Axalta Coating Systems (NYSE:AXTA) Price Target Raised to $42.00 at Barclays

Axalta Coating Systems (NYSE:AXTA) had its target price boosted by Barclays from $40.00 to $42.00 in a report published on Friday, Benzinga reports. The firm currently has an overweight rating on the specialty chemicals company’s stock.

Other equities research analysts also recently issued reports about the stock. Citigroup lifted their price target on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the stock a buy rating in a report on Wednesday, April 10th. Mizuho boosted their target price on shares of Axalta Coating Systems from $38.00 to $41.00 and gave the stock a buy rating in a research report on Tuesday, May 21st. Wells Fargo & Company raised shares of Axalta Coating Systems from a hold rating to a strong-buy rating in a research report on Tuesday, June 11th. JPMorgan Chase & Co. upped their price target on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the company an overweight rating in a report on Thursday, May 2nd. Finally, KeyCorp boosted their target price on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the company an overweight rating in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $39.91.

Axalta Coating Systems Price Performance

Shares of AXTA traded down $1.43 during trading hours on Friday, reaching $35.21. The company had a trading volume of 2,428,282 shares, compared to its average volume of 2,161,700. The firm has a 50 day simple moving average of $35.02 and a 200-day simple moving average of $33.74. The company has a current ratio of 2.26, a quick ratio of 1.51 and a debt-to-equity ratio of 1.97. The company has a market capitalization of $7.77 billion, a price-to-earnings ratio of 31.72, a PEG ratio of 0.91 and a beta of 1.44. Axalta Coating Systems has a 12-month low of $25.03 and a 12-month high of $37.49.

Axalta Coating Systems (NYSE:AXTA) last posted its earnings results on Thursday, August 1st. The specialty chemicals company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.06. Axalta Coating Systems had a net margin of 5.69% and a return on equity of 24.28%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the firm posted $0.35 EPS. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. Research analysts expect that Axalta Coating Systems will post 2.05 earnings per share for the current year.

Institutional Investors Weigh In On Axalta Coating Systems

Several institutional investors have recently bought and sold shares of AXTA. Victory Capital Management Inc. increased its holdings in shares of 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. Norges Bank bought a new stake in shares of Axalta Coating Systems during the 4th quarter valued at $82,878,000. Locust Wood Capital Advisers LLC bought a new stake in shares of Axalta Coating Systems during the 4th quarter valued at $66,346,000. Vaughan Nelson Investment Management L.P. lifted its position in shares of Axalta Coating Systems by 39.9% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,216,463 shares of the specialty chemicals company’s stock valued at $75,293,000 after acquiring an additional 631,975 shares during the period. Finally, Federated Hermes Inc. lifted its position in shares of Axalta Coating Systems by 2,001.1% during the 4th quarter. Federated Hermes Inc. now owns 622,797 shares of the specialty chemicals company’s stock valued at $21,156,000 after acquiring an additional 593,156 shares during the period. Institutional investors own 98.28% of the company’s stock.

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.