Barclays Raises Axalta Coating Systems (NYSE:AXTA) Price Target to $45.00

Axalta Coating Systems (NYSE:AXTA) had its price target lifted by equities researchers at Barclays from $44.00 to $45.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the specialty chemicals company’s stock. Barclays‘s price objective suggests a potential upside of 18.13% from the company’s current price.

AXTA has been the subject of several other reports. Evercore ISI initiated coverage on shares of Axalta Coating Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $47.00 target price for the company. Royal Bank of Canada increased their target price on shares of Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Wolfe Research raised shares of Axalta Coating Systems from a “peer perform” rating to an “outperform” rating and set a $41.00 target price for the company in a report on Friday, January 17th. KeyCorp reissued a “sector weight” rating on shares of Axalta Coating Systems in a report on Tuesday, December 17th. Finally, BMO Capital Markets increased their target price on shares of Axalta Coating Systems from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $43.08.

Axalta Coating Systems Price Performance

NYSE AXTA opened at $38.09 on Wednesday. Axalta Coating Systems has a 52 week low of $30.40 and a 52 week high of $41.65. The firm has a market capitalization of $8.31 billion, a P/E ratio of 25.74, a PEG ratio of 0.74 and a beta of 1.46. The company has a quick ratio of 1.42, a current ratio of 2.00 and a debt-to-equity ratio of 1.80. The company has a 50-day moving average price of $36.46 and a 200-day moving average price of $36.40.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings results on Tuesday, February 4th. The specialty chemicals company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.51 by $0.09. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the firm earned $0.43 EPS. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. Equities research analysts anticipate that Axalta Coating Systems will post 2.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. First Horizon Advisors Inc. boosted its position in shares of Axalta Coating Systems by 35.2% during the 3rd 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 last quarter. Janney Montgomery Scott LLC boosted its position in shares of Axalta Coating Systems by 1.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 23,951 shares of the specialty chemicals company’s stock valued at $820,000 after acquiring an additional 323 shares during the last quarter. Principal Securities Inc. boosted its position in shares of Axalta Coating Systems by 5.5% during the 4th quarter. Principal Securities Inc. now owns 6,378 shares of the specialty chemicals company’s stock valued at $218,000 after acquiring an additional 332 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Axalta Coating Systems by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 6,744 shares of the specialty chemicals company’s stock valued at $231,000 after acquiring an additional 334 shares during the last quarter. Finally, Optas LLC lifted its position in Axalta Coating Systems by 7.3% in the fourth quarter. Optas LLC now owns 6,024 shares of the specialty chemicals company’s stock worth $206,000 after buying an additional 412 shares during the last quarter. 98.28% of the stock is currently owned by 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.