Axalta Coating Systems (NYSE:AXTA) PT Raised to $40.00 at JPMorgan Chase & Co.

Axalta Coating Systems (NYSE:AXTA) had its price objective lifted by JPMorgan Chase & Co. from $38.00 to $40.00 in a report issued on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the specialty chemicals company’s stock.

Several other research firms have also recently issued reports on AXTA. Wolfe Research assumed coverage on Axalta Coating Systems in a research report on Friday, March 1st. They set a peer perform rating for the company. BMO Capital Markets boosted their target price on shares of Axalta Coating Systems from $42.00 to $45.00 and gave the stock an outperform rating in a report on Thursday. KeyCorp lifted their price target on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the company an overweight rating in a report on Thursday. Robert W. Baird increased their price objective on shares of Axalta Coating Systems from $35.00 to $40.00 and gave the company an outperform rating in a report on Thursday. Finally, Barclays raised their price objective on Axalta Coating Systems from $38.00 to $40.00 and gave the company an overweight rating in a research report on Thursday. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Axalta Coating Systems has an average rating of Moderate Buy and an average target price of $38.00.

Axalta Coating Systems Trading Up 1.1 %

Shares of NYSE:AXTA opened at $35.20 on Thursday. The stock has a 50 day moving average of $32.84 and a 200 day moving average of $31.95. The company has a market cap of $7.77 billion, a PE ratio of 31.71, a price-to-earnings-growth ratio of 1.09 and a beta of 1.51. Axalta Coating Systems has a 12-month low of $25.03 and a 12-month high of $35.31. The company has a current ratio of 2.07, a quick ratio of 1.46 and a debt-to-equity ratio of 1.92.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.08. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. Axalta Coating Systems had a net margin of 4.77% and a return on equity of 21.82%. The company’s revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.35 earnings per share. As a group, equities research analysts expect that Axalta Coating Systems will post 1.99 EPS for the current year.

Institutional Investors Weigh In On Axalta Coating Systems

Several institutional investors have recently made changes to their positions in AXTA. Victory Capital Management Inc. grew its holdings in Axalta Coating Systems by 1,856.6% during the 4th quarter. Victory Capital Management Inc. now owns 5,866,601 shares of the specialty chemicals company’s stock valued at $199,288,000 after purchasing an additional 5,566,757 shares during the last quarter. Norges Bank bought a new position in shares of Axalta Coating Systems during the fourth quarter valued at approximately $82,878,000. Locust Wood Capital Advisers LLC purchased a new stake in shares of Axalta Coating Systems in the fourth quarter worth approximately $66,346,000. Kinetic Partners Management LP bought a new stake in shares of Axalta Coating Systems during the 3rd quarter worth approximately $40,603,000. Finally, JPMorgan Chase & Co. boosted its holdings in Axalta Coating Systems by 11.7% during 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 during the period. 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.