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

Axalta Coating Systems (NYSE:AXTA) had its target price upped by KeyCorp from $38.00 to $40.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an overweight rating on the specialty chemicals company’s stock.

AXTA has been the topic of several other research reports. Barclays upped their target price on Axalta Coating Systems from $38.00 to $40.00 and gave the stock an overweight rating in a report on Thursday. UBS Group cut Axalta Coating Systems from a buy rating to a neutral rating and upped their price objective for the stock from $35.00 to $36.00 in a research note on Monday, January 8th. JPMorgan Chase & Co. raised their target price on shares of Axalta Coating Systems from $35.00 to $38.00 and gave the company an overweight rating in a research note on Friday, February 9th. Citigroup upped their price target on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company lifted their price objective on shares of Axalta Coating Systems from $31.00 to $33.00 and gave the company an equal weight rating in a research report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $38.00.

Axalta Coating Systems Price Performance

Shares of AXTA opened at $35.20 on Thursday. The company has a 50 day moving average of $32.84 and a 200-day moving average of $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. The stock has a market capitalization of $7.77 billion, a P/E ratio of 31.71, a P/E/G ratio of 1.09 and a beta of 1.51. Axalta Coating Systems has a twelve month low of $25.03 and a twelve month high of $35.31.

Axalta Coating Systems (NYSE:AXTA) last released its earnings results 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. Axalta Coating Systems had a net margin of 4.77% and a return on equity of 21.82%. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the firm earned $0.35 earnings per share. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, equities research analysts forecast that Axalta Coating Systems will post 1.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in shares of Axalta Coating Systems by 1,856.6% during 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 in the last quarter. Norges Bank acquired a new stake in Axalta Coating Systems in the 4th quarter worth about $82,878,000. Locust Wood Capital Advisers LLC bought a new stake in Axalta Coating Systems in the 4th quarter valued at about $66,346,000. Kinetic Partners Management LP acquired a new position in shares of Axalta Coating Systems during the 3rd quarter worth approximately $40,603,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Axalta Coating Systems by 11.7% during the third quarter. JPMorgan Chase & Co. now owns 13,470,860 shares of the specialty chemicals company’s stock worth $362,366,000 after purchasing an additional 1,415,723 shares during the period. 98.28% of the stock is owned by institutional investors and hedge funds.

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.