Axalta Coating Systems Ltd. (NYSE:AXTA) Receives $35.70 Consensus Price Target from Analysts

Axalta Coating Systems Ltd. (NYSE:AXTA) has been given a consensus recommendation of “Hold” by the ten ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $35.70.

Several brokerages have issued reports on AXTA. UBS Group downgraded shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $35.00 to $36.00 in a research report on Monday, January 8th. Wells Fargo & Company boosted their price objective on shares of Axalta Coating Systems from $31.00 to $33.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 9th. Citigroup boosted their price objective on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Wolfe Research assumed coverage on shares of Axalta Coating Systems in a report on Friday, March 1st. They set a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of Axalta Coating Systems from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Friday, February 9th.

Axalta Coating Systems Stock Performance

Shares of Axalta Coating Systems stock opened at $31.71 on Friday. The company has a market capitalization of $6.98 billion, a PE ratio of 26.42, a PEG ratio of 1.03 and a beta of 1.51. Axalta Coating Systems has a 12 month low of $25.03 and a 12 month high of $34.53. The company has a current ratio of 1.98, a quick ratio of 1.46 and a debt-to-equity ratio of 1.96. The stock’s fifty day simple moving average is $32.69 and its 200 day simple moving average is $31.45.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings data on Thursday, February 8th. The specialty chemicals company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.01). The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.29 billion. Axalta Coating Systems had a return on equity of 20.70% and a net margin of 5.16%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.38 EPS. On average, research analysts predict that Axalta Coating Systems will post 1.88 EPS for the current year.

Hedge Funds Weigh In On Axalta Coating Systems

A number of institutional investors and hedge funds have recently made changes to their positions in AXTA. Wellington Management Group LLP lifted its position in Axalta Coating Systems by 9.0% in the 3rd quarter. Wellington Management Group LLP now owns 4,657,696 shares of the specialty chemicals company’s stock valued at $125,292,000 after acquiring an additional 382,949 shares in the last quarter. Hawk Ridge Capital Management LP lifted its position in Axalta Coating Systems by 49.3% in the 3rd quarter. Hawk Ridge Capital Management LP now owns 2,952,198 shares of the specialty chemicals company’s stock valued at $79,414,000 after acquiring an additional 974,973 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Axalta Coating Systems by 11.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,470,860 shares of the specialty chemicals company’s stock valued at $362,366,000 after acquiring an additional 1,415,723 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Axalta Coating Systems by 11.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,644,246 shares of the specialty chemicals company’s stock valued at $71,130,000 after buying an additional 272,455 shares during the last quarter. Finally, Prospector Partners LLC increased its stake in Axalta Coating Systems by 10.2% in the 3rd quarter. Prospector Partners LLC now owns 323,930 shares of the specialty chemicals company’s stock valued at $8,714,000 after buying an additional 29,930 shares during the last quarter. 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.