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

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

Several other brokerages have also recently weighed in on AXTA. BMO Capital Markets raised their price target on shares of Axalta Coating Systems from $42.00 to $45.00 and gave the company an outperform rating in a research report on Thursday. Citigroup raised their target price on Axalta Coating Systems from $38.00 to $40.00 and gave the company a buy rating in a report on Wednesday, April 10th. Wolfe Research initiated coverage on Axalta Coating Systems in a report on Friday, March 1st. They set a peer perform rating for the company. Robert W. Baird increased their price target on Axalta Coating Systems from $35.00 to $40.00 and gave the company an outperform rating in a research report on Thursday. Finally, Wells Fargo & Company lifted their price objective on shares of Axalta Coating Systems from $31.00 to $33.00 and gave the stock an equal weight rating in a report on Tuesday, January 9th. One 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 stock. Based on data from MarketBeat.com, 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 NYSE:AXTA opened at $35.20 on Thursday. The stock’s 50 day moving average is $32.84 and its 200-day moving average is $31.88. Axalta Coating Systems has a twelve month low of $25.03 and a twelve month high of $35.31. 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 firm has a market capitalization of $7.77 billion, a price-to-earnings ratio of 31.71, a PEG ratio of 1.09 and a beta of 1.51.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings data on Wednesday, May 1st. The specialty chemicals company reported $0.48 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the company posted $0.35 earnings per share. The business’s revenue was up 1.3% on a year-over-year basis. Sell-side analysts forecast that Axalta Coating Systems will post 1.99 EPS for the current fiscal year.

Institutional Trading of Axalta Coating Systems

Hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp grew its position in shares of Axalta Coating Systems by 47.7% during the 4th quarter. Fifth Third Bancorp now owns 1,046 shares of the specialty chemicals company’s stock valued at $36,000 after acquiring an additional 338 shares during the period. TFO Wealth Partners LLC lifted its stake in Axalta Coating Systems by 12,022.2% in the fourth quarter. TFO Wealth Partners LLC now owns 1,091 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 1,082 shares during the last quarter. Raleigh Capital Management Inc. bought a new position in Axalta Coating Systems during the fourth quarter valued at $48,000. CWM LLC increased its position in Axalta Coating Systems by 35.6% in the third quarter. CWM LLC now owns 2,474 shares of the specialty chemicals company’s stock worth $67,000 after buying an additional 649 shares during the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Axalta Coating Systems in the fourth quarter valued at $88,000. Institutional investors own 98.28% of the company’s stock.

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.