BMO Capital Markets Boosts Axalta Coating Systems (NYSE:AXTA) Price Target to $34.00

Axalta Coating Systems (NYSE:AXTA) had its price objective lifted by BMO Capital Markets to $34.00 in a research report released on Friday morning, The Fly reports. The firm currently has a market perform rating on the specialty chemicals company’s stock.

AXTA has been the topic of several other reports. Maxim Group began coverage on Axalta Coating Systems in a research report on Wednesday, June 19th. JPMorgan Chase & Co. downgraded Axalta Coating Systems from an overweight rating to a neutral rating and reduced their target price for the stock from $30.00 to $27.00 in a research report on Friday, April 26th. Finally, Zacks Investment Research upgraded Axalta Coating Systems from a strong sell rating to a hold rating and set a $30.00 target price on the stock in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Axalta Coating Systems presently has an average rating of Hold and a consensus target price of $30.27.

Shares of NYSE:AXTA opened at $30.30 on Friday. The company has a debt-to-equity ratio of 2.98, a current ratio of 2.21 and a quick ratio of 1.60. Axalta Coating Systems has a 52-week low of $21.58 and a 52-week high of $30.93. The firm has a fifty day moving average of $25.80. The stock has a market capitalization of $7.15 billion, a P/E ratio of 23.67, a P/E/G ratio of 1.41 and a beta of 1.30.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings data on Wednesday, April 24th. The specialty chemicals company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.13. Axalta Coating Systems had a return on equity of 24.42% and a net margin of 3.90%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the business earned $0.27 earnings per share. The business’s revenue was down 4.0% on a year-over-year basis. Sell-side analysts forecast that Axalta Coating Systems will post 1.73 EPS for the current year.

In other news, Director Andreas Kramvis sold 55,048 shares of the firm’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $28.11, for a total value of $1,547,399.28. Following the transaction, the director now directly owns 50,628 shares in the company, valued at approximately $1,423,153.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles W. Shaver sold 500,000 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $25.24, for a total value of $12,620,000.00. Following the completion of the transaction, the director now owns 492,369 shares in the company, valued at $12,427,393.56. The disclosure for this sale can be found here. Insiders have sold 864,868 shares of company stock worth $22,074,006 over the last quarter. 2.10% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in AXTA. Jolley Asset Management LLC grew its stake in shares of Axalta Coating Systems by 3.9% in the first quarter. Jolley Asset Management LLC now owns 10,210 shares of the specialty chemicals company’s stock valued at $257,000 after buying an additional 380 shares in the last quarter. ETF Managers Group LLC grew its stake in shares of Axalta Coating Systems by 9.8% in the first quarter. ETF Managers Group LLC now owns 4,740 shares of the specialty chemicals company’s stock valued at $120,000 after buying an additional 422 shares in the last quarter. AMI Investment Management Inc. grew its stake in shares of Axalta Coating Systems by 0.5% in the fourth quarter. AMI Investment Management Inc. now owns 92,455 shares of the specialty chemicals company’s stock valued at $2,165,000 after buying an additional 450 shares in the last quarter. Country Club Trust Company n.a. grew its stake in shares of Axalta Coating Systems by 3.5% in the first quarter. Country Club Trust Company n.a. now owns 14,798 shares of the specialty chemicals company’s stock valued at $373,000 after buying an additional 499 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake in shares of Axalta Coating Systems by 4.6% in the fourth quarter. Prudential Financial Inc. now owns 11,310 shares of the specialty chemicals company’s stock valued at $265,000 after buying an additional 500 shares in the last quarter. Institutional investors own 98.47% 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. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers water and solvent borne products and systems that are used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.

Further Reading: Day Trading

The Fly

Analyst Recommendations for Axalta Coating Systems (NYSE:AXTA)

Receive News & Ratings for Axalta Coating Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axalta Coating Systems and related companies with MarketBeat.com's FREE daily email newsletter.