Aurora Investment Counsel purchased a new stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 55,217 shares of the specialty chemicals company's stock, valued at approximately $1,832,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Louisiana State Employees Retirement System raised its position in Axalta Coating Systems by 1.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 61,100 shares of the specialty chemicals company's stock valued at $2,027,000 after purchasing an additional 600 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of Axalta Coating Systems by 13.3% during the 1st quarter. New York State Common Retirement Fund now owns 187,469 shares of the specialty chemicals company's stock worth $6,218,000 after acquiring an additional 22,000 shares during the period. Ballentine Partners LLC grew its holdings in shares of Axalta Coating Systems by 35.4% during the 1st quarter. Ballentine Partners LLC now owns 11,260 shares of the specialty chemicals company's stock worth $373,000 after acquiring an additional 2,942 shares during the period. Xponance Inc. grew its holdings in shares of Axalta Coating Systems by 1.6% during the 1st quarter. Xponance Inc. now owns 25,360 shares of the specialty chemicals company's stock worth $841,000 after acquiring an additional 407 shares during the period. Finally, State of Michigan Retirement System grew its holdings in shares of Axalta Coating Systems by 1.2% during the 1st quarter. State of Michigan Retirement System now owns 52,200 shares of the specialty chemicals company's stock worth $1,731,000 after acquiring an additional 600 shares during the period. Institutional investors own 98.28% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on AXTA. Citigroup reiterated a "neutral" rating and set a $34.00 target price (down previously from $35.00) on shares of Axalta Coating Systems in a report on Friday, June 13th. JPMorgan Chase & Co. downgraded Axalta Coating Systems from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $42.00 to $32.00 in a report on Thursday, May 8th. BMO Capital Markets downgraded Axalta Coating Systems from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $51.00 to $33.00 in a report on Wednesday. Mizuho set a $35.00 price target on Axalta Coating Systems and gave the stock an "outperform" rating in a research note on Tuesday. Finally, The Goldman Sachs Group cut their price target on Axalta Coating Systems from $46.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $39.47.
Check Out Our Latest Research Report on Axalta Coating Systems
Axalta Coating Systems Stock Up 0.5%
AXTA stock traded up $0.16 during midday trading on Thursday, hitting $30.04. The company's stock had a trading volume of 2,971,911 shares, compared to its average volume of 2,122,375. The company has a market cap of $6.56 billion, a PE ratio of 14.65, a P/E/G ratio of 0.84 and a beta of 1.25. Axalta Coating Systems Ltd. has a 12 month low of $27.70 and a 12 month high of $41.66. The company has a current ratio of 2.12, a quick ratio of 1.53 and a debt-to-equity ratio of 1.60. The firm's 50-day moving average is $30.70 and its 200-day moving average is $33.02.
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 the consensus estimate of $0.54 by $0.05. The firm had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.29 billion. Axalta Coating Systems had a return on equity of 26.30% and a net margin of 8.56%. The company's revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.48 EPS. On average, equities research analysts forecast that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current fiscal year.
Axalta Coating Systems Profile
(
Free Report)
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.
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