Axalta Coating Systems (NYSE:AXTA) Price Target Raised to $48.00 at BMO Capital Markets

Axalta Coating Systems (NYSE:AXTA) had its price target hoisted by BMO Capital Markets from $46.00 to $48.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the specialty chemicals company’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 18.05% from the stock’s previous close.

A number of other brokerages have also recently issued reports on AXTA. Barclays lifted their target price on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. KeyCorp upped their target price on Axalta Coating Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. raised their price target on Axalta Coating Systems from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Robert W. Baird upped their price objective on Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada lifted their price objective on Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a research 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $42.45.

Axalta Coating Systems Stock Performance

NYSE AXTA opened at $40.66 on Wednesday. The business has a 50 day moving average price of $36.56 and a 200 day moving average price of $35.54. The company has a market capitalization of $8.87 billion, a P/E ratio of 27.47, a PEG ratio of 0.85 and a beta of 1.43. Axalta Coating Systems has a 1-year low of $30.40 and a 1-year high of $40.91. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.00 and a quick ratio of 1.42.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the business posted $0.45 earnings per share. Sell-side analysts expect that Axalta Coating Systems will post 2.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Axalta Coating Systems

Large investors have recently bought and sold shares of the stock. Plato Investment Management Ltd purchased a new stake in shares of Axalta Coating Systems during the 2nd quarter valued at $30,000. First Horizon Advisors Inc. grew its position in Axalta Coating Systems by 35.2% during the third quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company’s stock valued at $37,000 after acquiring an additional 266 shares during the period. True Wealth Design LLC purchased a new stake in Axalta Coating Systems during the third quarter valued at about $37,000. GAMMA Investing LLC increased its stake in Axalta Coating Systems by 111.5% during the second quarter. GAMMA Investing LLC now owns 1,417 shares of the specialty chemicals company’s stock worth $48,000 after acquiring an additional 747 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Axalta Coating Systems in the 3rd quarter worth about $54,000. Hedge funds and other institutional investors own 98.28% of the company’s stock.

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.