Maverick Capital Ltd. Acquires 22,135 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Maverick Capital Ltd. grew its holdings in Axalta Coating Systems Ltd. (NYSE:AXTA) by 169.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,178 shares of the specialty chemicals company’s stock after acquiring an additional 22,135 shares during the period. Maverick Capital Ltd.’s holdings in Axalta Coating Systems were worth $1,202,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Locust Wood Capital Advisers LLC increased its stake in shares of Axalta Coating Systems by 63.8% in the 1st quarter. Locust Wood Capital Advisers LLC now owns 3,198,290 shares of the specialty chemicals company’s stock worth $109,989,000 after purchasing an additional 1,245,223 shares in the last quarter. Interval Partners LP increased its position in Axalta Coating Systems by 716.6% in the second quarter. Interval Partners LP now owns 1,224,961 shares of the specialty chemicals company’s stock worth $41,857,000 after buying an additional 1,074,961 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Axalta Coating Systems by 2.4% in the first quarter. Vanguard Group Inc. now owns 23,763,601 shares of the specialty chemicals company’s stock worth $817,230,000 after buying an additional 554,806 shares during the period. Victory Capital Management Inc. lifted its position in shares of Axalta Coating Systems by 5.6% during the 2nd quarter. Victory Capital Management Inc. now owns 10,403,246 shares of the specialty chemicals company’s stock valued at $355,479,000 after buying an additional 550,970 shares in the last quarter. Finally, Westwood Holdings Group Inc. grew its stake in shares of Axalta Coating Systems by 1,424.5% during the 1st quarter. Westwood Holdings Group Inc. now owns 545,089 shares of the specialty chemicals company’s stock valued at $18,746,000 after acquiring an additional 509,333 shares during the period. Hedge funds and other institutional investors own 98.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AXTA. 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. 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 report on Monday, August 5th. KeyCorp lifted their target price 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. Robert W. Baird increased their price target on Axalta Coating Systems from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada boosted their price objective on 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 assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Axalta Coating Systems Stock Down 0.4 %

AXTA opened at $37.25 on Friday. Axalta Coating Systems Ltd. has a 52 week low of $25.03 and a 52 week high of $37.78. The company has a quick ratio of 1.70, a current ratio of 2.26 and a debt-to-equity ratio of 1.97. The firm has a 50-day simple moving average of $35.12 and a two-hundred day simple moving average of $34.52. The company has a market capitalization of $8.22 billion, a PE ratio of 33.56, a price-to-earnings-growth ratio of 0.85 and a beta of 1.44.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings results on Thursday, August 1st. The specialty chemicals company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. Axalta Coating Systems had a return on equity of 24.28% and a net margin of 5.69%. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the company earned $0.35 earnings per share. The firm’s revenue was up 4.4% on a year-over-year basis. Analysts forecast that Axalta Coating Systems Ltd. will post 2.07 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.