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

Axalta Coating Systems (NYSE:AXTA) had its target price increased by equities researchers at BMO Capital Markets from $42.00 to $45.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the specialty chemicals company’s stock. BMO Capital Markets’ target price points to a potential upside of 27.84% from the company’s current price.

Other analysts have also issued research reports about the company. Wells Fargo & Company upped their target price on Axalta Coating Systems from $31.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 9th. Mizuho dropped their price objective on Axalta Coating Systems from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday. 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 note on Thursday. UBS Group cut shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and increased their price target for the company from $35.00 to $36.00 in a research report on Monday, January 8th. Finally, Wolfe Research initiated coverage on shares of Axalta Coating Systems in a research report on Friday, March 1st. They issued a “peer perform” rating on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Axalta Coating Systems has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

Axalta Coating Systems Price Performance

Shares of NYSE:AXTA traded up $0.37 on Thursday, hitting $35.20. The company’s stock had a trading volume of 3,991,263 shares, compared to its average volume of 2,581,191. The company has a 50-day simple moving average of $32.78 and a 200 day simple moving average of $31.82. The company has a market capitalization of $7.77 billion, a PE ratio of 31.72, a PEG ratio of 1.08 and a beta of 1.51. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.07 and a quick ratio of 1.46. Axalta Coating Systems has a 1 year low of $25.03 and a 1 year high of $35.31.

Axalta Coating Systems (NYSE:AXTA) last posted 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. Axalta Coating Systems had a net margin of 4.77% and a return on equity of 21.82%. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter last year, the company posted $0.35 EPS. The business’s quarterly revenue was up 1.3% on a year-over-year basis. Sell-side analysts forecast that Axalta Coating Systems will post 1.98 EPS for the current fiscal year.

Institutional Trading of Axalta Coating Systems

Large investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its stake in shares of Axalta Coating Systems by 9.0% during the 3rd quarter. Wellington Management Group LLP now owns 4,657,696 shares of the specialty chemicals company’s stock worth $125,292,000 after acquiring an additional 382,949 shares during the last quarter. Hawk Ridge Capital Management LP increased its holdings in Axalta Coating Systems by 49.3% in the 3rd quarter. Hawk Ridge Capital Management LP now owns 2,952,198 shares of the specialty chemicals company’s stock worth $79,414,000 after acquiring an additional 974,973 shares in the last quarter. JPMorgan Chase & Co. raised its stake 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 worth $362,366,000 after acquiring an additional 1,415,723 shares during the period. The Manufacturers Life Insurance Company lifted its holdings 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 valued at $71,130,000 after purchasing an additional 272,455 shares in the last quarter. Finally, Prospector Partners LLC increased its stake in shares of 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 worth $8,714,000 after purchasing an additional 29,930 shares in the last quarter. 98.28% of the stock is currently owned by 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.