Allspring Global Investments Holdings LLC Purchases New Position in Axalta Coating Systems Ltd. (NYSE:AXTA)

Allspring Global Investments Holdings LLC bought a new position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,129 shares of the specialty chemicals company's stock, valued at approximately $572,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its position in shares of Axalta Coating Systems by 60.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,318 shares of the specialty chemicals company's stock valued at $45,000 after purchasing an additional 498 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in Axalta Coating Systems by 24.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,951 shares of the specialty chemicals company's stock worth $238,000 after buying an additional 1,351 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Axalta Coating Systems by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,432,826 shares of the specialty chemicals company's stock valued at $49,031,000 after buying an additional 9,572 shares in the last quarter. Atria Investments Inc lifted its position in shares of Axalta Coating Systems by 19.6% during the 4th quarter. Atria Investments Inc now owns 32,925 shares of the specialty chemicals company's stock valued at $1,127,000 after acquiring an additional 5,398 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of Axalta Coating Systems during the 4th quarter worth $350,000. 98.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Wall Street Zen lowered Axalta Coating Systems from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Morgan Stanley reduced their target price on Axalta Coating Systems from $40.00 to $36.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. Citigroup reiterated a "neutral" rating and issued a $34.00 price objective (down previously from $35.00) on shares of Axalta Coating Systems in a research note on Friday, June 13th. BNP Paribas raised Axalta Coating Systems from a "neutral" rating to an "outperform" rating and set a $38.00 price objective for the company in a research report on Thursday, April 10th. Finally, JPMorgan Chase & Co. downgraded Axalta Coating Systems from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $42.00 to $32.00 in a research note on Thursday, May 8th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $40.60.

Axalta Coating Systems Stock Performance

NYSE:AXTA traded down $0.02 during mid-day trading on Thursday, hitting $30.94. 1,826,594 shares of the company's stock traded hands, compared to its average volume of 2,096,633. The firm has a market capitalization of $6.76 billion, a price-to-earnings ratio of 15.09, a price-to-earnings-growth ratio of 0.87 and a beta of 1.25. The firm has a 50 day moving average of $30.96 and a two-hundred day moving average of $33.19. The company has a current ratio of 2.12, a quick ratio of 1.53 and a debt-to-equity ratio of 1.60. Axalta Coating Systems Ltd. has a 12 month low of $27.70 and a 12 month high of $41.66.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The specialty chemicals company reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $0.05. Axalta Coating Systems had a net margin of 8.56% and a return on equity of 26.30%. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the business earned $0.48 earnings per share. The firm's revenue for the quarter was down 2.5% on a year-over-year basis. On average, equities analysts forecast that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current fiscal year.

Axalta Coating Systems Profile

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.