Barclays Boosts Axalta Coating Systems (NYSE:AXTA) Price Target to $42.00

Axalta Coating Systems (NYSE:AXTA) had its price objective lifted by Barclays from $40.00 to $42.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the specialty chemicals company’s stock.

Several other equities research analysts have also commented on the stock. BMO Capital Markets upped their price target on shares of Axalta Coating Systems from $42.00 to $45.00 and gave the company an outperform rating in a report on Thursday, May 2nd. Royal Bank of Canada upped their price target on shares of Axalta Coating Systems from $39.00 to $42.00 and gave the company an outperform rating in a report on Friday, May 3rd. UBS Group lowered their price target on shares of Axalta Coating Systems from $39.00 to $38.00 and set a neutral rating on the stock in a report on Tuesday, July 9th. Robert W. Baird upped their price target on shares of Axalta Coating Systems from $35.00 to $40.00 and gave the company an outperform rating in a report on Thursday, May 2nd. Finally, Citigroup upped their price target on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the company a buy rating in a report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $39.91.

Axalta Coating Systems Stock Performance

Shares of AXTA traded down $1.43 during trading hours on Friday, reaching $35.21. 2,428,282 shares of the company traded hands, compared to its average volume of 2,161,700. The stock has a market capitalization of $7.77 billion, a P/E ratio of 31.72, a P/E/G ratio of 0.91 and a beta of 1.44. The company has a quick ratio of 1.51, a current ratio of 2.26 and a debt-to-equity ratio of 1.97. Axalta Coating Systems has a 12-month low of $25.03 and a 12-month high of $37.49. The business has a fifty day moving average price of $35.02 and a 200-day moving average price of $33.74.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings data on Thursday, August 1st. The specialty chemicals company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. Axalta Coating Systems had a net margin of 5.69% and a return on equity of 24.28%. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.35 earnings per share. Equities analysts anticipate that Axalta Coating Systems will post 2.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Axalta Coating Systems by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 23,763,601 shares of the specialty chemicals company’s stock valued at $817,230,000 after acquiring an additional 554,806 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Axalta Coating Systems by 1,856.6% in the 4th quarter. Victory Capital Management Inc. now owns 5,866,601 shares of the specialty chemicals company’s stock valued at $199,288,000 after acquiring an additional 5,566,757 shares during the last quarter. Locust Wood Capital Advisers LLC raised its holdings in Axalta Coating Systems by 63.8% in the 1st quarter. Locust Wood Capital Advisers LLC now owns 3,198,290 shares of the specialty chemicals company’s stock valued at $109,989,000 after acquiring an additional 1,245,223 shares during the last quarter. Norges Bank acquired a new stake in Axalta Coating Systems in the 4th quarter valued at about $82,878,000. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in Axalta Coating Systems by 39.9% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,216,463 shares of the specialty chemicals company’s stock valued at $75,293,000 after acquiring an additional 631,975 shares during the last quarter. Institutional investors and hedge funds 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.