Harbor Capital Advisors Inc. Buys 15,468 Shares of Axalta Coating Systems Ltd. $AXTA

Key Points

• Harbor Capital Advisors Inc. acquired an additional 15,468 shares of Axalta Coating Systems Ltd., increasing its stake by 4.8% in Q2, bringing its total ownership to approximately 338,640 shares valued at $10,054,000.
• Axalta reported $0.64 EPS for the last quarter, exceeding analysts' expectations of $0.61, although revenue decreased by 3.4% year-over-year.
• Several financial institutions adjusted their target prices for Axalta, with the consensus price target currently set at $37.71, indicating a "Moderate Buy" rating overall.

Harbor Capital Advisors Inc. boosted its position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 4.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 338,640 shares of the specialty chemicals company's stock after acquiring an additional 15,468 shares during the quarter. Harbor Capital Advisors Inc. owned 0.15% of Axalta Coating Systems worth $10,054,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. ProShare Advisors LLC grew its stake in shares of Axalta Coating Systems by 2.9% during the fourth quarter. ProShare Advisors LLC now owns 12,242 shares of the specialty chemicals company's stock worth $419,000 after purchasing an additional 343 shares in the last quarter. Fifth Third Bancorp lifted its stake in Axalta Coating Systems by 12.1% during the first quarter. Fifth Third Bancorp now owns 3,704 shares of the specialty chemicals company's stock worth $123,000 after purchasing an additional 401 shares during the last quarter. Xponance Inc. boosted its holdings in Axalta Coating Systems by 1.6% in the first quarter. Xponance Inc. now owns 25,360 shares of the specialty chemicals company's stock valued at $841,000 after purchasing an additional 407 shares in the last quarter. Golden State Wealth Management LLC increased its stake in Axalta Coating Systems by 105.9% in the first quarter. Golden State Wealth Management LLC now owns 949 shares of the specialty chemicals company's stock valued at $31,000 after purchasing an additional 488 shares during the last quarter. Finally, State of Michigan Retirement System boosted its holdings in shares of Axalta Coating Systems by 1.2% in the 1st quarter. State of Michigan Retirement System now owns 52,200 shares of the specialty chemicals company's stock valued at $1,731,000 after buying an additional 600 shares in the last quarter. 98.28% of the stock is owned by institutional investors and hedge funds.

Axalta Coating Systems Trading Down 1.4%

AXTA traded down $0.42 during trading on Friday, reaching $30.27. The company had a trading volume of 4,472,668 shares, compared to its average volume of 2,117,289. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.53 and a current ratio of 2.12. Axalta Coating Systems Ltd. has a 12-month low of $27.58 and a 12-month high of $41.65. The company has a market cap of $6.55 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 1.78 and a beta of 1.28. The firm's 50-day simple moving average is $30.23 and its 200 day simple moving average is $31.17.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.03. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.33 billion. Axalta Coating Systems had a net margin of 8.58% and a return on equity of 25.32%. The firm's revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 earnings per share. Axalta Coating Systems has set its FY 2025 guidance at 2.450-2.550 EPS. Q3 2025 guidance at 0.630-0.670 EPS. Equities research analysts anticipate that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current year.

Insider Activity

In related news, SVP Amy Tufano sold 3,194 shares of Axalta Coating Systems stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $31.06, for a total transaction of $99,205.64. Following the completion of the transaction, the senior vice president directly owned 12,087 shares of the company's stock, valued at $375,422.22. This trade represents a 20.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AXTA has been the topic of a number of research reports. Mizuho dropped their price target on Axalta Coating Systems from $39.00 to $35.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 15th. Zacks Research upgraded shares of Axalta Coating Systems from a "strong sell" rating to a "hold" rating in a research note on Monday, September 8th. 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 research note on Friday, June 13th. Wells Fargo & Company reduced their price objective on 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. Finally, Deutsche Bank Aktiengesellschaft cut Axalta Coating Systems from a "buy" rating to a "hold" rating and set a $32.00 price objective for the company. in a research report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Axalta Coating Systems currently has an average rating of "Moderate Buy" and an average price target of $37.71.

Axalta Coating Systems 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.