Point72 DIFC Ltd Purchases New Position in Axalta Coating Systems Ltd. (NYSE:AXTA)

Point72 DIFC Ltd acquired a new position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 27,389 shares of the specialty chemicals company’s stock, valued at approximately $936,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AXTA. Wedge Capital Management L L P NC lifted its position in shares of Axalta Coating Systems by 0.4% during the second quarter. Wedge Capital Management L L P NC now owns 110,555 shares of the specialty chemicals company’s stock worth $3,778,000 after purchasing an additional 453 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in Axalta Coating Systems by 9.0% in the first quarter. O Shaughnessy Asset Management LLC now owns 6,450 shares of the specialty chemicals company’s stock valued at $222,000 after acquiring an additional 530 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Axalta Coating Systems by 1.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 56,174 shares of the specialty chemicals company’s stock worth $1,908,000 after purchasing an additional 576 shares during the last quarter. Signaturefd LLC increased its position in shares of Axalta Coating Systems by 23.2% during the second quarter. Signaturefd LLC now owns 3,155 shares of the specialty chemicals company’s stock worth $108,000 after purchasing an additional 594 shares in the last quarter. Finally, Retirement Systems of Alabama increased its position in shares of Axalta Coating Systems by 0.3% during the first quarter. Retirement Systems of Alabama now owns 276,369 shares of the specialty chemicals company’s stock worth $9,504,000 after purchasing an additional 726 shares in the last quarter. 98.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Barclays raised their price objective on Axalta Coating Systems from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Robert W. Baird lifted their target price on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Wells Fargo & Company raised shares of Axalta Coating Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 11th. JPMorgan Chase & Co. lifted their price objective on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, KeyCorp increased their target price on shares of Axalta Coating Systems from $40.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Axalta Coating Systems Price Performance

NYSE:AXTA opened at $35.95 on Thursday. The company has a current ratio of 2.26, a quick ratio of 1.70 and a debt-to-equity ratio of 1.97. The stock has a 50 day moving average of $35.09 and a two-hundred day moving average of $34.49. The firm has a market cap of $7.88 billion, a P/E ratio of 32.38, a price-to-earnings-growth ratio of 0.85 and a beta of 1.44. Axalta Coating Systems Ltd. has a 12 month low of $25.03 and a 12 month high of $37.49.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings data on Thursday, August 1st. The specialty chemicals company reported $0.57 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the firm posted $0.35 earnings per share. Axalta Coating Systems’s quarterly revenue was up 4.4% on a year-over-year basis. On average, analysts expect that Axalta Coating Systems Ltd. will post 2.07 earnings per share for the current fiscal year.

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.