Oppenheimer Asset Management Inc. lifted its position in shares of Axalta Coating Systems Ltd (NYSE:AXTA) by 29.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 76,079 shares of the specialty chemicals company’s stock after buying an additional 17,376 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Axalta Coating Systems were worth $1,313,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Axalta Coating Systems by 517.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 344,957 shares of the specialty chemicals company’s stock worth $5,957,000 after buying an additional 289,059 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Axalta Coating Systems by 139.8% in the first quarter. Russell Investments Group Ltd. now owns 467,576 shares of the specialty chemicals company’s stock valued at $8,102,000 after purchasing an additional 272,627 shares in the last quarter. Rhumbline Advisers raised its stake in Axalta Coating Systems by 17.9% in the first quarter. Rhumbline Advisers now owns 214,233 shares of the specialty chemicals company’s stock valued at $3,700,000 after purchasing an additional 32,520 shares in the last quarter. New York State Common Retirement Fund raised its stake in Axalta Coating Systems by 27.4% in the first quarter. New York State Common Retirement Fund now owns 652,299 shares of the specialty chemicals company’s stock valued at $11,265,000 after purchasing an additional 140,272 shares in the last quarter. Finally, Stone Ridge Asset Management LLC raised its stake in Axalta Coating Systems by 22.6% in the first quarter. Stone Ridge Asset Management LLC now owns 83,523 shares of the specialty chemicals company’s stock valued at $1,442,000 after purchasing an additional 15,400 shares in the last quarter. 88.15% of the stock is owned by institutional investors.
AXTA has been the subject of a number of analyst reports. Goldman Sachs Group raised Axalta Coating Systems from a “neutral” rating to a “buy” rating and boosted their price target for the company from $19.00 to $25.00 in a research note on Tuesday, May 12th. UBS Group boosted their price target on Axalta Coating Systems from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Royal Bank of Canada boosted their price target on Axalta Coating Systems from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. TheStreet downgraded Axalta Coating Systems from a “b-” rating to a “c+” rating in a research note on Friday, February 7th. Finally, Morgan Stanley dropped their price target on Axalta Coating Systems from $29.00 to $20.00 and set an “equal weight” rating for the company in a research note on Monday, March 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company. Axalta Coating Systems presently has an average rating of “Buy” and an average target price of $25.60.
NYSE:AXTA opened at $21.31 on Friday. The stock has a market cap of $5.01 billion, a P/E ratio of 19.37, a price-to-earnings-growth ratio of 16.74 and a beta of 1.57. The company has a current ratio of 2.17, a quick ratio of 1.58 and a debt-to-equity ratio of 2.60. The stock’s 50-day moving average is $18.55 and its 200-day moving average is $25.20. Axalta Coating Systems Ltd has a 1-year low of $12.92 and a 1-year high of $32.20.
Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings results on Tuesday, May 5th. The specialty chemicals company reported $0.31 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31. The company had revenue of $983.50 million for the quarter, compared to analysts’ expectations of $1.01 billion. Axalta Coating Systems had a return on equity of 30.89% and a net margin of 5.93%. The business’s quarterly revenue was down 12.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.34 earnings per share. As a group, equities analysts forecast that Axalta Coating Systems Ltd will post 0.78 EPS for the current year.
About Axalta Coating Systems
Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings systems. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers water and solvent borne products and systems that are used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.
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