Appian Way Asset Management LP Acquires New Holdings in Axalta Coating Systems Ltd. (NYSE:AXTA)

Appian Way Asset Management LP bought a new position in Axalta Coating Systems Ltd. (NYSE:AXTA) in the second quarter, HoldingsChannel.com reports. The fund bought 96,783 shares of the specialty chemicals company’s stock, valued at approximately $3,307,000. Axalta Coating Systems accounts for 0.8% of Appian Way Asset Management LP’s portfolio, making the stock its 23rd largest position.

A number of other hedge funds have also added to or reduced their stakes in the stock. Plato Investment Management Ltd purchased a new position in shares of Axalta Coating Systems in the second quarter worth approximately $30,000. TFO Wealth Partners LLC raised its position in Axalta Coating Systems by 12,022.2% in the fourth quarter. TFO Wealth Partners LLC now owns 1,091 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 1,082 shares during the period. Raleigh Capital Management Inc. purchased a new position in shares of Axalta Coating Systems during the 4th quarter worth $48,000. GAMMA Investing LLC grew its position in shares of Axalta Coating Systems by 111.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,417 shares of the specialty chemicals company’s stock valued at $48,000 after acquiring an additional 747 shares during the period. Finally, Versant Capital Management Inc purchased a new stake in shares of Axalta Coating Systems in the 2nd quarter worth $71,000. 98.28% of the stock is currently owned by hedge funds and other institutional investors.

Axalta Coating Systems Stock Performance

Shares of NYSE AXTA opened at $36.32 on Tuesday. The firm’s fifty day moving average is $35.09 and its two-hundred day moving average is $34.47. Axalta Coating Systems Ltd. has a 52-week low of $25.03 and a 52-week high of $37.49. The company has a market cap of $8.01 billion, a P/E ratio of 32.72, a P/E/G ratio of 0.81 and a beta of 1.44. 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 (NYSE:AXTA) last issued its earnings results on Thursday, August 1st. The specialty chemicals company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.06. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Axalta Coating Systems had a return on equity of 24.28% and a net margin of 5.69%. The business’s revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.35 earnings per share. As a group, analysts anticipate that Axalta Coating Systems Ltd. will post 2.07 EPS for the current fiscal year.

Analysts Set New Price Targets

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

About Axalta Coating Systems

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.