Barclays Increases Axalta Coating Systems (NYSE:AXTA) Price Target to $40.00

Axalta Coating Systems (NYSE:AXTA) had its price target upped by Barclays from $38.00 to $40.00 in a research note issued to investors on Thursday, Benzinga reports. Barclays currently has an overweight rating on the specialty chemicals company’s stock.

Other analysts also recently issued research reports about the stock. Wells Fargo & Company lifted their target price on shares of Axalta Coating Systems from $31.00 to $33.00 and gave the company an equal weight rating in a report on Tuesday, January 9th. Mizuho dropped their price objective on Axalta Coating Systems from $40.00 to $38.00 and set a buy rating for the company in a research note on Thursday. Robert W. Baird increased their target price on Axalta Coating Systems from $35.00 to $40.00 and gave the stock an outperform rating in a research note on Thursday. Citigroup raised their target price on Axalta Coating Systems from $38.00 to $40.00 and gave the company a buy rating in a report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Axalta Coating Systems from $35.00 to $38.00 and gave the stock an overweight rating in a research note on Friday, February 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $38.00.

Axalta Coating Systems Stock Performance

NYSE AXTA opened at $35.20 on Thursday. The stock has a fifty day simple moving average of $32.84 and a 200-day simple moving average of $31.88. The company has a current ratio of 2.07, a quick ratio of 1.46 and a debt-to-equity ratio of 1.92. The stock has a market cap of $7.77 billion, a PE ratio of 31.71, a P/E/G ratio of 1.09 and a beta of 1.51. Axalta Coating Systems has a twelve month low of $25.03 and a twelve month high of $35.31.

Axalta Coating Systems (NYSE:AXTA) last announced its earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.08. Axalta Coating Systems had a net margin of 4.77% and a return on equity of 21.82%. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the firm posted $0.35 earnings per share. Axalta Coating Systems’s revenue was up 1.3% compared to the same quarter last year. Equities analysts anticipate that Axalta Coating Systems will post 1.99 earnings per share for the current year.

Institutional Investors Weigh In On Axalta Coating Systems

A number of large investors have recently modified their holdings of AXTA. Victory Capital Management Inc. lifted its position 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 purchasing an additional 5,566,757 shares during the last quarter. Norges Bank acquired a new stake in Axalta Coating Systems in the fourth quarter valued at $82,878,000. Locust Wood Capital Advisers LLC acquired a new stake in Axalta Coating Systems in the fourth quarter valued at $66,346,000. Kinetic Partners Management LP purchased a new stake in Axalta Coating Systems during the 3rd quarter worth about $40,603,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Axalta Coating Systems by 11.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 13,470,860 shares of the specialty chemicals company’s stock worth $362,366,000 after acquiring an additional 1,415,723 shares in the last quarter. 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.