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

Point72 Hong Kong Ltd raised its holdings in Axalta Coating Systems Ltd. (NYSE:AXTA) by 578.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,597 shares of the specialty chemicals company’s stock after purchasing an additional 57,631 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Axalta Coating Systems were worth $2,446,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. True Wealth Design LLC acquired a new stake in shares of Axalta Coating Systems during the 3rd quarter worth about $37,000. Maverick Capital Ltd. boosted its position in shares of Axalta Coating Systems by 15.3% during the 3rd quarter. Maverick Capital Ltd. now owns 40,552 shares of the specialty chemicals company’s stock worth $1,468,000 after purchasing an additional 5,374 shares during the period. PDT Partners LLC increased its holdings in Axalta Coating Systems by 39.5% in the 3rd quarter. PDT Partners LLC now owns 85,068 shares of the specialty chemicals company’s stock valued at $3,079,000 after purchasing an additional 24,105 shares during the last quarter. Verition Fund Management LLC raised its position in Axalta Coating Systems by 55.6% in the third quarter. Verition Fund Management LLC now owns 621,376 shares of the specialty chemicals company’s stock valued at $22,488,000 after purchasing an additional 221,943 shares during the period. Finally, Captrust Financial Advisors lifted its stake in Axalta Coating Systems by 12.9% during the third quarter. Captrust Financial Advisors now owns 18,940 shares of the specialty chemicals company’s stock worth $685,000 after purchasing an additional 2,165 shares in the last quarter. Institutional investors and hedge funds own 98.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AXTA shares. Barclays lifted their price objective on Axalta Coating Systems from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Royal Bank of Canada boosted their price target on shares of Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. raised their price objective on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Evercore ISI began coverage on shares of Axalta Coating Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $47.00 price objective for the company. Finally, BMO Capital Markets increased their target price on shares of Axalta Coating Systems from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $42.45.

Axalta Coating Systems Stock Performance

Shares of AXTA stock opened at $40.46 on Monday. Axalta Coating Systems Ltd. has a 12 month low of $30.40 and a 12 month high of $41.65. The company has a current ratio of 2.00, a quick ratio of 1.42 and a debt-to-equity ratio of 1.80. The company has a market cap of $8.82 billion, a P/E ratio of 27.34, a PEG ratio of 0.87 and a beta of 1.43. The firm has a fifty day moving average price of $37.77 and a 200 day moving average price of $35.98.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings data on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.08. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.45 EPS. Sell-side analysts predict that Axalta Coating Systems Ltd. will post 2.16 earnings per share for the current fiscal year.

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.