Axalta Coating Systems Ltd. (NYSE:AXTA) Sees Significant Growth in Short Interest

Axalta Coating Systems Ltd. (NYSE:AXTA - Get Free Report) was the target of a significant increase in short interest in February. As of February 15th, there was short interest totalling 5,200,000 shares, an increase of 20.4% from the January 31st total of 4,320,000 shares. Currently, 2.4% of the company's stock are short sold. Based on an average trading volume of 1,860,000 shares, the short-interest ratio is presently 2.8 days.

Insider Buying and Selling

In related news, insider Troy D. Weaver sold 10,457 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $37.57, for a total value of $392,869.49. Following the transaction, the insider now owns 74,905 shares in the company, valued at approximately $2,814,180.85. This represents a 12.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Axalta Coating Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Eagle Bay Advisors LLC boosted its stake in shares of Axalta Coating Systems by 116.3% during the 4th quarter. Eagle Bay Advisors LLC now owns 824 shares of the specialty chemicals company's stock worth $28,000 after acquiring an additional 443 shares during the period. True Wealth Design LLC acquired a new stake in Axalta Coating Systems during the 3rd quarter valued at $37,000. First Horizon Advisors Inc. lifted its holdings 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 valued at $37,000 after purchasing an additional 266 shares during the last quarter. Millburn Ridgefield Corp bought a new position in Axalta Coating Systems during the third quarter worth $41,000. Finally, Jones Financial Companies Lllp increased its holdings in shares of Axalta Coating Systems by 60.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,318 shares of the specialty chemicals company's stock valued at $45,000 after purchasing an additional 498 shares during the last quarter. Institutional investors own 98.28% of the company's stock.

Remove Ads

Analyst Ratings Changes

A number of analysts have weighed in on the company. Mizuho reduced their price target on Axalta Coating Systems from $43.00 to $41.00 and set an "outperform" rating for the company in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Axalta Coating Systems from $44.00 to $42.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. Evercore ISI initiated coverage on Axalta Coating Systems in a research report on Wednesday, November 13th. They issued an "outperform" rating and a $47.00 price target on the stock. Wolfe Research raised shares of Axalta Coating Systems from a "peer perform" rating to an "outperform" rating and set a $41.00 price objective on the stock in a research note on Friday, January 17th. Finally, KeyCorp restated a "sector weight" rating on shares of Axalta Coating Systems in a research note on Tuesday, December 17th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $43.08.

Axalta Coating Systems Stock Down 3.8 %

Shares of Axalta Coating Systems stock traded down $1.31 on Monday, reaching $33.62. 3,180,710 shares of the company were exchanged, compared to its average volume of 1,986,189. Axalta Coating Systems has a one year low of $30.41 and a one year high of $41.65. The company has a current ratio of 2.01, a quick ratio of 1.47 and a debt-to-equity ratio of 1.74. The company has a 50-day moving average of $35.98 and a 200 day moving average of $36.71. The company has a market capitalization of $7.33 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 0.92 and a beta of 1.45.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The specialty chemicals company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.09. Axalta Coating Systems had a net margin of 7.41% and a return on equity of 26.29%. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the firm posted $0.43 earnings per share. The company's quarterly revenue was up 1.1% compared to the same quarter last year. On average, equities research analysts forecast that Axalta Coating Systems will post 2.55 earnings per share for the current year.

About Axalta Coating Systems

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.