BMO Capital Markets Increases Axalta Coating Systems (NYSE:AXTA) Price Target to $48.00

Axalta Coating Systems (NYSE:AXTA) had its target price increased by BMO Capital Markets from $46.00 to $48.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an outperform rating on the specialty chemicals company’s stock.

Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. increased their target price on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Robert W. Baird lifted their price objective on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. KeyCorp upped their target price on Axalta Coating Systems from $44.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Royal Bank of Canada lifted their price target on Axalta Coating Systems from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Evercore ISI assumed coverage on Axalta Coating Systems in a research note on Wednesday. They set an “outperform” rating and a $47.00 price objective for the company. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $42.45.

Axalta Coating Systems Stock Performance

Shares of NYSE:AXTA opened at $40.29 on Wednesday. The firm’s 50 day simple moving average is $36.79 and its 200-day simple moving average is $35.64. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.42 and a current ratio of 2.00. Axalta Coating Systems has a one year low of $30.40 and a one year high of $40.91. The firm has a market cap of $8.79 billion, a PE ratio of 27.22, a price-to-earnings-growth ratio of 0.87 and a beta of 1.43.

Axalta Coating Systems (NYSE:AXTA) last issued its earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the company posted $0.45 EPS. Axalta Coating Systems’s revenue was up .8% on a year-over-year basis. As a group, equities analysts predict that Axalta Coating Systems will post 2.16 EPS for the current year.

Hedge Funds Weigh In On Axalta Coating Systems

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Plato Investment Management Ltd acquired a new position in Axalta Coating Systems during the 2nd quarter valued at approximately $30,000. First Horizon Advisors Inc. grew its holdings in shares of Axalta Coating Systems by 35.2% during the third quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 266 shares during the last quarter. True Wealth Design LLC acquired a new position in shares of Axalta Coating Systems in the 3rd quarter valued at $37,000. Millburn Ridgefield Corp purchased a new position in Axalta Coating Systems in the 3rd quarter worth $41,000. Finally, GAMMA Investing LLC lifted its position in Axalta Coating Systems by 111.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,417 shares of the specialty chemicals company’s stock worth $48,000 after acquiring an additional 747 shares during the period. 98.28% of the stock is 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.