Robert W. Baird Raises Axalta Coating Systems (NYSE:AXTA) Price Target to $40.00

Axalta Coating Systems (NYSE:AXTA) had its price objective raised by Robert W. Baird from $35.00 to $40.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have an outperform rating on the specialty chemicals company’s stock.

A number of other research analysts also recently weighed in on AXTA. Wells Fargo & Company upped their price target on 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. Wolfe Research began coverage on Axalta Coating Systems in a report on Friday, March 1st. They issued a peer perform rating on the stock. Citigroup boosted their price target on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the company a buy rating in a research note on Wednesday, April 10th. 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 note on Monday, January 8th. Finally, Mizuho decreased their target price on shares of Axalta Coating Systems from $40.00 to $38.00 and set a buy rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $38.00.

Axalta Coating Systems Stock Performance

Shares of AXTA stock opened at $35.20 on Thursday. The firm has a 50 day moving average of $32.84 and a 200-day moving average of $31.95. The company 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 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 results on Wednesday, May 1st. The specialty chemicals company reported $0.48 EPS for the quarter, topping 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 analysts’ expectations of $1.29 billion. During the same period last year, the company posted $0.35 earnings per share. The business’s quarterly revenue was up 1.3% on a year-over-year basis. On average, equities analysts forecast that Axalta Coating Systems will post 1.99 earnings per share for the current year.

Institutional Trading of Axalta Coating Systems

A number of institutional investors and hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP purchased a new position in Axalta Coating Systems in the first quarter worth $877,000. Mutual of America Capital Management LLC boosted its holdings in shares of Axalta Coating Systems by 3.4% in the 1st quarter. Mutual of America Capital Management LLC now owns 209,385 shares of the specialty chemicals company’s stock worth $7,201,000 after buying an additional 6,801 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Axalta Coating Systems by 67.1% in the 1st quarter. BNP Paribas Financial Markets now owns 422,107 shares of the specialty chemicals company’s stock worth $14,516,000 after buying an additional 169,434 shares during the last quarter. Retirement Systems of Alabama increased its holdings in Axalta Coating Systems by 0.3% during the first quarter. Retirement Systems of Alabama now owns 276,369 shares of the specialty chemicals company’s stock worth $9,504,000 after buying an additional 726 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Axalta Coating Systems by 2.4% in the first quarter. Principal Financial Group Inc. now owns 829,262 shares of the specialty chemicals company’s stock worth $28,518,000 after acquiring an additional 19,720 shares during the period. 98.28% of the stock is owned by hedge funds and other institutional investors.

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.