Shellback Capital LP Lowers Holdings in Axalta Coating Systems Ltd. $AXTA

Key Points

• Shellback Capital LP reduced its stake in Axalta Coating Systems by 44.2% in Q1, owning approximately 126,185 shares valued at $4.18 million after selling 100,000 shares.
• Several hedge funds have made significant moves regarding Axalta, including Millennium Management LLC, which increased its position by 89%, now owning over 3 million shares worth $102.4 million.
• Research firms have cut their price targets for Axalta Coating Systems, with Royal Bank of Canada and Mizuho now targeting $34.00 and $35.00 respectively, maintaining an "outperform" rating overall.

Shellback Capital LP lessened its stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 44.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 126,185 shares of the specialty chemicals company's stock after selling 100,000 shares during the period. Shellback Capital LP owned 0.06% of Axalta Coating Systems worth $4,186,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in AXTA. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Axalta Coating Systems by 3.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,691 shares of the specialty chemicals company's stock valued at $469,000 after purchasing an additional 431 shares during the last quarter. Crestline Management LP boosted its holdings in shares of Axalta Coating Systems by 58.4% during the 4th quarter. Crestline Management LP now owns 15,483 shares of the specialty chemicals company's stock valued at $530,000 after purchasing an additional 5,707 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Axalta Coating Systems by 144.7% in the 4th quarter. Deutsche Bank AG now owns 1,950,902 shares of the specialty chemicals company's stock valued at $66,760,000 after acquiring an additional 1,153,620 shares during the last quarter. Ethic Inc. grew its position in Axalta Coating Systems by 4.4% in the fourth quarter. Ethic Inc. now owns 65,299 shares of the specialty chemicals company's stock worth $2,235,000 after acquiring an additional 2,777 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in Axalta Coating Systems by 200.2% in the fourth quarter. Janus Henderson Group PLC now owns 481,737 shares of the specialty chemicals company's stock worth $16,483,000 after acquiring an additional 321,279 shares in the last quarter. Institutional investors own 98.28% of the company's stock.

Axalta Coating Systems Trading Down 1.2%

Shares of NYSE:AXTA traded down $0.39 during trading hours on Friday, hitting $31.39. 346,750 shares of the company's stock traded hands, compared to its average volume of 2,398,569. Axalta Coating Systems Ltd. has a 1 year low of $27.58 and a 1 year high of $41.65. The business has a fifty day moving average price of $30.22 and a 200-day moving average price of $31.38. The firm has a market capitalization of $6.80 billion, a P/E ratio of 15.39, a price-to-earnings-growth ratio of 1.80 and a beta of 1.28. 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 (NYSE:AXTA - Get Free Report) last announced its earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.03. Axalta Coating Systems had a return on equity of 25.32% and a net margin of 8.58%.The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the business earned $0.57 earnings per share. The company's revenue for the quarter 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. Equities analysts expect that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on AXTA. Barclays dropped their price target on Axalta Coating Systems from $45.00 to $42.00 and set an "overweight" rating for the company in a research report on Thursday, May 15th. Wells Fargo & Company dropped their price target on Axalta Coating Systems from $40.00 to $39.00 and set an "overweight" rating for the company in a research report on Tuesday, July 1st. Royal Bank Of Canada dropped their price target on Axalta Coating Systems from $37.00 to $34.00 and set an "outperform" rating for the company in a research report on Friday, August 1st. Zacks Research upgraded Axalta Coating Systems from a "strong sell" rating to a "hold" rating in a research report on Monday. Finally, Citigroup reiterated a "neutral" rating and issued a $34.00 price target (down previously from $35.00) on shares of Axalta Coating Systems in a research report on Friday, June 13th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Axalta Coating Systems presently has an average rating of "Moderate Buy" and an average target price of $37.71.

Insider Activity

In other Axalta Coating Systems news, SVP Amy Tufano sold 3,194 shares of the business'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 owned 12,087 shares in the company, valued at $375,422.22. The trade was a 20.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is owned by company insiders.

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.