Brokerages Set Axalta Coating Systems Ltd. (NYSE:AXTA) Target Price at $38.23

Shares of Axalta Coating Systems Ltd. (NYSE:AXTA) have been assigned a consensus rating of “Moderate Buy” from the thirteen analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $38.23.

A number of research analysts recently commented on the stock. Robert W. Baird increased their price target on shares of Axalta Coating Systems from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Wells Fargo & Company raised shares of Axalta Coating Systems from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 11th. JPMorgan Chase & Co. raised their price objective on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Royal Bank of Canada raised their price objective on shares of Axalta Coating Systems from $39.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Finally, KeyCorp raised their price objective on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd.

Hedge Funds Weigh In On Axalta Coating Systems

Several institutional investors have recently bought and sold shares of the business. Bank of Nova Scotia purchased a new position in Axalta Coating Systems in the fourth quarter worth $1,736,000. Wellington Management Group LLP lifted its stake in shares of Axalta Coating Systems by 9.0% during the third quarter. Wellington Management Group LLP now owns 4,657,696 shares of the specialty chemicals company’s stock worth $125,292,000 after buying an additional 382,949 shares during the period. Assetmark Inc. lifted its stake in shares of Axalta Coating Systems by 13.0% during the fourth quarter. Assetmark Inc. now owns 251,081 shares of the specialty chemicals company’s stock worth $8,529,000 after buying an additional 28,836 shares during the period. Trexquant Investment LP acquired a new stake in shares of Axalta Coating Systems during the fourth quarter worth $9,385,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Axalta Coating Systems during the fourth quarter worth $1,413,000. 98.28% of the stock is owned by hedge funds and other institutional investors.

Axalta Coating Systems Stock Up 0.6 %

Shares of NYSE:AXTA opened at $34.15 on Thursday. The company has a current ratio of 2.07, a quick ratio of 1.51 and a debt-to-equity ratio of 1.92. Axalta Coating Systems has a 12 month low of $25.03 and a 12 month high of $36.98. The company has a 50-day moving average price of $34.81 and a 200 day moving average price of $33.50. The company has a market cap of $7.54 billion, a price-to-earnings ratio of 30.77, a PEG ratio of 0.85 and a beta of 1.44.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the firm earned $0.35 EPS. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, equities research analysts predict that Axalta Coating Systems will post 1.99 earnings per share for the current year.

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.