Axalta Coating Systems (NYSE:AXTA) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Axalta Coating Systems (NYSE:AXTA) had its price objective upped by Royal Bank of Canada from $44.00 to $46.00 in a research report sent to investors on Friday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the specialty chemicals company’s stock.

Other research analysts also recently issued reports about the stock. UBS Group cut their target price on shares of Axalta Coating Systems from $39.00 to $38.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Robert W. Baird raised their price objective on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Barclays upped their price objective on Axalta Coating Systems from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Friday. JPMorgan Chase & Co. increased their price target on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Finally, Mizuho increased their target price on shares of Axalta Coating Systems from $42.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Axalta Coating Systems has a consensus rating of “Moderate Buy” and a consensus target price of $41.70.

Axalta Coating Systems Price Performance

Shares of AXTA stock opened at $38.08 on Friday. The company has a market capitalization of $8.30 billion, a P/E ratio of 25.73, a P/E/G ratio of 0.94 and a beta of 1.43. The stock has a 50 day moving average of $36.02 and a two-hundred day moving average of $35.15. Axalta Coating Systems has a 12 month low of $28.95 and a 12 month high of $38.77. The company has a current ratio of 2.00, a quick ratio of 1.70 and a debt-to-equity ratio of 1.80.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.08. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the company earned $0.45 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis. As a group, equities analysts expect that Axalta Coating Systems will post 2.1 EPS for the current year.

Hedge Funds Weigh In On Axalta Coating Systems

Hedge funds have recently modified their holdings of the stock. State of Michigan Retirement System boosted its holdings in shares of Axalta Coating Systems by 2.3% in the 1st quarter. State of Michigan Retirement System now owns 54,000 shares of the specialty chemicals company’s stock valued at $1,857,000 after buying an additional 1,200 shares during the last quarter. Maryland State Retirement & Pension System acquired a new stake in Axalta Coating Systems in the 1st quarter valued at about $531,000. Retirement Systems of Alabama increased its position in Axalta Coating Systems by 0.3% during the first quarter. Retirement Systems of Alabama now owns 276,369 shares of the specialty chemicals company’s stock worth $9,504,000 after buying an additional 726 shares during the last quarter. BNP Paribas Financial Markets grew its stake in 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 valued at $14,516,000 after buying an additional 169,434 shares during the last quarter. Finally, Mutual of America Capital Management LLC increased its position in Axalta Coating Systems by 3.4% during the first quarter. Mutual of America Capital Management LLC now owns 209,385 shares of the specialty chemicals company’s stock worth $7,201,000 after acquiring an additional 6,801 shares during the period. Institutional investors own 98.28% of the company’s stock.

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.