Axalta Coating Systems (NYSE:AXTA) Given New $40.00 Price Target at KeyCorp

Axalta Coating Systems (NYSE:AXTA) had its target price increased by equities researchers at KeyCorp from $38.00 to $40.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the specialty chemicals company’s stock. KeyCorp’s price objective indicates a potential upside of 13.64% from the stock’s current price.

Other analysts have also recently issued reports about the company. Robert W. Baird raised their target price on Axalta Coating Systems from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday. Mizuho decreased their price target on Axalta Coating Systems from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday. Citigroup lifted their price target on Axalta Coating Systems from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Barclays raised their target price on Axalta Coating Systems from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, UBS Group downgraded shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and upped their price target for the company from $35.00 to $36.00 in a report on Monday, January 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Axalta Coating Systems Stock Up 1.1 %

Shares of NYSE:AXTA traded up $0.37 during midday trading on Thursday, reaching $35.20. The company had a trading volume of 3,991,263 shares, compared to its average volume of 2,581,191. Axalta Coating Systems has a one year low of $25.03 and a one year high of $35.31. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.07 and a quick ratio of 1.46. The stock has a market capitalization of $7.77 billion, a P/E ratio of 31.72, a PEG ratio of 1.08 and a beta of 1.51. The stock’s fifty day moving average price is $32.78 and its 200-day moving average price is $31.82.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings data on Wednesday, May 1st. The specialty chemicals company reported $0.48 earnings per share 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 business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the firm earned $0.35 EPS. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. Equities research analysts expect that Axalta Coating Systems will post 1.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Axalta Coating Systems

Several institutional investors and hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp increased its holdings in Axalta Coating Systems by 47.7% in the fourth quarter. Fifth Third Bancorp now owns 1,046 shares of the specialty chemicals company’s stock worth $36,000 after buying an additional 338 shares during the last quarter. TFO Wealth Partners LLC grew its position in Axalta Coating Systems by 12,022.2% in the fourth quarter. TFO Wealth Partners LLC now owns 1,091 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 1,082 shares in the last quarter. Raleigh Capital Management Inc. acquired a new position in shares of Axalta Coating Systems during the 4th quarter worth $48,000. CWM LLC raised its holdings in shares of Axalta Coating Systems by 35.6% during the 3rd quarter. CWM LLC now owns 2,474 shares of the specialty chemicals company’s stock valued at $67,000 after purchasing an additional 649 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Axalta Coating Systems in the 4th quarter valued at $88,000. 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.