Axalta Coating Systems Ltd. $AXTA Shares Sold by Interval Partners LP

Key Points

• Interval Partners LP reduced its stake in Axalta Coating Systems by 28.4% during Q1, now owning approximately 1.2% of the company with a value of $58.4 million.
• Axalta reported $0.64 earnings per share for the last quarter, slightly above the consensus estimate of $0.61, despite a year-over-year revenue decline of 3.4%.
• Recent analyst reports have led to a decrease in price targets for Axalta, with Royal Bank of Canada's target now set at $34.00, and JPMorgan lowering their rating to neutral with a target of $32.00.

Interval Partners LP decreased its position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 28.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,761,974 shares of the specialty chemicals company's stock after selling 699,962 shares during the quarter. Axalta Coating Systems makes up about 1.2% of Interval Partners LP's portfolio, making the stock its 16th biggest holding. Interval Partners LP owned approximately 0.81% of Axalta Coating Systems worth $58,445,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of Axalta Coating Systems by 3,005.3% during the 1st quarter. GAMMA Investing LLC now owns 76,855 shares of the specialty chemicals company's stock valued at $2,549,000 after acquiring an additional 74,380 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Axalta Coating Systems by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 502,087 shares of the specialty chemicals company's stock valued at $16,654,000 after acquiring an additional 2,099 shares during the last quarter. DAVENPORT & Co LLC acquired a new position in shares of Axalta Coating Systems during the 1st quarter valued at about $204,000. Allspring Global Investments Holdings LLC purchased a new stake in Axalta Coating Systems in the 1st quarter valued at about $572,000. Finally, New York State Teachers Retirement System raised its holdings in Axalta Coating Systems by 12.1% in the 1st quarter. New York State Teachers Retirement System now owns 77,859 shares of the specialty chemicals company's stock valued at $2,583,000 after buying an additional 8,412 shares during the period. Institutional investors and hedge funds own 98.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AXTA shares. Citigroup restated a "neutral" rating and issued a $34.00 price objective (down from $35.00) on shares of Axalta Coating Systems in a report on Friday, June 13th. Wells Fargo & Company reduced their price objective on shares of Axalta Coating Systems from $40.00 to $39.00 and set an "overweight" rating on the stock in a report on Tuesday, July 1st. Barclays cut their price target on shares of Axalta Coating Systems from $45.00 to $42.00 and set an "overweight" rating on the stock in a research note on Thursday, May 15th. The Goldman Sachs Group cut their price target on shares of 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. Finally, BMO Capital Markets lowered shares of Axalta Coating Systems from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $51.00 to $33.00 in a research note on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $37.71.

Insider Transactions at Axalta Coating Systems

In related news, SVP Amy Tufano sold 3,194 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $31.06, for a total value 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 represents a 20.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.30% of the stock is owned by company insiders.

Axalta Coating Systems Stock Up 1.8%

Shares of AXTA stock traded up $0.55 during trading hours on Friday, reaching $31.78. 2,552,891 shares of the stock were exchanged, compared to its average volume of 2,428,336. The business's fifty day moving average is $30.14 and its two-hundred day moving average is $31.44. The company has a debt-to-equity ratio of 1.47, a current ratio of 2.12 and a quick ratio of 1.53. Axalta Coating Systems Ltd. has a 12-month low of $27.58 and a 12-month high of $41.65. The firm has a market capitalization of $6.88 billion, a P/E ratio of 15.58, a P/E/G ratio of 1.85 and a beta of 1.28.

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

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.