Westfield Capital Management Co. LP Acquires 84,594 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Westfield Capital Management Co. LP grew its holdings in Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 4.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,096,790 shares of the specialty chemicals company's stock after purchasing an additional 84,594 shares during the period. Westfield Capital Management Co. LP owned about 0.96% of Axalta Coating Systems worth $75,883,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AXTA. Plato Investment Management Ltd acquired a new position in Axalta Coating Systems in the 2nd quarter valued at approximately $30,000. First Horizon Advisors Inc. increased its stake in shares of Axalta Coating Systems by 35.2% in the third 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 last quarter. GAMMA Investing LLC raised its holdings in shares of Axalta Coating Systems by 111.5% during the second quarter. GAMMA Investing LLC now owns 1,417 shares of the specialty chemicals company's stock worth $48,000 after acquiring an additional 747 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Axalta Coating Systems during the third quarter worth $54,000. Finally, UMB Bank n.a. boosted its position in Axalta Coating Systems by 90.2% during the third quarter. UMB Bank n.a. now owns 1,546 shares of the specialty chemicals company's stock valued at $56,000 after purchasing an additional 733 shares during the last quarter. 98.28% of the stock is owned by hedge funds and other institutional investors.

Axalta Coating Systems Stock Performance

Shares of Axalta Coating Systems stock traded up $0.74 during trading on Friday, reaching $40.52. The company's stock had a trading volume of 2,196,600 shares, compared to its average volume of 2,030,658. The business's fifty day moving average price is $37.30 and its 200-day moving average price is $35.82. Axalta Coating Systems Ltd. has a one year low of $30.40 and a one year high of $40.91. The firm has a market cap of $8.84 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 0.85 and a beta of 1.43. 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 posted its quarterly earnings data on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share for the quarter, beating the consensus estimate 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 prior year, the business earned $0.45 earnings per share. Axalta Coating Systems's revenue for the quarter was up .8% compared to the same quarter last year. As a group, equities research analysts predict that Axalta Coating Systems Ltd. will post 2.16 earnings per share for the current year.

Wall Street Analyst Weigh In

AXTA has been the subject of several research reports. Robert W. Baird lifted their price target on Axalta Coating Systems from $40.00 to $42.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. KeyCorp boosted their target price on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. BMO Capital Markets raised their price target on shares of Axalta Coating Systems from $46.00 to $48.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their price objective on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the company an "overweight" rating in a research note on Monday, August 5th. Finally, Barclays increased their target price 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 investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $42.45.

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.