Point72 Hong Kong Ltd Trims Holdings in Axalta Coating Systems Ltd. (NYSE:AXTA)

Point72 Hong Kong Ltd trimmed its holdings in Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 70.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,870 shares of the specialty chemicals company's stock after selling 47,727 shares during the period. Point72 Hong Kong Ltd's holdings in Axalta Coating Systems were worth $680,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp boosted its stake in shares of Axalta Coating Systems by 60.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,318 shares of the specialty chemicals company's stock valued at $45,000 after purchasing an additional 498 shares during the period. UMB Bank n.a. raised its holdings in Axalta Coating Systems by 35.4% during the fourth quarter. UMB Bank n.a. now owns 2,093 shares of the specialty chemicals company's stock worth $72,000 after purchasing an additional 547 shares in the last quarter. Plato Investment Management Ltd raised its holdings in Axalta Coating Systems by 156.4% during the fourth quarter. Plato Investment Management Ltd now owns 2,238 shares of the specialty chemicals company's stock worth $77,000 after purchasing an additional 1,365 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in Axalta Coating Systems by 31.4% during the fourth quarter. Venturi Wealth Management LLC now owns 2,581 shares of the specialty chemicals company's stock worth $88,000 after purchasing an additional 617 shares in the last quarter. Finally, Headlands Technologies LLC raised its holdings in Axalta Coating Systems by 54.7% during the fourth quarter. Headlands Technologies LLC now owns 3,270 shares of the specialty chemicals company's stock worth $112,000 after purchasing an additional 1,156 shares in the last quarter. 98.28% of the stock is currently owned by institutional investors and hedge funds.

Axalta Coating Systems Trading Down 1.8%

Shares of NYSE AXTA traded down $0.57 on Tuesday, reaching $31.79. 1,792,020 shares of the company traded hands, compared to its average volume of 2,027,086. The company has a 50 day moving average of $32.28 and a 200 day moving average of $35.38. The stock has a market capitalization of $6.95 billion, a PE ratio of 17.86, a P/E/G ratio of 0.92 and a beta of 1.35. Axalta Coating Systems Ltd. has a fifty-two week low of $27.70 and a fifty-two week high of $41.66. The company has a current ratio of 2.01, a quick ratio of 1.47 and a debt-to-equity ratio of 1.74.

Axalta Coating Systems (NYSE:AXTA - Get Free Report) last issued 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. Axalta Coating Systems had a net margin of 7.41% and a return on equity of 26.29%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the company earned $0.48 earnings per share. Axalta Coating Systems's revenue for the quarter was down 2.5% on a year-over-year basis. On average, equities research analysts forecast that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AXTA has been the topic of a number of recent research reports. Mizuho set a $37.00 target price on shares of Axalta Coating Systems in a report on Tuesday, April 15th. JPMorgan Chase & Co. lowered shares of Axalta Coating Systems from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $42.00 to $32.00 in a research report on Thursday, May 8th. Morgan Stanley decreased their target price on shares of Axalta Coating Systems from $40.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. Barclays decreased their price objective on shares of Axalta Coating Systems from $45.00 to $42.00 and set an "overweight" rating on the stock in a research report on Thursday, May 15th. Finally, Citigroup cut their target price on shares of Axalta Coating Systems from $42.00 to $32.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $40.38.

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.