GAMMA Investing LLC boosted its stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 3,005.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 76,855 shares of the specialty chemicals company's stock after buying an additional 74,380 shares during the period. GAMMA Investing LLC's holdings in Axalta Coating Systems were worth $2,549,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of AXTA. Versant Capital Management Inc raised its holdings in shares of Axalta Coating Systems by 263.3% during the first quarter. Versant Capital Management Inc now owns 8,112 shares of the specialty chemicals company's stock valued at $269,000 after acquiring an additional 5,879 shares during the period. Kera Capital Partners Inc. purchased a new position in Axalta Coating Systems during the 1st quarter worth approximately $240,000. 111 Capital acquired a new stake in Axalta Coating Systems during the 4th quarter valued at $658,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Axalta Coating Systems by 12.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 21,746 shares of the specialty chemicals company's stock valued at $744,000 after purchasing an additional 2,438 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Axalta Coating Systems in the fourth quarter valued at $2,413,000. 98.28% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages have recently weighed in on AXTA. BNP Paribas upgraded Axalta Coating Systems from a "neutral" rating to an "outperform" rating and set a $38.00 price target on the stock in a report on Thursday, April 10th. 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 dropped their target price on Axalta Coating Systems from $40.00 to $36.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. Citigroup reduced their price target on shares of Axalta Coating Systems from $35.00 to $34.00 and set a "neutral" rating for the company in a research report on Friday. Finally, Mizuho set a $37.00 price objective on shares of Axalta Coating Systems in a research report on Tuesday, April 15th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $40.50.
Read Our Latest Report on AXTA
Axalta Coating Systems Stock Down 4.6%
Shares of NYSE:AXTA traded down $1.39 on Friday, reaching $28.77. The company had a trading volume of 2,786,139 shares, compared to its average volume of 2,048,261. The stock has a market capitalization of $6.29 billion, a P/E ratio of 16.16, a P/E/G ratio of 0.92 and a beta of 1.27. The stock has a 50-day moving average price of $31.42 and a 200 day moving average price of $34.22. Axalta Coating Systems Ltd. has a twelve month low of $27.70 and a twelve month high of $41.66. The company has a quick ratio of 1.47, a current ratio of 2.01 and a debt-to-equity ratio of 1.74.
Axalta Coating Systems (NYSE:AXTA - Get Free Report) last announced its earnings results on Wednesday, May 7th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.54 by $0.05. Axalta Coating Systems had a return on equity of 26.29% and a net margin of 7.41%. The firm had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.29 billion. During the same quarter in the prior year, the business earned $0.48 earnings per share. The company's revenue was down 2.5% on a year-over-year basis. On average, equities analysts expect that Axalta Coating Systems Ltd. will post 2.55 EPS for the current 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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