Axalta Coating Systems (NYSE:AXTA) Sets New 12-Month High on Analyst Upgrade

Axalta Coating Systems Ltd. (NYSE:AXTA)’s stock price hit a new 52-week high during mid-day trading on Wednesday after BMO Capital Markets raised their price target on the stock from $46.00 to $48.00. BMO Capital Markets currently has an outperform rating on the stock. Axalta Coating Systems traded as high as $40.53 and last traded at $40.41, with a volume of 243697 shares traded. The stock had previously closed at $39.60.

A number of other equities research analysts have also recently commented on AXTA. Mizuho raised their price target 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. JPMorgan Chase & Co. increased their price target on Axalta Coating Systems from $40.00 to $41.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Barclays lifted their price objective on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Royal Bank of Canada increased their price target on Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Robert W. Baird lifted 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. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.45.

Institutional Trading of Axalta Coating Systems

A number of institutional investors have recently modified their holdings of the company. Plato Investment Management Ltd bought a new position in Axalta Coating Systems in the second quarter worth $30,000. First Horizon Advisors Inc. boosted its stake in shares of Axalta Coating Systems by 35.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company’s stock worth $37,000 after buying an additional 266 shares during the last quarter. True Wealth Design LLC bought a new position in shares of Axalta Coating Systems in the 3rd quarter worth approximately $37,000. GAMMA Investing LLC raised its position in Axalta Coating Systems by 111.5% in the second quarter. GAMMA Investing LLC now owns 1,417 shares of the specialty chemicals company’s stock worth $48,000 after acquiring an additional 747 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in Axalta Coating Systems in the 3rd quarter worth $54,000. 98.28% of the stock is currently owned by hedge funds and other institutional investors.

Axalta Coating Systems Trading Up 0.1 %

The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.42 and a current ratio of 2.00. The stock has a market capitalization of $8.87 billion, a PE ratio of 27.43, a PEG ratio of 0.85 and a beta of 1.43. The stock has a 50-day moving average price of $36.56 and a two-hundred day moving average price of $35.54.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings data on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.32 billion. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. The company’s revenue was up .8% on a year-over-year basis. During the same period last year, the firm posted $0.45 EPS. As a group, equities analysts forecast that Axalta Coating Systems Ltd. will post 2.16 earnings per share for the current year.

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.