Alps Advisors Inc. Takes Position in Axalta Coating Systems Ltd. (NYSE:AXTA)

Alps Advisors Inc. purchased a new stake in Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,250 shares of the specialty chemicals company's stock, valued at approximately $340,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in AXTA. Jones Financial Companies Lllp lifted its holdings 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 worth $45,000 after acquiring an additional 498 shares during the period. Proficio Capital Partners LLC bought a new position in Axalta Coating Systems in the 4th quarter valued at approximately $350,000. Raymond James Financial Inc. bought a new position in Axalta Coating Systems in the 4th quarter valued at approximately $7,127,000. HighTower Advisors LLC lifted its stake in Axalta Coating Systems by 8.4% in the 4th quarter. HighTower Advisors LLC now owns 8,270 shares of the specialty chemicals company's stock valued at $283,000 after purchasing an additional 639 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in Axalta Coating Systems by 6.5% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 21,471 shares of the specialty chemicals company's stock valued at $735,000 after purchasing an additional 1,308 shares during the last quarter. Institutional investors own 98.28% of the company's stock.

Analyst Ratings Changes

AXTA has been the subject of several research reports. Wall Street Zen downgraded shares of Axalta Coating Systems from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Wells Fargo & Company dropped their price target on shares of Axalta Coating Systems from $40.00 to $39.00 and set an "overweight" rating for the company in a research note on Tuesday, July 1st. BMO Capital Markets downgraded shares of Axalta Coating Systems from an "outperform" rating to a "market perform" rating and dropped their price target for the company from $51.00 to $33.00 in a research note on Wednesday. The Goldman Sachs Group dropped their price target on shares of Axalta Coating Systems from $46.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Finally, Morgan Stanley dropped their price target on shares of Axalta Coating Systems from $40.00 to $36.00 and set an "equal weight" rating for the company in a research note on Thursday, May 8th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $38.80.

Axalta Coating Systems Stock Down 1.2%

Shares of Axalta Coating Systems stock traded down $0.36 during trading hours on Friday, reaching $29.71. The company's stock had a trading volume of 3,746,163 shares, compared to its average volume of 2,124,995. Axalta Coating Systems Ltd. has a one year low of $27.70 and a one year high of $41.66. The company has a market capitalization of $6.49 billion, a P/E ratio of 14.49, a P/E/G ratio of 0.83 and a beta of 1.25. The stock's fifty day simple moving average is $30.67 and its two-hundred day simple moving average is $32.98. The company has a debt-to-equity ratio of 1.60, 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, May 7th. The specialty chemicals company reported $0.59 earnings per share 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 company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period last year, the firm earned $0.48 earnings per share. The firm's revenue was down 2.5% on a year-over-year basis. On average, research analysts forecast that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current year.

Axalta Coating Systems Company 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.