Bank of America Corp DE Cuts Stock Holdings in Axalta Coating Systems Ltd. $AXTA

Bank of America Corp DE lessened its stake in Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 41.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 770,595 shares of the specialty chemicals company's stock after selling 550,661 shares during the quarter. Bank of America Corp DE owned about 0.36% of Axalta Coating Systems worth $21,345,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Janus Henderson Group PLC lifted its stake in shares of Axalta Coating Systems by 3.9% in the 1st quarter. Janus Henderson Group PLC now owns 1,036,806 shares of the specialty chemicals company's stock valued at $28,735,000 after purchasing an additional 39,385 shares in the last quarter. Bull Harbor Capital LLC acquired a new stake in Axalta Coating Systems during the 1st quarter worth approximately $489,000. Amundi increased its position in Axalta Coating Systems by 4,072.1% during the 1st quarter. Amundi now owns 637,497 shares of the specialty chemicals company's stock worth $17,659,000 after purchasing an additional 622,217 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Axalta Coating Systems by 49.7% in the first quarter. EverSource Wealth Advisors LLC now owns 11,489 shares of the specialty chemicals company's stock valued at $318,000 after buying an additional 3,816 shares during the period. Finally, California State Teachers Retirement System raised its holdings in Axalta Coating Systems by 24.0% in the first quarter. California State Teachers Retirement System now owns 252,309 shares of the specialty chemicals company's stock valued at $6,989,000 after buying an additional 48,781 shares during the period. 98.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Mizuho increased their price objective on shares of Axalta Coating Systems from $32.00 to $39.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 1st. Wall Street Zen lowered shares of Axalta Coating Systems from a "strong-buy" rating to a "buy" rating in a report on Monday, August 10th. Citigroup assumed coverage on shares of Axalta Coating Systems in a research report on Thursday, June 4th. They set a "buy" rating and a $44.00 price target for the company. Royal Bank Of Canada increased their price target on Axalta Coating Systems from $34.00 to $36.00 and gave the company a "sector perform" rating in a report on Wednesday, July 8th. Finally, Weiss Ratings raised Axalta Coating Systems from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, August 3rd. Four equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $36.00.

Axalta Coating Systems Stock Down 1.9%

Shares of Axalta Coating Systems stock opened at $35.42 on Wednesday. The business has a 50-day moving average of $34.51 and a 200-day moving average of $31.61. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.53 and a quick ratio of 1.12. The company has a market capitalization of $7.58 billion, a PE ratio of 21.87, a P/E/G ratio of 1.84 and a beta of 1.24. Axalta Coating Systems Ltd. has a 1-year low of $24.94 and a 1-year high of $38.61.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last announced its earnings results on Tuesday, July 28th. The specialty chemicals company reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.07. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.31 billion. Axalta Coating Systems had a return on equity of 22.35% and a net margin of 6.78%.The company's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.64 earnings per share. Axalta Coating Systems has set its FY 2026 guidance at 2.550-2.700 EPS and its Q3 2026 guidance at 0.700-0.700 EPS. As a group, equities analysts forecast that Axalta Coating Systems Ltd. will post 2.63 EPS for the current fiscal year.

Axalta Coating Systems Company Profile

Axalta Coating Systems is a global leader in the development, manufacture and sale of liquid and powder coatings. The company's product portfolio spans refinish coatings for the automotive collision repair market, original equipment manufacturer (OEM) coatings for new vehicle production, and industrial coatings including electrodeposition (E-coat) and powder coatings for a variety of sectors such as architecture, heavy equipment and general industrial applications.

Tracing its roots to the 19th century and rebranded as Axalta following its separation from DuPont Performance Coatings in 2013, the company has built a presence in more than 100 countries.

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