Axalta Coating Systems (NYSE:AXTA) Shares Gap Down – Should You Sell?

Axalta Coating Systems Ltd. (NYSE:AXTA) gapped down prior to trading on Tuesday . The stock had previously closed at $33.55, but opened at $31.54. Axalta Coating Systems shares last traded at $31.91, with a volume of 520,504 shares traded.

Analyst Ratings Changes

A number of brokerages have recently commented on AXTA. Weiss Ratings reiterated a “hold (c)” rating on shares of Axalta Coating Systems in a research note on Wednesday, January 21st. KeyCorp restated a “sector weight” rating on shares of Axalta Coating Systems in a report on Wednesday, October 29th. JPMorgan Chase & Co. decreased their target price on shares of Axalta Coating Systems from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. UBS Group cut Axalta Coating Systems from a “buy” rating to a “neutral” rating and lowered their price target for the company from $39.00 to $35.00 in a report on Monday, January 12th. Finally, Citigroup lifted their price objective on Axalta Coating Systems from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, December 18th. Seven equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, Axalta Coating Systems presently has an average rating of “Hold” and an average target price of $35.56.

Axalta Coating Systems Trading Down 4.3%

The company has a market capitalization of $6.85 billion, a P/E ratio of 15.43, a PEG ratio of 1.35 and a beta of 1.29. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.59 and a current ratio of 2.20. The stock has a fifty day moving average of $31.98 and a 200 day moving average of $30.26.

Institutional Investors Weigh In On Axalta Coating Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. lifted its position in Axalta Coating Systems by 22.2% during the second quarter. Westwood Holdings Group Inc. now owns 717,059 shares of the specialty chemicals company’s stock valued at $21,289,000 after purchasing an additional 130,347 shares during the last quarter. Wedge Capital Management L L P NC raised its position in Axalta Coating Systems by 23.9% in the 3rd quarter. Wedge Capital Management L L P NC now owns 166,639 shares of the specialty chemicals company’s stock worth $4,769,000 after purchasing an additional 32,196 shares during the period. CWM LLC lifted its stake in Axalta Coating Systems by 211.8% in the third quarter. CWM LLC now owns 141,253 shares of the specialty chemicals company’s stock worth $4,043,000 after purchasing an additional 95,950 shares during the last quarter. Schroder Investment Management Group boosted its position in shares of Axalta Coating Systems by 56.0% during the second quarter. Schroder Investment Management Group now owns 645,464 shares of the specialty chemicals company’s stock valued at $19,280,000 after buying an additional 231,721 shares during the period. Finally, Locust Wood Capital Advisers LLC grew its stake in shares of Axalta Coating Systems by 7.1% during the third quarter. Locust Wood Capital Advisers LLC now owns 3,472,354 shares of the specialty chemicals company’s stock valued at $99,379,000 after buying an additional 231,498 shares during the last quarter. 98.28% of the stock is owned by hedge funds and other institutional investors.

Axalta Coating Systems Company Profile

Axalta Coating Systems is a global leader in the development, manufacture and sale of liquid and powder coatings. The company’s product portfolio spans refinish coatings for the automotive collision repair market, original equipment manufacturer (OEM) coatings for new vehicle production, and industrial coatings including electrodeposition (E-coat) and powder coatings for a variety of sectors such as architecture, heavy equipment and general industrial applications.

Tracing its roots to the 19th century and rebranded as Axalta following its separation from DuPont Performance Coatings in 2013, the company has built a presence in more than 100 countries.