Concentric Capital Strategies LP lowered its holdings in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 66.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,960 shares of the specialty chemicals company's stock after selling 122,865 shares during the quarter. Concentric Capital Strategies LP's holdings in Axalta Coating Systems were worth $2,206,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently added to or reduced their stakes in AXTA. Plato Investment Management Ltd purchased a new position in shares of Axalta Coating Systems during the second quarter worth approximately $30,000. First Horizon Advisors Inc. increased its position in shares of Axalta Coating Systems by 35.2% during the third quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company's stock worth $37,000 after purchasing an additional 266 shares in the last quarter. True Wealth Design LLC acquired a new stake in shares of Axalta Coating Systems in the 3rd quarter worth $37,000. GAMMA Investing LLC grew its stake in Axalta Coating Systems by 111.5% during 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. Finally, Capital Performance Advisors LLP acquired a new position in Axalta Coating Systems during the 3rd quarter valued at about $54,000. 98.28% of the stock is owned by institutional investors.
Axalta Coating Systems Price Performance
Shares of Axalta Coating Systems stock traded down $0.19 during trading hours on Tuesday, reaching $40.40. 421,953 shares of the company's stock were exchanged, compared to its average volume of 1,998,173. The company has a market capitalization of $8.81 billion, a P/E ratio of 27.41, a price-to-earnings-growth ratio of 0.87 and a beta of 1.44. Axalta Coating Systems Ltd. has a 1 year low of $30.40 and a 1 year high of $41.65. The business has a fifty day moving average of $37.85 and a two-hundred day moving average of $36.01. 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 the consensus estimate of $0.51 by $0.08. The firm had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.32 billion. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. The business's revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the firm earned $0.45 earnings per share. As a group, research analysts predict that Axalta Coating Systems Ltd. will post 2.16 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several brokerages have weighed in on AXTA. Barclays raised their price target on Axalta Coating Systems from $42.00 to $44.00 and gave the stock an "overweight" rating in a report on Friday, November 1st. Royal Bank of Canada lifted their price objective 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. Evercore ISI started coverage on 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. BMO Capital Markets increased their price objective on Axalta Coating Systems from $46.00 to $48.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. lifted their target price on Axalta Coating Systems from $40.00 to $41.00 and gave the stock an "overweight" rating in a report on Monday, August 5th. Two investment 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. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $42.45.
View Our Latest Analysis on AXTA
Axalta Coating Systems Company Profile
(
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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