PNC Financial Services Group Inc. increased its holdings in shares of Axalta Coating Systems Ltd. (NYSE:AXTA – Free Report) by 121.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,598 shares of the specialty chemicals company’s stock after buying an additional 30,530 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Axalta Coating Systems were worth $1,496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. KB Financial Partners LLC purchased a new position in Axalta Coating Systems during the 1st quarter worth $25,000. Itau Unibanco Holding S.A. purchased a new position in Axalta Coating Systems during the 2nd quarter worth $28,000. Spire Wealth Management grew its stake in Axalta Coating Systems by 53.0% during the 2nd quarter. Spire Wealth Management now owns 1,541 shares of the specialty chemicals company’s stock worth $51,000 after buying an additional 534 shares during the last quarter. CWM LLC grew its stake in Axalta Coating Systems by 35.6% during the 3rd quarter. CWM LLC now owns 2,474 shares of the specialty chemicals company’s stock valued at $67,000 after purchasing an additional 649 shares during the last quarter. Finally, SRS Capital Advisors Inc. grew its stake in Axalta Coating Systems by 21.6% during the 2nd quarter. SRS Capital Advisors Inc. now owns 5,160 shares of the specialty chemicals company’s stock valued at $169,000 after purchasing an additional 915 shares during the last quarter. 98.64% of the stock is currently owned by hedge funds and other institutional investors.
Axalta Coating Systems Stock Performance
NYSE AXTA opened at $32.22 on Friday. The stock has a market capitalization of $7.09 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.22 and a beta of 1.52. Axalta Coating Systems Ltd. has a twelve month low of $25.03 and a twelve month high of $34.45. The company has a current ratio of 1.98, a quick ratio of 1.46 and a debt-to-equity ratio of 1.96. The stock has a 50-day moving average of $32.70 and a 200 day moving average of $30.01.
Axalta Coating Systems (NYSE:AXTA – Get Free Report) last released its quarterly earnings results on Thursday, February 8th. The specialty chemicals company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. Axalta Coating Systems had a return on equity of 20.70% and a net margin of 5.16%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 EPS. Sell-side analysts anticipate that Axalta Coating Systems Ltd. will post 1.88 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on AXTA. UBS Group downgraded Axalta Coating Systems from a “buy” rating to a “neutral” rating and boosted their price target for the company from $35.00 to $36.00 in a research note on Monday, January 8th. Royal Bank of Canada boosted their price target on Axalta Coating Systems from $34.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, November 3rd. StockNews.com upgraded Axalta Coating Systems from a “hold” rating to a “buy” rating in a research note on Friday, November 3rd. Wells Fargo & Company boosted their price target on Axalta Coating Systems from $31.00 to $33.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 9th. Finally, JPMorgan Chase & Co. boosted their price target on Axalta Coating Systems from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.42.
Check Out Our Latest Analysis on Axalta Coating Systems
Insider Buying and Selling
In other Axalta Coating Systems news, SVP Hadi Awada sold 10,500 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $31.99, for a total transaction of $335,895.00. Following the completion of the transaction, the senior vice president now owns 14,656 shares of the company’s stock, valued at $468,845.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.40% of the stock is currently owned by 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. It operates through two segments, Performance Coatings and Mobility Coatings. The company offers water and solvent-borne products and systems to repair damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.
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