Pzena Investment Management LLC Sells 1,822,827 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Pzena Investment Management LLC lowered its position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 98.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,979 shares of the specialty chemicals company's stock after selling 1,822,827 shares during the quarter. Pzena Investment Management LLC's holdings in Axalta Coating Systems were worth $1,338,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in AXTA. Plato Investment Management Ltd bought a new position in Axalta Coating Systems in the second quarter valued at $30,000. First Horizon Advisors Inc. boosted its holdings in shares of Axalta Coating Systems by 35.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company's stock valued at $37,000 after buying an additional 266 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Axalta Coating Systems by 111.5% in the second quarter. GAMMA Investing LLC now owns 1,417 shares of the specialty chemicals company's stock valued at $48,000 after buying an additional 747 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Axalta Coating Systems in the third quarter valued at $54,000. Finally, UMB Bank n.a. grew its stake in shares of Axalta Coating Systems by 90.2% in the third quarter. UMB Bank n.a. now owns 1,546 shares of the specialty chemicals company's stock valued at $56,000 after buying an additional 733 shares in the last quarter. Institutional investors own 98.28% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AXTA. KeyCorp raised their target price on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Evercore ISI began coverage on shares of Axalta Coating Systems in a research note on Wednesday, November 13th. They issued an "outperform" rating and a $47.00 target price for the company. Mizuho raised their target price on shares of Axalta Coating Systems from $42.00 to $43.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. BMO Capital Markets lifted their price objective on shares of Axalta Coating Systems from $46.00 to $48.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. Finally, Barclays lifted their price objective on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the stock an "overweight" rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $42.45.

Axalta Coating Systems Stock Performance

Shares of Axalta Coating Systems stock traded up $0.57 during trading on Thursday, reaching $39.46. The company's stock had a trading volume of 362,530 shares, compared to its average volume of 2,014,239. The firm has a market cap of $8.60 billion, a PE ratio of 26.28, a P/E/G ratio of 0.83 and a beta of 1.43. The business's 50-day moving average price is $37.08 and its 200-day moving average price is $35.76. Axalta Coating Systems Ltd. has a 52 week low of $30.40 and a 52 week high of $40.91. 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 (NYSE:AXTA - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.08. The business 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%. Axalta Coating Systems's revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.45 earnings per share. Equities analysts forecast that Axalta Coating Systems Ltd. will post 2.16 earnings per share for the current year.

Axalta Coating Systems Company 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.