Axalta Coating Systems (NYSE:AXTA) Price Target Raised to $46.00 at Royal Bank of Canada

Axalta Coating Systems (NYSE:AXTA) had its price objective hoisted by equities researchers at Royal Bank of Canada from $44.00 to $46.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the specialty chemicals company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 21.66% from the company’s previous close.

Several other research analysts have also recently weighed in on the stock. Robert W. Baird upped their price target on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. KeyCorp raised their price target on Axalta Coating Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday. JPMorgan Chase & Co. upped their price objective on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Barclays lifted their target price on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday. Finally, UBS Group cut their price target on shares of Axalta Coating Systems from $39.00 to $38.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.70.

Axalta Coating Systems Stock Performance

Shares of NYSE:AXTA traded down $0.11 during midday trading on Friday, reaching $37.81. 877,977 shares of the company traded hands, compared to its average volume of 2,035,230. Axalta Coating Systems has a 12 month low of $28.69 and a 12 month high of $38.77. The firm’s fifty day moving average price is $35.92 and its two-hundred day moving average price is $35.01. The company has a quick ratio of 1.70, a current ratio of 2.00 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $8.29 billion, a price-to-earnings ratio of 25.55, a price-to-earnings-growth ratio of 0.97 and a beta of 1.44.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.32 billion. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.45 earnings per share. On average, equities analysts expect that Axalta Coating Systems will post 2.06 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Millennium Management LLC increased its stake in shares of Axalta Coating Systems by 89.7% during the second quarter. Millennium Management LLC now owns 2,733,703 shares of the specialty chemicals company’s stock valued at $93,411,000 after buying an additional 1,292,434 shares during the period. Locust Wood Capital Advisers LLC raised its holdings in Axalta Coating Systems by 63.8% in the 1st quarter. Locust Wood Capital Advisers LLC now owns 3,198,290 shares of the specialty chemicals company’s stock worth $109,989,000 after purchasing an additional 1,245,223 shares in the last quarter. Interval Partners LP lifted its position in shares of Axalta Coating Systems by 716.6% in the 2nd quarter. Interval Partners LP now owns 1,224,961 shares of the specialty chemicals company’s stock worth $41,857,000 after purchasing an additional 1,074,961 shares during the period. Vanguard Group Inc. boosted its stake in shares of Axalta Coating Systems by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 23,763,601 shares of the specialty chemicals company’s stock valued at $817,230,000 after purchasing an additional 554,806 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Axalta Coating Systems by 5.6% during 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. Hedge funds and other institutional investors 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.