577,526 Shares in Axalta Coating Systems Ltd. $AXTA Purchased by Bank of America Corp DE

Key Points

• Bank of America purchased 577,526 Axalta shares during the second quarter, valued at approximately $19.8 million, giving it a 0.27% stake. Institutional investors collectively own 98.28% of the company.
• Axalta reported quarterly earnings of $0.72 per share, exceeding the $0.65 consensus estimate, while revenue rose 3.1% year over year to $1.35 billion.
• Analyst sentiment is mixed: five analysts rate the stock a Buy and nine rate it Hold, producing an overall Hold consensus and an average price target of $36.85.

Bank of America Corp DE purchased a new stake in Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 577,526 shares of the specialty chemicals company's stock, valued at approximately $19,763,000. Bank of America Corp DE owned 0.27% of Axalta Coating Systems as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Cedar Mountain Advisors LLC acquired a new position in Axalta Coating Systems during the 1st quarter worth $30,000. IFP Advisors Inc grew its position in shares of Axalta Coating Systems by 65.9% in the fourth quarter. IFP Advisors Inc now owns 1,453 shares of the specialty chemicals company's stock valued at $47,000 after purchasing an additional 577 shares during the last quarter. Root Financial Partners LLC increased its stake in shares of Axalta Coating Systems by 297.5% in the first quarter. Root Financial Partners LLC now owns 2,202 shares of the specialty chemicals company's stock worth $61,000 after purchasing an additional 1,648 shares during the period. Allworth Financial LP bought a new position in shares of Axalta Coating Systems in the second quarter worth about $77,000. Finally, SJS Investment Consulting Inc. lifted its position in shares of Axalta Coating Systems by 543.4% during the 1st quarter. SJS Investment Consulting Inc. now owns 2,818 shares of the specialty chemicals company's stock worth $78,000 after purchasing an additional 2,380 shares during the last quarter. Institutional investors own 98.28% of the company's stock.

Axalta Coating Systems Stock Performance

AXTA opened at $32.28 on Friday. The stock has a market cap of $6.91 billion, a PE ratio of 19.93, a P/E/G ratio of 1.53 and a beta of 1.24. The company has a current ratio of 1.53, a quick ratio of 1.12 and a debt-to-equity ratio of 0.99. Axalta Coating Systems Ltd. has a 1 year low of $24.94 and a 1 year high of $38.61. The stock's 50 day simple moving average is $35.10 and its 200-day simple moving average is $31.86.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The specialty chemicals company reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.07. Axalta Coating Systems had a net margin of 6.78% and a return on equity of 22.35%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the company earned $0.64 earnings per share. The business's revenue was up 3.1% compared to the same quarter last year. Axalta Coating Systems has set its FY 2026 guidance at 2.550-2.700 EPS and its Q3 2026 guidance at 0.700-0.700 EPS. Sell-side analysts forecast that Axalta Coating Systems Ltd. will post 2.63 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AXTA. Mizuho raised their target price on Axalta Coating Systems from $32.00 to $39.00 and gave the company an "outperform" rating in a report on Wednesday, July 1st. KeyCorp began coverage on Axalta Coating Systems in a research report on Friday, September 11th. They issued an "overweight" rating and a $47.00 price objective for the company. Citigroup assumed coverage on shares of Axalta Coating Systems in a research note on Thursday, June 4th. They issued a "buy" rating and a $44.00 price objective on the stock. Wall Street Zen lowered shares of Axalta Coating Systems from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 10th. Finally, Royal Bank Of Canada upped their target price on shares of Axalta Coating Systems from $34.00 to $36.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 8th. Five analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, Axalta Coating Systems has an average rating of "Hold" and a consensus price target of $36.85.

About Axalta Coating Systems

Axalta Coating Systems Ltd. is a global coatings company that develops, manufactures and sells protective, decorative and functional coatings. Its products are used by automotive manufacturers, vehicle repair and refinish businesses, industrial equipment producers, commercial transportation companies and other customers seeking to protect surfaces from corrosion, weathering and wear.

The company's offerings include liquid and powder coatings, primers, clearcoats, electrocoat systems, sealants and other coating technologies.

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