Point72 Asset Management L.P. Buys 870,782 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Point72 Asset Management L.P. raised its position in Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 1,717.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 921,482 shares of the specialty chemicals company's stock after acquiring an additional 870,782 shares during the period. Point72 Asset Management L.P. owned approximately 0.42% of Axalta Coating Systems worth $31,533,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in AXTA. Barclays PLC lifted its position in Axalta Coating Systems by 50.4% during the third quarter. Barclays PLC now owns 154,483 shares of the specialty chemicals company's stock valued at $5,589,000 after purchasing an additional 51,748 shares during the period. Park Avenue Securities LLC raised its position in shares of Axalta Coating Systems by 13.3% in the fourth quarter. Park Avenue Securities LLC now owns 22,872 shares of the specialty chemicals company's stock valued at $783,000 after buying an additional 2,676 shares during the last quarter. Shelton Wealth Management LLC acquired a new position in shares of Axalta Coating Systems in the 4th quarter worth approximately $228,000. UMB Bank n.a. increased its stake in Axalta Coating Systems by 35.4% during the fourth quarter. UMB Bank n.a. now owns 2,093 shares of the specialty chemicals company's stock worth $72,000 after purchasing an additional 547 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in Axalta Coating Systems by 1.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 23,951 shares of the specialty chemicals company's stock valued at $820,000 after purchasing an additional 323 shares in the last quarter. 98.28% of the stock is owned by institutional investors and hedge funds.

Axalta Coating Systems Trading Up 1.0%

AXTA traded up $0.32 during trading on Thursday, reaching $31.61. 1,046,620 shares of the company's stock were exchanged, compared to its average volume of 2,022,374. Axalta Coating Systems Ltd. has a one year low of $27.70 and a one year high of $41.66. 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 firm has a fifty day moving average price of $32.18 and a two-hundred day moving average price of $35.33. The stock has a market capitalization of $6.91 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 0.92 and a beta of 1.35.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.54 by $0.05. Axalta Coating Systems had a net margin of 7.41% and a return on equity of 26.29%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the firm posted $0.48 EPS. The firm's quarterly revenue was down 2.5% compared to the same quarter last year. As a group, equities research analysts forecast that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on AXTA shares. Wells Fargo & Company upped their price objective on Axalta Coating Systems from $37.00 to $40.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. The Goldman Sachs Group lowered their price target on Axalta Coating Systems from $46.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Morgan Stanley reduced their price objective on shares of Axalta Coating Systems from $40.00 to $36.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. Wall Street Zen downgraded shares of Axalta Coating Systems from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, Mizuho set a $37.00 price target on shares of Axalta Coating Systems in a research report on Tuesday, April 15th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $40.38.

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.