National Bank of Canada FI Sells 253,484 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

National Bank of Canada FI lowered its stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 34.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 492,816 shares of the specialty chemicals company’s stock after selling 253,484 shares during the period. National Bank of Canada FI owned approximately 0.22% of Axalta Coating Systems worth $16,608,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in AXTA. TFO Wealth Partners LLC raised its stake in Axalta Coating Systems by 12,022.2% during the 4th quarter. TFO Wealth Partners LLC now owns 1,091 shares of the specialty chemicals company’s stock worth $37,000 after buying an additional 1,082 shares during the period. Raleigh Capital Management Inc. bought a new stake in shares of Axalta Coating Systems during the fourth quarter valued at approximately $48,000. GAMMA Investing LLC raised its position in shares of Axalta Coating Systems by 111.5% during the second quarter. GAMMA Investing LLC now owns 1,417 shares of the specialty chemicals company’s stock worth $48,000 after purchasing an additional 747 shares during the period. Versant Capital Management Inc bought a new position in shares of Axalta Coating Systems in the 2nd quarter worth $71,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in Axalta Coating Systems in the 4th quarter valued at $88,000. Institutional investors own 98.28% of the company’s stock.

Axalta Coating Systems Price Performance

Shares of NYSE:AXTA opened at $34.57 on Friday. The company has a market capitalization of $7.63 billion, a P/E ratio of 31.14, a price-to-earnings-growth ratio of 0.86 and a beta of 1.44. The company’s 50-day moving average is $34.89 and its 200 day moving average is $34.23. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.70 and a current ratio of 2.26. Axalta Coating Systems Ltd. has a fifty-two week low of $25.03 and a fifty-two week high of $37.49.

Axalta Coating Systems (NYSE:AXTA) last released its earnings results on Thursday, August 1st. The specialty chemicals company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. Axalta Coating Systems had a net margin of 5.69% and a return on equity of 24.28%. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the company earned $0.35 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. On average, equities research analysts forecast that Axalta Coating Systems Ltd. will post 2.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AXTA. KeyCorp raised their price objective on shares of Axalta Coating Systems from $40.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Barclays raised their price target on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Royal Bank of Canada boosted their price objective on Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Wells Fargo & Company upgraded Axalta Coating Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 11th. Finally, UBS Group decreased their price target on Axalta Coating Systems from $39.00 to $38.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.00.

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.