Point72 Asset Management L.P. Sells 234,400 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Point72 Asset Management L.P. lowered its stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 82.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 50,700 shares of the specialty chemicals company's stock after selling 234,400 shares during the period. Point72 Asset Management L.P.'s holdings in Axalta Coating Systems were worth $1,835,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of AXTA. First Horizon Advisors Inc. grew its holdings in Axalta Coating Systems by 35.2% in the third quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company's stock valued at $37,000 after purchasing an additional 266 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Axalta Coating Systems by 14.1% in the third quarter. Signaturefd LLC now owns 3,599 shares of the specialty chemicals company's stock valued at $130,000 after acquiring an additional 444 shares in the last quarter. Wedge Capital Management L L P NC raised its position in Axalta Coating Systems by 0.4% during the second quarter. Wedge Capital Management L L P NC now owns 110,555 shares of the specialty chemicals company's stock valued at $3,778,000 after buying an additional 453 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of Axalta Coating Systems by 30.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,964 shares of the specialty chemicals company's stock valued at $71,000 after purchasing an additional 455 shares during the last quarter. Finally, Verdence Capital Advisors LLC increased its position in Axalta Coating Systems by 4.4% during the third quarter. Verdence Capital Advisors LLC now owns 11,162 shares of the specialty chemicals company's stock worth $404,000 after acquiring an additional 473 shares during the period. Institutional investors and hedge funds own 98.28% of the company's stock.

Axalta Coating Systems Stock Performance

NYSE:AXTA traded down $0.49 during trading hours on Tuesday, reaching $39.35. 808,267 shares of the company's stock were exchanged, compared to its average volume of 1,984,987. The firm has a market capitalization of $8.58 billion, a price-to-earnings ratio of 26.93, a P/E/G ratio of 0.86 and a beta of 1.44. The company has a 50-day moving average of $38.20 and a 200 day moving average of $36.19. The company has a quick ratio of 1.42, a current ratio of 2.00 and a debt-to-equity ratio of 1.80. Axalta Coating Systems Ltd. has a 1-year low of $30.40 and a 1-year high of $41.65.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last released 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. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the firm posted $0.45 earnings per share. The business's quarterly revenue was up .8% compared to the same quarter last year. Research analysts anticipate that Axalta Coating Systems Ltd. will post 2.16 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms 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. Barclays raised their target price on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the stock an "overweight" rating in a report on Friday, November 1st. Mizuho upped their price target on shares of Axalta Coating Systems from $42.00 to $43.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. Evercore ISI assumed coverage on shares of Axalta Coating Systems in a report on Wednesday, November 13th. They issued an "outperform" rating and a $47.00 price target for the company. Finally, KeyCorp upped their price objective on Axalta Coating Systems from $44.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $42.45.

Axalta Coating Systems 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.