Point72 Hong Kong Ltd Increases Stock Holdings in Axalta Coating Systems Ltd. (NYSE:AXTA)

Point72 Hong Kong Ltd raised its stake in Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 578.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,597 shares of the specialty chemicals company's stock after purchasing an additional 57,631 shares during the period. Point72 Hong Kong Ltd's holdings in Axalta Coating Systems were worth $2,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Plato Investment Management Ltd purchased a new position in Axalta Coating Systems during the 2nd quarter worth approximately $30,000. True Wealth Design LLC purchased a new position in Axalta Coating Systems during the 3rd quarter worth approximately $37,000. First Horizon Advisors Inc. grew its stake in Axalta Coating Systems by 35.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company's stock worth $37,000 after buying an additional 266 shares during the last quarter. 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 purchased a new position in Axalta Coating Systems during the 3rd quarter worth approximately $54,000. Institutional investors and hedge funds own 98.28% of the company's stock.

Wall Street Analyst Weigh In

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

Axalta Coating Systems Price Performance

AXTA stock traded up $0.01 during midday trading on Monday, hitting $40.47. 188,747 shares of the stock were exchanged, compared to its average volume of 1,999,695. Axalta Coating Systems Ltd. has a fifty-two week low of $30.40 and a fifty-two week high of $41.65. The stock has a market cap of $8.82 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 0.87 and a beta of 1.43. The stock's 50-day moving average price is $37.77 and its 200-day moving average price is $35.98. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.42 and a current ratio of 2.00.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.32 billion. During the same period in the previous year, the firm posted $0.45 earnings per share. The business's revenue for the quarter was up .8% compared to the same quarter last year. Research analysts predict 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.