BMO Capital Markets Forecasts Strong Price Appreciation for Axalta Coating Systems (NYSE:AXTA) Stock

Axalta Coating Systems (NYSE:AXTA) had its target price hoisted by BMO Capital Markets from $46.00 to $48.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the specialty chemicals company’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 18.05% from the company’s previous close.

Other analysts have also recently issued reports about the company. Barclays upped their target price on Axalta Coating Systems from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Mizuho raised their target price on shares of Axalta Coating Systems from $42.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Robert W. Baird lifted their target price on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. KeyCorp increased their price target on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, Evercore ISI began coverage on shares of Axalta Coating Systems in a research note on Wednesday. They issued an “outperform” rating and a $47.00 price objective on the stock. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $42.45.

Axalta Coating Systems Stock Up 0.1 %

Shares of NYSE:AXTA opened at $40.66 on Wednesday. The firm has a 50 day simple moving average of $36.56 and a 200-day simple moving average of $35.54. Axalta Coating Systems has a twelve month low of $30.40 and a twelve month high of $40.91. The company has a current ratio of 2.00, a quick ratio of 1.42 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $8.87 billion, a PE ratio of 27.47, a P/E/G ratio of 0.85 and a beta of 1.43.

Axalta Coating Systems (NYSE:AXTA) last announced 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 net margin of 6.22% and a return on equity of 24.92%. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the company earned $0.45 earnings per share. Axalta Coating Systems’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities analysts predict that Axalta Coating Systems will post 2.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. increased its position in Axalta Coating Systems by 4.8% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 20,454 shares of the specialty chemicals company’s stock worth $703,000 after purchasing an additional 938 shares during the period. Entropy Technologies LP purchased a new position in Axalta Coating Systems in the first quarter worth $686,000. State Board of Administration of Florida Retirement System lifted its holdings in Axalta Coating Systems by 7.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 202,446 shares of the specialty chemicals company’s stock valued at $6,962,000 after acquiring an additional 13,541 shares during the period. Blair William & Co. IL lifted its holdings in Axalta Coating Systems by 18.6% in the first quarter. Blair William & Co. IL now owns 14,902 shares of the specialty chemicals company’s stock valued at $512,000 after acquiring an additional 2,339 shares during the period. Finally, Westfield Capital Management Co. LP boosted its position in shares of Axalta Coating Systems by 12.5% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,880,702 shares of the specialty chemicals company’s stock worth $64,677,000 after purchasing an additional 208,827 shares in the last quarter. 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.