KeyCorp Raises Axalta Coating Systems (NYSE:AXTA) Price Target to $40.00

Axalta Coating Systems (NYSE:AXTA) had its price objective hoisted by KeyCorp from $38.00 to $40.00 in a report issued on Thursday, Benzinga reports. KeyCorp currently has an overweight rating on the specialty chemicals company’s stock.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. raised their price objective on shares of Axalta Coating Systems from $35.00 to $38.00 and gave the stock an overweight rating in a research report on Friday, February 9th. Citigroup lifted their price target on Axalta Coating Systems from $38.00 to $40.00 and gave the stock a buy rating in a report on Wednesday, April 10th. UBS Group downgraded Axalta Coating Systems from a buy rating to a neutral rating and lifted their target price for the stock from $35.00 to $36.00 in a report on Monday, January 8th. Mizuho decreased their price target on shares of Axalta Coating Systems from $40.00 to $38.00 and set a buy rating on the stock in a research note on Thursday. Finally, Robert W. Baird lifted their price objective on shares of Axalta Coating Systems from $35.00 to $40.00 and gave the stock an outperform rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $38.00.

Axalta Coating Systems Stock Performance

NYSE:AXTA traded up $0.37 on Thursday, hitting $35.20. The company’s stock had a trading volume of 3,991,263 shares, compared to its average volume of 2,581,191. The company has a current ratio of 2.07, a quick ratio of 1.46 and a debt-to-equity ratio of 1.92. Axalta Coating Systems has a one year low of $25.03 and a one year high of $35.31. The stock has a fifty day moving average of $32.78 and a two-hundred day moving average of $31.82. The firm has a market capitalization of $7.77 billion, a P/E ratio of 31.72, a price-to-earnings-growth ratio of 1.08 and a beta of 1.51.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.08. Axalta Coating Systems had a return on equity of 21.82% and a net margin of 4.77%. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the prior year, the business earned $0.35 EPS. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. Research analysts predict that Axalta Coating Systems will post 1.98 earnings per share for the current year.

Institutional Investors Weigh In On Axalta Coating Systems

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Axalta Coating Systems by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 23,208,795 shares of the specialty chemicals company’s stock worth $788,403,000 after purchasing an additional 322,393 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Axalta Coating Systems by 11.7% during the third quarter. JPMorgan Chase & Co. now owns 13,470,860 shares of the specialty chemicals company’s stock worth $362,366,000 after buying an additional 1,415,723 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Axalta Coating Systems by 1,856.6% during the fourth quarter. Victory Capital Management Inc. now owns 5,866,601 shares of the specialty chemicals company’s stock worth $199,288,000 after buying an additional 5,566,757 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Axalta Coating Systems by 9.0% in the 3rd quarter. Wellington Management Group LLP now owns 4,657,696 shares of the specialty chemicals company’s stock valued at $125,292,000 after acquiring an additional 382,949 shares during the last quarter. Finally, Pzena Investment Management LLC boosted its holdings in shares of Axalta Coating Systems by 2.0% during the 3rd quarter. Pzena Investment Management LLC now owns 3,825,560 shares of the specialty chemicals company’s stock valued at $102,908,000 after acquiring an additional 73,604 shares in the last quarter. 98.28% of the stock is currently owned by institutional investors and hedge funds.

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.