Axalta Coating Systems Ltd. (NYSE:AXTA) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA reduced its stake in Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 5.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,757,329 shares of the specialty chemicals company's stock after selling 278,335 shares during the period. Massachusetts Financial Services Co. MA owned approximately 2.18% of Axalta Coating Systems worth $157,801,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Jones Financial Companies Lllp boosted its stake in shares of Axalta Coating Systems by 60.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,318 shares of the specialty chemicals company's stock worth $45,000 after purchasing an additional 498 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Axalta Coating Systems in the 4th quarter worth approximately $350,000. Raymond James Financial Inc. purchased a new stake in shares of Axalta Coating Systems in the 4th quarter worth approximately $7,127,000. HighTower Advisors LLC raised its stake in shares of Axalta Coating Systems by 8.4% during the 4th quarter. HighTower Advisors LLC now owns 8,270 shares of the specialty chemicals company's stock worth $283,000 after acquiring an additional 639 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its stake in shares of Axalta Coating Systems by 6.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 21,471 shares of the specialty chemicals company's stock worth $735,000 after acquiring an additional 1,308 shares in the last quarter. 98.28% of the stock is currently owned by institutional investors.

Axalta Coating Systems Stock Performance

NYSE AXTA traded down $0.36 during mid-day trading on Friday, reaching $29.71. 3,746,163 shares of the stock were exchanged, compared to its average volume of 2,124,995. The business's 50 day moving average is $30.67 and its 200-day moving average is $32.98. Axalta Coating Systems Ltd. has a 1 year low of $27.70 and a 1 year high of $41.66. The company has a market capitalization of $6.49 billion, a P/E ratio of 14.49, a P/E/G ratio of 0.83 and a beta of 1.25. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.53 and a current ratio of 2.12.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.05. The business had revenue of $1.29 billion for 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 was down 2.5% compared to the same quarter last year. During the same period last year, the firm posted $0.48 earnings per share. On average, equities research analysts forecast that Axalta Coating Systems Ltd. will post 2.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AXTA has been the subject of several recent analyst reports. Citigroup reiterated a "neutral" rating and set a $34.00 price objective (down previously from $35.00) on shares of Axalta Coating Systems in a research note on Friday, June 13th. JPMorgan Chase & Co. lowered shares of Axalta Coating Systems from an "overweight" rating to a "neutral" rating and cut their price target for the company from $42.00 to $32.00 in a research note on Thursday, May 8th. Wall Street Zen lowered shares of Axalta Coating Systems from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. 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. Finally, Wells Fargo & Company cut their price target on shares of Axalta Coating Systems from $40.00 to $39.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 1st. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $38.80.

Axalta Coating Systems Company 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.