Barclays Raises Axalta Coating Systems (NYSE:AXTA) Price Target to $40.00

Axalta Coating Systems (NYSE:AXTA) had its price target upped by analysts at Barclays from $38.00 to $40.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the specialty chemicals company’s stock. Barclays‘s target price would indicate a potential upside of 13.64% from the company’s current price.

AXTA has been the subject of a number of other reports. Citigroup increased their price objective on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. increased their price target on Axalta Coating Systems from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Wolfe Research initiated coverage on Axalta Coating Systems in a research report on Friday, March 1st. They issued a “peer perform” rating on the stock. Mizuho cut their target price on Axalta Coating Systems from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Wells Fargo & Company boosted their price target on Axalta Coating Systems from $31.00 to $33.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.00.

Axalta Coating Systems Stock Performance

NYSE AXTA traded up $0.37 on Thursday, hitting $35.20. 3,991,263 shares of the company traded hands, compared to its average volume of 2,581,191. The business’s 50 day moving average price is $32.78 and its 200-day moving average price is $31.82. Axalta Coating Systems has a 52-week low of $25.03 and a 52-week high of $35.31. The company has a current ratio of 2.07, a quick ratio of 1.46 and a debt-to-equity ratio of 1.92. The company has a market capitalization of $7.77 billion, a price-to-earnings ratio of 31.72, a P/E/G ratio of 1.08 and a beta of 1.51.

Axalta Coating Systems (NYSE:AXTA) last posted 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. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Axalta Coating Systems had a return on equity of 21.82% and a net margin of 4.77%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.35 EPS. Equities analysts expect that Axalta Coating Systems will post 1.98 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp boosted its stake in Axalta Coating Systems by 47.7% during 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 period. TFO Wealth Partners LLC lifted its holdings in shares of Axalta Coating Systems by 12,022.2% in the 4th 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 during the last quarter. Raleigh Capital Management Inc. purchased a new position in shares of Axalta Coating Systems during the 4th quarter worth about $48,000. CWM LLC boosted its stake 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 worth $67,000 after purchasing an additional 649 shares during the period. Finally, Kapitalo Investimentos Ltda bought a new position in Axalta Coating Systems during the 4th quarter valued at about $88,000. Hedge funds and other 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.