Axalta Coating Systems Ltd. $AXTA Position Boosted by PDT Partners LLC

Key Points

• PDT Partners LLC increased its holdings in Axalta Coating Systems by 19.2%, acquiring an additional 13,919 shares during the first quarter, bringing their total to 86,473 shares valued at approximately $2.87 million.
• Axalta Coating Systems' stock has seen various price target adjustments from analysts, with the consensus target now at $37.71 and ratings ranging from "Strong Buy" to "Hold."
• The company reported a quarterly EPS of $0.64, exceeding estimates, but experienced a 3.4% decline in year-over-year revenue, totaling $1.32 billion.

PDT Partners LLC lifted its holdings in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 19.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 86,473 shares of the specialty chemicals company's stock after acquiring an additional 13,919 shares during the quarter. PDT Partners LLC's holdings in Axalta Coating Systems were worth $2,868,000 as of its most recent filing with the SEC.

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

Insider Activity at Axalta Coating Systems

In other 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 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 approximately $375,422.22. This represents a 20.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Mizuho lowered their price objective 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. Wells Fargo & Company lowered their price objective 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. BMO Capital Markets lowered Axalta Coating Systems from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $51.00 to $33.00 in a report on Wednesday, July 16th. Citigroup reissued 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. Finally, Barclays lowered their price objective 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. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $37.71.

Axalta Coating Systems Stock Performance

Shares of NYSE:AXTA traded up $0.55 during trading on Friday, hitting $31.78. 2,552,891 shares of the company traded hands, compared to its average volume of 2,391,272. The stock has a market capitalization of $6.88 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 1.81 and a beta of 1.28. The business's fifty day moving average is $30.14 and its 200-day moving average is $31.52. Axalta Coating Systems Ltd. has a one year low of $27.58 and a one year high of $41.65. The company has a quick ratio of 1.53, a current ratio of 2.12 and a debt-to-equity ratio of 1.47.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last posted its earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.61 by $0.03. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.33 billion. Axalta Coating Systems had a return on equity of 25.32% and a net margin of 8.58%.The business's revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the company 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. As a group, equities analysts predict that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current fiscal year.

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.