Mizuho Forecasts Strong Price Appreciation for Axalta Coating Systems (NYSE:AXTA) Stock

Axalta Coating Systems (NYSE:AXTA) had its target price boosted by Mizuho from $42.00 to $43.00 in a research note issued to investors on Thursday, Benzinga reports. Mizuho currently has an outperform rating on the specialty chemicals company’s stock.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada raised their price target on Axalta Coating Systems from $42.00 to $44.00 and gave the company an “outperform” rating in a report on Monday, August 5th. JPMorgan Chase & Co. raised their price target on Axalta Coating Systems from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Barclays raised their price target on Axalta Coating Systems from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. UBS Group cut their price target on Axalta Coating Systems from $39.00 to $38.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Finally, Robert W. Baird raised their price target on Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Axalta Coating Systems currently has an average rating of “Moderate Buy” and a consensus price target of $41.70.

Axalta Coating Systems Stock Performance

NYSE:AXTA opened at $37.98 on Thursday. The company has a current ratio of 2.00, a quick ratio of 1.70 and a debt-to-equity ratio of 1.80. Axalta Coating Systems has a 12-month low of $28.69 and a 12-month high of $38.77. The stock has a 50-day moving average price of $35.97 and a 200 day moving average price of $35.08. The stock has a market capitalization of $8.33 billion, a P/E ratio of 25.66, a P/E/G ratio of 0.97 and a beta of 1.44.

Axalta Coating Systems (NYSE:AXTA) last released its earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.08. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the business posted $0.45 earnings per share. The firm’s revenue was up .8% on a year-over-year basis. Equities research analysts forecast that Axalta Coating Systems will post 2.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Axalta Coating Systems

A number of institutional investors and hedge funds have recently modified their holdings of AXTA. Millennium Management LLC lifted its stake in shares of Axalta Coating Systems by 89.7% during the 2nd quarter. Millennium Management LLC now owns 2,733,703 shares of the specialty chemicals company’s stock worth $93,411,000 after acquiring an additional 1,292,434 shares during the last quarter. Locust Wood Capital Advisers LLC lifted its stake in shares of Axalta Coating Systems by 63.8% during the 1st quarter. Locust Wood Capital Advisers LLC now owns 3,198,290 shares of the specialty chemicals company’s stock worth $109,989,000 after acquiring an additional 1,245,223 shares during the last quarter. Interval Partners LP lifted its stake in shares of Axalta Coating Systems by 716.6% during the 2nd quarter. Interval Partners LP now owns 1,224,961 shares of the specialty chemicals company’s stock worth $41,857,000 after acquiring an additional 1,074,961 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Axalta Coating Systems by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 23,763,601 shares of the specialty chemicals company’s stock worth $817,230,000 after acquiring an additional 554,806 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Axalta Coating Systems by 5.6% during the 2nd quarter. Victory Capital Management Inc. now owns 10,403,246 shares of the specialty chemicals company’s stock worth $355,479,000 after acquiring an additional 550,970 shares during the last quarter. 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.