Barclays Forecasts Strong Price Appreciation for Axalta Coating Systems (NYSE:AXTA) Stock

by · The Cerbat Gem

Axalta Coating Systems (NYSE:AXTA – Get Free Report) had its price objective raised by stock analysts at Barclays from $42.00 to $44.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the specialty chemicals company’s stock. Barclays‘s target price would suggest a potential upside of 15.85% from the stock’s previous close.

Other analysts also recently issued reports about the company. KeyCorp raised their target price on Axalta Coating Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday. Mizuho raised their target price on Axalta Coating Systems from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday. UBS Group reduced their target price on 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. Royal Bank of Canada lifted their price target on Axalta Coating Systems from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Finally, Robert W. Baird lifted their price target on Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.70.

Check Out Our Latest Research Report on AXTA

Axalta Coating Systems Stock Performance

AXTA stock opened at $37.98 on Friday. The stock has a 50-day moving average price of $35.97 and a 200-day moving average price of $35.08. Axalta Coating Systems has a 1-year low of $28.69 and a 1-year high of $38.77. The company has a current ratio of 2.00, a quick ratio of 1.70 and a debt-to-equity ratio of 1.80. The firm has a market cap of $8.33 billion, a PE ratio of 25.66, a price-to-earnings-growth ratio of 0.97 and a beta of 1.44.

Axalta Coating Systems (NYSE:AXTA – Get Free Report) last issued its earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.51 by $0.08. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.32 billion. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the business posted $0.45 EPS. As a group, equities research analysts expect that Axalta Coating Systems will post 2.06 earnings per share for the current year.

Hedge Funds Weigh In On Axalta Coating Systems

Hedge funds and other institutional investors have recently modified their holdings of the business. Plato Investment Management Ltd purchased a new position in shares of Axalta Coating Systems in the 2nd quarter worth approximately $30,000. GAMMA Investing LLC boosted its stake in shares of Axalta Coating Systems by 111.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,417 shares of the specialty chemicals company’s stock worth $48,000 after buying an additional 747 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Axalta Coating Systems in the 3rd quarter worth approximately $54,000. UMB Bank n.a. boosted its stake in shares of Axalta Coating Systems by 90.2% in the 3rd quarter. UMB Bank n.a. now owns 1,546 shares of the specialty chemicals company’s stock worth $56,000 after buying an additional 733 shares during the last quarter. Finally, Versant Capital Management Inc purchased a new position in shares of Axalta Coating Systems in the 2nd quarter worth approximately $71,000. Hedge funds and other institutional investors own 98.28% of the company’s stock.

Axalta Coating Systems Company Profile

(Get Free Report)

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.

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