Robert W. Baird Boosts Axalta Coating Systems (NYSE:AXTA) Price Target to $40.00

Axalta Coating Systems (NYSE:AXTA) had its price objective raised by analysts at Robert W. Baird from $35.00 to $40.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the specialty chemicals company’s stock. Robert W. Baird’s target price would indicate a potential upside of 16.92% from the company’s current price.

A number of other analysts also recently issued reports on AXTA. Citigroup lifted their price objective on Axalta Coating Systems from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Wolfe Research assumed coverage on Axalta Coating Systems in a research note on Friday, March 1st. They issued a “peer perform” rating on the stock. Mizuho dropped their target price on Axalta Coating Systems from $40.00 to $38.00 and set a “buy” rating for the company in a report on Thursday. JPMorgan Chase & Co. lifted their target price on Axalta Coating Systems from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Finally, UBS Group cut Axalta Coating Systems from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $35.00 to $36.00 in a report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.27.

Axalta Coating Systems Stock Up 8.8 %

Shares of AXTA opened at $34.21 on Thursday. The business’s 50 day moving average is $32.72 and its 200 day moving average is $31.80. The company has a market capitalization of $7.55 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 1.02 and a beta of 1.51. Axalta Coating Systems has a 12-month low of $25.03 and a 12-month high of $34.94. The company has a current ratio of 1.98, a quick ratio of 1.46 and a debt-to-equity ratio of 1.96.

Axalta Coating Systems (NYSE:AXTA) last issued its earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.08. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. Axalta Coating Systems had a return on equity of 20.70% and a net margin of 5.16%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the company earned $0.35 EPS. Research analysts expect that Axalta Coating Systems will post 1.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Axalta Coating Systems

Several hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its position in shares of Axalta Coating Systems by 67.1% in the 1st quarter. BNP Paribas Financial Markets now owns 422,107 shares of the specialty chemicals company’s stock worth $14,516,000 after acquiring an additional 169,434 shares in the last quarter. Retirement Systems of Alabama raised its position in shares of Axalta Coating Systems by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 276,369 shares of the specialty chemicals company’s stock worth $9,504,000 after acquiring an additional 726 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Axalta Coating Systems by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 829,262 shares of the specialty chemicals company’s stock worth $28,518,000 after acquiring an additional 19,720 shares in the last quarter. New York State Teachers Retirement System raised its position in shares of Axalta Coating Systems by 2.8% in the 1st quarter. New York State Teachers Retirement System now owns 36,100 shares of the specialty chemicals company’s stock worth $1,241,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Simplicity Wealth LLC bought a new position in shares of Axalta Coating Systems in the 1st quarter worth $323,000. 98.28% of the stock is currently owned by hedge funds and other 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.