Lord Abbett & CO. LLC Purchases 24,402 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Lord Abbett & CO. LLC raised its stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 5.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 445,836 shares of the specialty chemicals company's stock after purchasing an additional 24,402 shares during the period. Lord Abbett & CO. LLC owned 0.20% of Axalta Coating Systems worth $16,135,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. First Horizon Advisors Inc. lifted its position 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 worth $37,000 after acquiring an additional 266 shares during the period. Signaturefd LLC lifted its position in Axalta Coating Systems by 14.1% in the third quarter. Signaturefd LLC now owns 3,599 shares of the specialty chemicals company's stock worth $130,000 after purchasing an additional 444 shares during the period. Venturi Wealth Management LLC lifted its position in Axalta Coating Systems by 30.2% in the third quarter. Venturi Wealth Management LLC now owns 1,964 shares of the specialty chemicals company's stock worth $71,000 after purchasing an additional 455 shares during the period. Verdence Capital Advisors LLC boosted its stake 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 buying an additional 473 shares in the last quarter. Finally, KBC Group NV increased its holdings in Axalta Coating Systems by 13.9% in the 3rd quarter. KBC Group NV now owns 5,859 shares of the specialty chemicals company's stock valued at $212,000 after buying an additional 716 shares during the period. Institutional investors own 98.28% of the company's stock.

Axalta Coating Systems Price Performance

Shares of AXTA stock traded down $0.51 during trading hours on Monday, hitting $37.72. 2,337,634 shares of the company's stock were exchanged, compared to its average volume of 1,980,854. Axalta Coating Systems Ltd. has a 52 week low of $30.40 and a 52 week high of $41.65. The stock has a market cap of $8.23 billion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 0.83 and a beta of 1.44. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.00 and a quick ratio of 1.42. The stock's 50-day moving average is $38.49 and its 200-day moving average is $36.32.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The specialty chemicals company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.08. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. The company's revenue was up .8% on a year-over-year basis. As a group, research analysts forecast that Axalta Coating Systems Ltd. will post 2.16 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AXTA shares. Barclays raised their price objective 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. KeyCorp raised their price target on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Royal Bank of Canada lifted their price objective on Axalta Coating Systems from $44.00 to $46.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Mizuho increased their target price on Axalta Coating Systems from $42.00 to $43.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. Finally, Evercore ISI assumed coverage on Axalta Coating Systems in a research report on Wednesday, November 13th. They set an "outperform" rating and a $47.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus 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.