Y Intercept Hong Kong Ltd Sells 51,546 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Y Intercept Hong Kong Ltd decreased its holdings in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 60.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,093 shares of the specialty chemicals company's stock after selling 51,546 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Axalta Coating Systems were worth $1,098,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Allianz Asset Management GmbH bought a new stake in Axalta Coating Systems during the 1st quarter valued at approximately $511,000. Teachers Retirement System of The State of Kentucky boosted its stake in Axalta Coating Systems by 4.9% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 118,578 shares of the specialty chemicals company's stock valued at $3,933,000 after purchasing an additional 5,499 shares during the period. Jackson Creek Investment Advisors LLC bought a new stake in Axalta Coating Systems during the 1st quarter valued at approximately $392,000. Verdence Capital Advisors LLC boosted its stake in Axalta Coating Systems by 47.0% during the 1st quarter. Verdence Capital Advisors LLC now owns 15,799 shares of the specialty chemicals company's stock valued at $524,000 after purchasing an additional 5,050 shares during the period. Finally, Edgestream Partners L.P. boosted its stake in Axalta Coating Systems by 130.5% during the 1st quarter. Edgestream Partners L.P. now owns 330,939 shares of the specialty chemicals company's stock valued at $10,977,000 after purchasing an additional 187,354 shares during the period. Institutional investors own 98.28% of the company's stock.

Axalta Coating Systems Price Performance

NYSE AXTA traded down $0.25 on Monday, hitting $29.28. 440,522 shares of the company's stock were exchanged, compared to its average volume of 2,312,681. The stock has a 50-day moving average of $30.37 and a 200-day moving average of $32.82. 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 52 week low of $27.70 and a 52 week high of $41.65. The stock has a market cap of $6.40 billion, a price-to-earnings ratio of 14.31, a P/E/G ratio of 1.41 and a beta of 1.25.

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Wells Fargo & Company cut their price target on Axalta Coating Systems from $40.00 to $39.00 and set an "overweight" rating for the company in a report on Tuesday, July 1st. Barclays cut their price target on Axalta Coating Systems from $45.00 to $42.00 and set an "overweight" rating for the company in a report on Thursday, May 15th. BMO Capital Markets cut Axalta Coating Systems from an "outperform" rating to a "market perform" rating and cut their price target for the company from $51.00 to $33.00 in a report on Wednesday, July 16th. Deutsche Bank Aktiengesellschaft cut Axalta Coating Systems from a "buy" rating to a "hold" rating and set a $32.00 price target for the company. in a report on Friday, July 18th. Finally, Mizuho cut their price target on Axalta Coating Systems from $39.00 to $35.00 and set an "outperform" rating for the company in a report on Tuesday, July 15th. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $38.80.

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.