Analysts Set Axalta Coating Systems Ltd. (NYSE:AXTA) Price Target at $35.56

Axalta Coating Systems Ltd. (NYSE:AXTA) has received an average recommendation of “Hold” from the nineteen ratings firms that are presently covering the company, Marketbeat reports. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $35.5625.

AXTA has been the subject of a number of analyst reports. Wells Fargo & Company raised their target price on shares of Axalta Coating Systems from $38.00 to $39.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. KeyCorp reaffirmed a “sector weight” rating on shares of Axalta Coating Systems in a research report on Wednesday, October 29th. Citigroup boosted their target price on Axalta Coating Systems from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, December 18th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $30.00 target price (down from $35.00) on shares of Axalta Coating Systems in a research note on Wednesday, November 19th. Finally, JPMorgan Chase & Co. lowered their price target on Axalta Coating Systems from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, October 30th.

Axalta Coating Systems Price Performance

AXTA opened at $34.08 on Friday. Axalta Coating Systems has a 12-month low of $26.28 and a 12-month high of $38.37. The company has a market cap of $7.27 billion, a price-to-earnings ratio of 16.31, a price-to-earnings-growth ratio of 1.37 and a beta of 1.29. The company has a current ratio of 2.20, a quick ratio of 1.59 and a debt-to-equity ratio of 1.45. The stock has a fifty day simple moving average of $31.84 and a two-hundred day simple moving average of $30.21.

Axalta Coating Systems (NYSE:AXTA) last released its earnings results on Tuesday, October 28th. The specialty chemicals company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.03. Axalta Coating Systems had a net margin of 8.81% and a return on equity of 24.92%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the firm earned $0.59 EPS. The company’s revenue was down 2.4% compared to the same quarter last year. Research analysts predict that Axalta Coating Systems will post 2.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Axalta Coating Systems

A number of institutional investors have recently made changes to their positions in AXTA. M&T Bank Corp purchased a new position in Axalta Coating Systems in the 4th quarter worth approximately $224,000. Inscription Capital LLC purchased a new position in shares of Axalta Coating Systems in the fourth quarter worth $342,000. Verdence Capital Advisors LLC lifted its holdings in shares of Axalta Coating Systems by 2.0% during the fourth quarter. Verdence Capital Advisors LLC now owns 17,166 shares of the specialty chemicals company’s stock valued at $555,000 after purchasing an additional 330 shares in the last quarter. UBS Group AG boosted its position in shares of Axalta Coating Systems by 207.4% during the fourth quarter. UBS Group AG now owns 2,902,507 shares of the specialty chemicals company’s stock valued at $93,780,000 after buying an additional 1,958,395 shares during the last quarter. Finally, Chicago Partners Investment Group LLC bought a new stake in Axalta Coating Systems in the 4th quarter worth about $612,000. Hedge funds and other institutional investors own 98.28% of the company’s stock.

About Axalta Coating Systems

Axalta Coating Systems is a global leader in the development, manufacture and sale of liquid and powder coatings. The company’s product portfolio spans refinish coatings for the automotive collision repair market, original equipment manufacturer (OEM) coatings for new vehicle production, and industrial coatings including electrodeposition (E-coat) and powder coatings for a variety of sectors such as architecture, heavy equipment and general industrial applications.

Tracing its roots to the 19th century and rebranded as Axalta following its separation from DuPont Performance Coatings in 2013, the company has built a presence in more than 100 countries.