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

Point72 Hong Kong Ltd decreased its position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA - Free Report) by 70.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,870 shares of the specialty chemicals company's stock after selling 47,727 shares during the quarter. 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.

Several other hedge funds and other institutional investors have also recently modified their holdings of AXTA. American Century Companies Inc. lifted its position in shares of Axalta Coating Systems by 57.8% during the 4th quarter. American Century Companies Inc. now owns 356,017 shares of the specialty chemicals company's stock valued at $12,183,000 after buying an additional 130,427 shares during the last quarter. Principal Securities Inc. lifted its position in shares of Axalta Coating Systems by 5.5% during the 4th quarter. Principal Securities Inc. now owns 6,378 shares of the specialty chemicals company's stock valued at $218,000 after buying an additional 332 shares during the last quarter. Barclays PLC raised its stake in shares of Axalta Coating Systems by 50.4% during the 3rd quarter. Barclays PLC now owns 154,483 shares of the specialty chemicals company's stock valued at $5,589,000 after purchasing an additional 51,748 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Axalta Coating Systems by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,432,826 shares of the specialty chemicals company's stock valued at $49,031,000 after purchasing an additional 9,572 shares during the period. Finally, ING Groep NV bought a new stake in shares of Axalta Coating Systems during the 4th quarter valued at $6,160,000. Institutional investors own 98.28% of the company's stock.

Axalta Coating Systems Stock Performance

AXTA stock traded up $0.41 during trading on Thursday, hitting $31.70. 977,422 shares of the company traded hands, compared to its average volume of 2,021,854. The stock's 50-day simple moving average is $32.18 and its 200 day simple moving average is $35.33. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.01 and a quick ratio of 1.47. The company has a market cap of $6.93 billion, a PE ratio of 17.81, a P/E/G ratio of 0.92 and a beta of 1.35. Axalta Coating Systems Ltd. has a 1 year low of $27.70 and a 1 year high of $41.66.

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 EPS for the quarter, beating the consensus estimate of $0.54 by $0.05. Axalta Coating Systems had a return on equity of 26.29% and a net margin of 7.41%. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period last year, the company earned $0.48 earnings per share. Axalta Coating Systems's quarterly revenue was down 2.5% compared to the same quarter last year. On average, equities analysts expect that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AXTA. Wells Fargo & Company increased their price objective on Axalta Coating Systems from $37.00 to $40.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Mizuho set a $37.00 target price on Axalta Coating Systems in a report on Tuesday, April 15th. Barclays cut 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. BNP Paribas raised Axalta Coating Systems from a "neutral" rating to an "outperform" rating and set a $38.00 price target for the company in a report on Thursday, April 10th. Finally, The Goldman Sachs Group decreased their target price on Axalta Coating Systems from $46.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $40.38.

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.