Brokerages Set Axalta Coating Systems Ltd. (NYSE:AXTA) PT at $42.45

Shares of Axalta Coating Systems Ltd. (NYSE:AXTA) have been assigned an average recommendation of “Buy” from the twelve brokerages that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $42.45.

Several analysts have commented on AXTA shares. JPMorgan Chase & Co. upped their target price on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Robert W. Baird raised their target price on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Royal Bank of Canada increased their price target on shares of Axalta Coating Systems from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Barclays raised their target price on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, KeyCorp raised their target price on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st.

Institutional Trading of Axalta Coating Systems

Hedge funds have recently added to or reduced their stakes in the business. Barrow Hanley Mewhinney & Strauss LLC raised its position in Axalta Coating Systems by 0.9% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 15,009,959 shares of the specialty chemicals company’s stock worth $512,890,000 after buying an additional 137,209 shares during the last quarter. Victory Capital Management Inc. grew its stake in Axalta Coating Systems by 5.6% in the 2nd quarter. Victory Capital Management Inc. now owns 10,403,246 shares of the specialty chemicals company’s stock valued at $355,479,000 after acquiring an additional 550,970 shares during the period. State Street Corp grew its stake in Axalta Coating Systems by 0.7% in the 3rd quarter. State Street Corp now owns 6,822,955 shares of the specialty chemicals company’s stock valued at $246,923,000 after acquiring an additional 46,813 shares during the period. Dimensional Fund Advisors LP grew its stake in Axalta Coating Systems by 8.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,771,023 shares of the specialty chemicals company’s stock valued at $128,852,000 after acquiring an additional 302,752 shares during the period. Finally, Geode Capital Management LLC grew its stake in Axalta Coating Systems by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,669,190 shares of the specialty chemicals company’s stock valued at $132,823,000 after acquiring an additional 31,894 shares during the period. 98.28% of the stock is owned by hedge funds and other institutional investors.

Axalta Coating Systems Stock Down 1.5 %

Shares of NYSE:AXTA opened at $40.67 on Friday. The stock’s 50-day moving average price is $37.52 and its two-hundred day moving average price is $35.88. The company has a current ratio of 2.00, a quick ratio of 1.42 and a debt-to-equity ratio of 1.80. Axalta Coating Systems has a 12-month low of $30.40 and a 12-month high of $41.65. The firm has a market cap of $8.87 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 0.87 and a beta of 1.43.

Axalta Coating Systems (NYSE:AXTA) last announced its 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. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the business earned $0.45 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. On average, research analysts forecast that Axalta Coating Systems will post 2.16 EPS for the current year.

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.