of 877,977 shares, compared to its average volume of 2,035,230. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.70 and a current ratio of 2.00. Axalta Coating Systems has a fifty-two week low of $28.69 and a fifty-two week high of $38.77. The stock’s 50-day simple moving average is $35.92 and its 200-day simple moving average is $35.01. The firm has a market capitalization of $8.29 billion, a PE ratio of 25.55, a price-to-earnings-growth ratio of 0.97 and a beta of 1.44.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. The business 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 6.22% and a return on equity of 24.92%. Axalta Coating Systems’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.45 EPS. On average, sell-side analysts forecast that Axalta Coating Systems will post 2.06 EPS for the current fiscal year.

Institutional Trading of Axalta Coating Systems

A number of large investors have recently added to or reduced their stakes in the stock. Signaturefd LLC grew its position in shares of Axalta Coating Systems by 14.1% during the 3rd quarter. Signaturefd LLC now owns 3,599 shares of the specialty chemicals company’s stock valued at $130,000 after acquiring an additional 444 shares during the period. Wedge Capital Management L L P NC raised its stake 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 valued at $3,778,000 after buying an additional 453 shares during the period. O Shaughnessy Asset Management LLC grew its stake in shares of Axalta Coating Systems by 9.0% during the 1st 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. Retirement Systems of Alabama raised its stake in Axalta Coating Systems by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 276,369 shares of the specialty chemicals company’s stock valued at $9,504,000 after acquiring an additional 726 shares during the period. Finally, UMB Bank n.a. boosted its position in Axalta Coating Systems by 90.2% during the third quarter. UMB Bank n.a. now owns 1,546 shares of the specialty chemicals company’s stock worth $56,000 after purchasing an additional 733 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.