Allianz Asset Management GmbH Buys Shares of 15,400 Axalta Coating Systems Ltd. (NYSE:AXTA)

Key Points

• Allianz Asset Management GmbH acquired a new stake in Axalta Coating Systems, purchasing 15,400 shares valued at approximately $511,000 in the first quarter.
• Recent analyst ratings indicate mixed sentiments, with BNP Paribas upgrading Axalta to "outperform" with a target price of $38.00 while other firms have lowered their price targets.
• Shares of Axalta are currently trading at $27.82, reflecting a decrease of 1.8%, with a market capitalization of $6.02 billion and an EPS of $0.64 for the last quarter.

Allianz Asset Management GmbH purchased a new position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,400 shares of the specialty chemicals company's stock, valued at approximately $511,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. GAMMA Investing LLC increased its position in shares of Axalta Coating Systems by 3,005.3% during the first quarter. GAMMA Investing LLC now owns 76,855 shares of the specialty chemicals company's stock worth $2,549,000 after acquiring an additional 74,380 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Axalta Coating Systems by 0.4% during the first quarter. Principal Financial Group Inc. now owns 502,087 shares of the specialty chemicals company's stock worth $16,654,000 after acquiring an additional 2,099 shares in the last quarter. DAVENPORT & Co LLC bought a new stake in shares of Axalta Coating Systems during the first quarter worth $204,000. Allspring Global Investments Holdings LLC acquired a new position in Axalta Coating Systems during the first quarter worth $572,000. Finally, New York State Teachers Retirement System boosted its holdings in Axalta Coating Systems by 12.1% during the first quarter. New York State Teachers Retirement System now owns 77,859 shares of the specialty chemicals company's stock worth $2,583,000 after purchasing an additional 8,412 shares during the last quarter. 98.28% of the stock is owned by institutional investors.

Axalta Coating Systems Stock Performance

NYSE:AXTA traded up $0.04 during mid-day trading on Wednesday, reaching $28.72. 961,130 shares of the company's stock were exchanged, compared to its average volume of 2,382,808. Axalta Coating Systems Ltd. has a one year low of $27.58 and a one year high of $41.65. The firm has a market capitalization of $6.22 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 1.34 and a beta of 1.27. The business's fifty day simple moving average is $29.95 and its two-hundred day simple moving average is $32.52. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.53 and a current ratio of 2.12.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.03. Axalta Coating Systems had a net margin of 8.58% and a return on equity of 25.32%. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period last year, the firm earned $0.57 earnings per share. Axalta Coating Systems's revenue for the quarter was down 3.4% compared to the same quarter last year. Analysts anticipate that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AXTA has been the subject of several recent research reports. Wall Street Zen cut shares of Axalta Coating Systems from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Barclays reduced their target price on shares of Axalta Coating Systems from $45.00 to $42.00 and set an "overweight" rating for the company in a report on Thursday, May 15th. Mizuho cut their price target on shares of Axalta Coating Systems from $39.00 to $35.00 and set an "outperform" rating for the company in a research note on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft cut shares of Axalta Coating Systems from a "buy" rating to a "hold" rating and set a $32.00 price target for the company. in a research note on Friday, July 18th. Finally, Royal Bank Of Canada cut their price target on shares of Axalta Coating Systems from $37.00 to $34.00 and set an "outperform" rating for the company in a research note on Friday, August 1st. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $37.71.

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.