Axalta Coating Systems (NYSE:AXTA) PT Raised to $40.00

Axalta Coating Systems (NYSE:AXTA) had its price target upped by equities researchers at JPMorgan Chase & Co. from $38.00 to $40.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 14.55% from the stock’s current price.

AXTA has been the topic of several other research reports. Barclays lifted their target price on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday. KeyCorp lifted their price target on Axalta Coating Systems from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday. Wolfe Research started coverage on Axalta Coating Systems in a research note on Friday, March 1st. They issued a “peer perform” rating for the company. BMO Capital Markets lifted their target price on Axalta Coating Systems from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Wells Fargo & Company increased their price target on shares of Axalta Coating Systems from $31.00 to $33.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.54.

Axalta Coating Systems Trading Up 2.1 %

Shares of NYSE:AXTA traded up $0.71 during mid-day trading on Thursday, hitting $34.92. The company had a trading volume of 1,360,708 shares, compared to its average volume of 2,081,084. The company has a market capitalization of $7.70 billion, a PE ratio of 29.13, a price-to-earnings-growth ratio of 1.02 and a beta of 1.51. Axalta Coating Systems has a one year low of $25.03 and a one year high of $35.21. The firm has a fifty day moving average price of $32.72 and a 200 day moving average price of $31.80. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.98 and a quick ratio of 1.46.

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 for the quarter, beating the consensus estimate of $0.40 by $0.08. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Axalta Coating Systems had a return on equity of 20.70% and a net margin of 5.16%. The business’s revenue was up 1.3% on a year-over-year basis. During the same period last year, the business earned $0.35 EPS. As a group, research analysts forecast that Axalta Coating Systems will post 1.88 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Axalta Coating Systems by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 23,208,795 shares of the specialty chemicals company’s stock worth $788,403,000 after acquiring an additional 322,393 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Axalta Coating Systems by 11.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 13,470,860 shares of the specialty chemicals company’s stock valued at $362,366,000 after acquiring an additional 1,415,723 shares during the period. Victory Capital Management Inc. grew its position in Axalta Coating Systems by 1,856.6% during the 4th quarter. Victory Capital Management Inc. now owns 5,866,601 shares of the specialty chemicals company’s stock worth $199,288,000 after acquiring an additional 5,566,757 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Axalta Coating Systems by 9.0% in the third quarter. Wellington Management Group LLP now owns 4,657,696 shares of the specialty chemicals company’s stock worth $125,292,000 after buying an additional 382,949 shares during the period. Finally, Pzena Investment Management LLC raised its holdings in Axalta Coating Systems by 2.0% during the 3rd quarter. Pzena Investment Management LLC now owns 3,825,560 shares of the specialty chemicals company’s stock valued at $102,908,000 after buying an additional 73,604 shares during the last quarter. 98.28% of the stock is currently owned by hedge funds and other institutional investors.

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.