Axalta Coating Systems (NYSE:AXTA) Given New $42.00 Price Target at Royal Bank of Canada

Axalta Coating Systems (NYSE:AXTA) had its price objective raised by stock analysts at Royal Bank of Canada from $39.00 to $42.00 in a report released on Friday, Benzinga reports. The firm presently has an “outperform” rating on the specialty chemicals company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 19.32% from the stock’s previous close.

AXTA has been the subject of a number of other reports. BMO Capital Markets increased their price target on Axalta Coating Systems from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday. JPMorgan Chase & Co. raised their target price on Axalta Coating Systems from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday. KeyCorp boosted their price target on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday. UBS Group lowered shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and raised their price objective for the company from $35.00 to $36.00 in a research report on Monday, January 8th. Finally, Robert W. Baird boosted their target price on shares of Axalta Coating Systems from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday. One equities research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.00.

Axalta Coating Systems Price Performance

Shares of AXTA opened at $35.20 on Friday. The firm has a market capitalization of $7.77 billion, a price-to-earnings ratio of 31.71, a price-to-earnings-growth ratio of 1.08 and a beta of 1.51. The stock’s fifty day moving average is $32.84 and its 200-day moving average is $31.88. Axalta Coating Systems has a one year low of $25.03 and a one year high of $35.31. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.46 and a current ratio of 2.07.

Axalta Coating Systems (NYSE:AXTA) last released its earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 EPS for the quarter, beating the consensus estimate 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 net margin of 4.77% and a return on equity of 21.82%. Axalta Coating Systems’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the company earned $0.35 EPS. Equities analysts anticipate that Axalta Coating Systems will post 1.98 EPS for the current year.

Hedge Funds Weigh In On Axalta Coating Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in shares of Axalta Coating Systems by 1,856.6% in the fourth quarter. Victory Capital Management Inc. now owns 5,866,601 shares of the specialty chemicals company’s stock worth $199,288,000 after buying an additional 5,566,757 shares during the period. Norges Bank acquired a new stake in Axalta Coating Systems during the 4th quarter worth about $82,878,000. Locust Wood Capital Advisers LLC purchased a new position in Axalta Coating Systems during the 4th quarter valued at about $66,346,000. Kinetic Partners Management LP acquired a new position in shares of Axalta Coating Systems in the 3rd quarter valued at about $40,603,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Axalta Coating Systems by 11.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,470,860 shares of the specialty chemicals company’s stock valued at $362,366,000 after purchasing an additional 1,415,723 shares during the period. 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.