JPMorgan Chase & Co. Raises Axalta Coating Systems (NYSE:AXTA) Price Target to $40.00

Axalta Coating Systems (NYSE:AXTA) had its price target raised by JPMorgan Chase & Co. from $38.00 to $40.00 in a research note released on Thursday, Benzinga reports. They currently have an overweight rating on the specialty chemicals company’s stock.

Several other research analysts also recently commented on the company. Citigroup increased their price objective on Axalta Coating Systems from $38.00 to $40.00 and gave the company a buy rating in a research note on Wednesday, April 10th. Wolfe Research assumed coverage on shares of Axalta Coating Systems in a research note on Friday, March 1st. They issued a peer perform rating on the stock. Barclays upped their price objective on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the company an overweight rating in a research note on Thursday. Wells Fargo & Company raised their target price on shares of Axalta Coating Systems from $31.00 to $33.00 and gave the stock an equal weight rating in a research note on Tuesday, January 9th. Finally, Mizuho dropped their price target on Axalta Coating Systems from $40.00 to $38.00 and set a buy rating for the company in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Axalta Coating Systems currently has an average rating of Moderate Buy and a consensus price target of $38.00.

Axalta Coating Systems Stock Up 1.1 %

Shares of NYSE AXTA opened at $35.20 on Thursday. The firm has a market cap of $7.77 billion, a price-to-earnings ratio of 31.71, a price-to-earnings-growth ratio of 1.09 and a beta of 1.51. The company’s 50-day simple moving average is $32.84 and its 200-day simple moving average is $31.95. The company has a quick ratio of 1.46, a current ratio of 2.07 and a debt-to-equity ratio of 1.92. Axalta Coating Systems has a 52-week low of $25.03 and a 52-week high of $35.31.

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 (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.08. Axalta Coating Systems had a return on equity of 21.82% and a net margin of 4.77%. The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the previous year, the firm posted $0.35 EPS. Axalta Coating Systems’s revenue was up 1.3% compared to the same quarter last year. Equities analysts predict that Axalta Coating Systems will post 1.99 EPS for the current fiscal year.

Institutional Trading of Axalta Coating Systems

Hedge funds and other institutional investors have recently modified their holdings of the business. Fifth Third Bancorp lifted its position in Axalta Coating Systems by 47.7% in the fourth quarter. Fifth Third Bancorp now owns 1,046 shares of the specialty chemicals company’s stock valued at $36,000 after buying an additional 338 shares during the last quarter. TFO Wealth Partners LLC raised its stake 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 valued at $37,000 after acquiring an additional 1,082 shares during the period. Raleigh Capital Management Inc. acquired a new position in shares of Axalta Coating Systems in the 4th quarter worth approximately $48,000. CWM LLC boosted its position 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 acquired a new stake in Axalta Coating Systems in the 4th quarter valued at approximately $88,000. 98.28% of the stock is owned by institutional investors and hedge funds.

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.