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

Axalta Coating Systems (NYSE:AXTA) had its price objective increased by BMO Capital Markets from $42.00 to $45.00 in a research note published on Thursday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the specialty chemicals company’s stock.

AXTA has been the topic of a number of other reports. Robert W. Baird raised their price objective on shares of Axalta Coating Systems from $35.00 to $40.00 and gave the stock an outperform rating in a report on Thursday. JPMorgan Chase & Co. lifted their price target on Axalta Coating Systems from $35.00 to $38.00 and gave the company an overweight rating in a research note on Friday, February 9th. Citigroup upped their price objective on Axalta Coating Systems from $38.00 to $40.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. Mizuho dropped their target price on Axalta Coating Systems from $40.00 to $38.00 and set a buy rating on the stock in a research report on Thursday. Finally, Barclays upped their price target on Axalta Coating Systems from $38.00 to $40.00 and gave the stock an overweight rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $38.00.

Axalta Coating Systems Stock Up 1.1 %

NYSE:AXTA opened at $35.20 on Thursday. Axalta Coating Systems has a 1 year low of $25.03 and a 1 year high of $35.31. The stock has a 50-day moving average price of $32.84 and a two-hundred day moving average price of $31.95. The stock 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 current ratio of 2.07, a quick ratio of 1.46 and a debt-to-equity ratio of 1.92.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings data 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. 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 analyst estimates of $1.29 billion. During the same period in the previous year, the firm earned $0.35 EPS. Axalta Coating Systems’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, equities analysts expect that Axalta Coating Systems will post 1.99 earnings per share for the current year.

Hedge Funds Weigh In On Axalta Coating Systems

A number of institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in shares of Axalta Coating Systems by 9.0% in the 3rd quarter. Wellington Management Group LLP now owns 4,657,696 shares of the specialty chemicals company’s stock valued at $125,292,000 after acquiring an additional 382,949 shares during the period. Hawk Ridge Capital Management LP grew its holdings in Axalta Coating Systems by 49.3% during the third quarter. Hawk Ridge Capital Management LP now owns 2,952,198 shares of the specialty chemicals company’s stock worth $79,414,000 after purchasing an additional 974,973 shares during the period. JPMorgan Chase & Co. grew its holdings in Axalta Coating Systems by 11.7% during the third quarter. JPMorgan Chase & Co. now owns 13,470,860 shares of the specialty chemicals company’s stock worth $362,366,000 after purchasing an additional 1,415,723 shares during the period. The Manufacturers Life Insurance Company increased its position in Axalta Coating Systems by 11.5% during the third quarter. The Manufacturers Life Insurance Company now owns 2,644,246 shares of the specialty chemicals company’s stock worth $71,130,000 after buying an additional 272,455 shares during the last quarter. Finally, Prospector Partners LLC raised its stake in Axalta Coating Systems by 10.2% in the third quarter. Prospector Partners LLC now owns 323,930 shares of the specialty chemicals company’s stock valued at $8,714,000 after buying an additional 29,930 shares during the period. 98.28% of the stock is currently owned by institutional investors and hedge funds.

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.