AQR Capital Management LLC Has $26.82 Million Stock Position in Axalta Coating Systems Ltd. (NYSE:AXTA)

AQR Capital Management LLC boosted its position in Axalta Coating Systems Ltd. (NYSE:AXTA) by 126.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 794,454 shares of the specialty chemicals company’s stock after buying an additional 443,946 shares during the quarter. AQR Capital Management LLC’s holdings in Axalta Coating Systems were worth $26,817,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Axalta Coating Systems in the second quarter valued at about $82,000. HITE Hedge Asset Management LLC acquired a new position in shares of Axalta Coating Systems during the 2nd quarter worth about $7,212,000. Cubist Systematic Strategies LLC boosted its stake in Axalta Coating Systems by 86.2% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 472,658 shares of the specialty chemicals company’s stock valued at $16,151,000 after purchasing an additional 218,863 shares during the period. Appian Way Asset Management LP acquired a new stake in Axalta Coating Systems in the 2nd quarter valued at approximately $3,307,000. Finally, Point72 DIFC Ltd bought a new position in Axalta Coating Systems in the 2nd quarter worth approximately $936,000. Institutional investors own 98.28% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada raised their price objective on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. UBS Group decreased their price target on shares of Axalta Coating Systems from $39.00 to $38.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. JPMorgan Chase & Co. upped 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. Wells Fargo & Company raised Axalta Coating Systems from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 11th. Finally, Barclays upped their price target on Axalta Coating Systems from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Two 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Axalta Coating Systems Stock Down 0.4 %

NYSE AXTA opened at $37.25 on Monday. Axalta Coating Systems Ltd. has a 1-year low of $25.03 and a 1-year high of $37.78. 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’s 50 day moving average is $35.16 and its two-hundred day moving average is $34.56. The company has a market capitalization of $8.22 billion, a price-to-earnings ratio of 33.56, a PEG 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 earnings per share for the quarter, beating analysts’ consensus estimates 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 prior year, the business posted $0.35 earnings per share. Equities analysts forecast 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.