Axalta Coating Systems (NYSE:AXTA) Given New $46.00 Price Target at Royal Bank of Canada

Axalta Coating Systems (NYSE:AXTA) had its price objective increased by Royal Bank of Canada from $44.00 to $46.00 in a report published on Friday, Benzinga reports. They currently have an outperform rating on the specialty chemicals company’s stock.

A number of other brokerages have also weighed in on AXTA. Robert W. Baird raised their target price on Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Barclays increased their price objective on Axalta Coating Systems from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday. KeyCorp boosted their price target on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday. UBS Group lowered their target price on Axalta Coating Systems from $39.00 to $38.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $41.70.

Axalta Coating Systems Price Performance

Shares of NYSE AXTA traded up $0.06 during midday trading on Friday, reaching $37.98. 2,857,784 shares of the company traded hands, compared to its average volume of 2,044,568. The stock’s 50-day simple moving average is $35.97 and its 200-day simple moving average is $35.06. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.70 and a current ratio of 2.00. Axalta Coating Systems has a 12 month low of $28.69 and a 12 month high of $38.77. The firm has a market cap of $8.33 billion, a PE ratio of 25.68, a PEG ratio of 0.97 and a beta of 1.44.

Axalta Coating Systems (NYSE:AXTA) last posted its earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. Axalta Coating Systems’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 earnings per share. As a group, equities analysts anticipate that Axalta Coating Systems will post 2.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Plato Investment Management Ltd acquired a new stake in Axalta Coating Systems during the second quarter worth about $30,000. GAMMA Investing LLC increased its stake in Axalta Coating Systems by 111.5% in the second quarter. GAMMA Investing LLC now owns 1,417 shares of the specialty chemicals company’s stock valued at $48,000 after acquiring an additional 747 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in Axalta Coating Systems during the third quarter worth $54,000. UMB Bank n.a. raised its holdings in shares of Axalta Coating Systems by 90.2% during the 3rd quarter. UMB Bank n.a. now owns 1,546 shares of the specialty chemicals company’s stock worth $56,000 after buying an additional 733 shares in the last quarter. Finally, Versant Capital Management Inc bought a new position in Axalta Coating Systems in the second quarter valued at about $71,000. 98.28% of the stock is owned by institutional investors.

Axalta Coating Systems Company Profile

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.