BMO Capital Markets Raises Axalta Coating Systems (NYSE:AXTA) Price Target to $48.00

Axalta Coating Systems (NYSE:AXTA - Get Free Report) had its target price upped by investment analysts at BMO Capital Markets from $46.00 to $48.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the specialty chemicals company's stock. BMO Capital Markets' price target would indicate a potential upside of 18.23% from the stock's previous close.

A number of other research firms also recently weighed in on AXTA. Royal Bank of Canada boosted their price target on shares of Axalta Coating Systems from $44.00 to $46.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Robert W. Baird boosted their price target on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the stock an "outperform" rating in a research note on Friday, August 2nd. KeyCorp boosted 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. Evercore ISI began coverage on shares of Axalta Coating Systems in a research note on Wednesday. They set an "outperform" rating and a $47.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price target on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the stock an "overweight" rating in a research note on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $42.45.

Axalta Coating Systems Price Performance

Shares of NYSE AXTA traded up $1.00 during trading on Wednesday, reaching $40.60. The company had a trading volume of 1,735,419 shares, compared to its average volume of 2,027,067. Axalta Coating Systems has a 52 week low of $30.40 and a 52 week high of $40.76. The stock has a market cap of $8.85 billion, a PE ratio of 27.43, a PEG ratio of 0.85 and a beta of 1.43. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.42 and a current ratio of 2.00. The business's 50 day moving average price is $36.46 and its 200-day moving average price is $35.51.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last announced its earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share for the quarter, topping 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 company 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 firm posted $0.45 earnings per share. The company's revenue was up .8% on a year-over-year basis. Analysts expect that Axalta Coating Systems will post 2.16 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AXTA. Millennium Management LLC boosted its holdings in 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 worth $93,411,000 after purchasing an additional 1,292,434 shares during the last quarter. Interval Partners LP boosted its holdings in Axalta Coating Systems by 716.6% during the second 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 last quarter. Vanguard Group Inc. boosted its holdings in Axalta Coating Systems by 2.4% during the first quarter. Vanguard Group Inc. now owns 23,763,601 shares of the specialty chemicals company's stock worth $817,230,000 after purchasing an additional 554,806 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in 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 worth $355,479,000 after purchasing an additional 550,970 shares during the last quarter. Finally, Westwood Holdings Group Inc. raised its position in Axalta Coating Systems by 1,424.5% during the first quarter. Westwood Holdings Group Inc. now owns 545,089 shares of the specialty chemicals company's stock worth $18,746,000 after acquiring an additional 509,333 shares in the last quarter. Institutional investors and hedge funds 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.