Royal Bank of Canada Forecasts Strong Price Appreciation for Axalta Coating Systems (NYSE:AXTA) Stock

Axalta Coating Systems (NYSE:AXTA) had its price objective upped by Royal Bank of Canada from $44.00 to $46.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the specialty chemicals company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 21.12% from the company’s previous close.

A number of other research analysts have also issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Axalta Coating Systems from $40.00 to $41.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Robert W. Baird boosted their price objective on Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. KeyCorp boosted their price objective on Axalta Coating Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday. UBS Group reduced their price objective on Axalta Coating Systems from $39.00 to $38.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Finally, Mizuho boosted their price objective on Axalta Coating Systems from $42.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Axalta Coating Systems has an average rating of “Moderate Buy” and a consensus target price of $41.70.

Axalta Coating Systems Price Performance

Shares of NYSE AXTA opened at $37.98 on Friday. Axalta Coating Systems has a twelve month low of $28.69 and a twelve month high of $38.77. The company has a current ratio of 2.00, a quick ratio of 1.70 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $8.33 billion, a price-to-earnings ratio of 25.66, a price-to-earnings-growth ratio of 0.97 and a beta of 1.44. The business has a 50 day simple moving average of $35.97 and a 200-day simple moving average of $35.08.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the business earned $0.45 EPS. The business’s quarterly revenue was up .8% on a year-over-year basis. As a group, equities research analysts expect that Axalta Coating Systems will post 2.06 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Axalta Coating Systems by 2.4% in the first quarter. Vanguard Group Inc. now owns 23,763,601 shares of the specialty chemicals company’s stock valued at $817,230,000 after buying an additional 554,806 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Axalta Coating Systems by 0.9% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 15,009,959 shares of the specialty chemicals company’s stock valued at $512,890,000 after buying an additional 137,209 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Axalta Coating Systems by 5.6% in the second quarter. Victory Capital Management Inc. now owns 10,403,246 shares of the specialty chemicals company’s stock valued at $355,479,000 after buying an additional 550,970 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Axalta Coating Systems by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,771,023 shares of the specialty chemicals company’s stock valued at $128,852,000 after buying an additional 302,752 shares during the period. Finally, Locust Wood Capital Advisers LLC lifted its holdings in shares of Axalta Coating Systems by 63.8% in the first quarter. Locust Wood Capital Advisers LLC now owns 3,198,290 shares of the specialty chemicals company’s stock valued at $109,989,000 after buying an additional 1,245,223 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.