BMO Capital Markets Issues Positive Forecast for Axalta Coating Systems (NYSE:AXTA) Stock Price

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

Other research analysts have also issued research reports about the company. Robert W. Baird boosted their price target on Axalta Coating Systems from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Barclays upped their price objective 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. Evercore ISI assumed coverage on shares of Axalta Coating Systems in a research report on Wednesday. They issued an “outperform” rating and a $47.00 target price for the company. Mizuho upped their price target on shares of Axalta Coating Systems from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada increased their price objective 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. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $42.45.

Axalta Coating Systems Stock Down 0.9 %

AXTA stock opened at $40.30 on Wednesday. The stock has a market cap of $8.79 billion, a PE ratio of 27.23, a price-to-earnings-growth ratio of 0.87 and a beta of 1.43. The firm’s 50-day simple moving average is $36.68 and its 200 day simple moving average is $35.58. Axalta Coating Systems has a fifty-two week low of $30.40 and a fifty-two week high of $40.91. The company has a quick ratio of 1.42, a current ratio of 2.00 and a debt-to-equity ratio of 1.80.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.51 by $0.08. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates 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 revenue was up .8% compared to the same quarter last year. During the same quarter last year, the business earned $0.45 earnings per share. As a group, sell-side analysts predict that Axalta Coating Systems will post 2.16 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Plato Investment Management Ltd purchased a new position in Axalta Coating Systems in the 2nd quarter worth about $30,000. First Horizon Advisors Inc. boosted its holdings in shares of Axalta Coating Systems by 35.2% in the third quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company’s stock worth $37,000 after buying an additional 266 shares during the period. True Wealth Design LLC purchased a new position in shares of Axalta Coating Systems in the third quarter worth approximately $37,000. Millburn Ridgefield Corp acquired a new stake in shares of Axalta Coating Systems during the third quarter valued at approximately $41,000. Finally, GAMMA Investing LLC grew 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 purchasing an additional 747 shares in the last quarter. Institutional investors and hedge funds own 98.28% of the company’s stock.

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.