2,127 Shares in Axalta Coating Systems Ltd. (NYSE:AXTA) Bought by Quarry LP

Quarry LP acquired a new stake in Axalta Coating Systems Ltd. (NYSE:AXTA) during the second quarter, HoldingsChannel reports. The fund acquired 2,127 shares of the specialty chemicals company’s stock, valued at approximately $73,000.

Several other institutional investors also recently bought and sold shares of the company. Plato Investment Management Ltd acquired a new position in Axalta Coating Systems during the 2nd quarter worth approximately $30,000. TFO Wealth Partners LLC grew its holdings in Axalta Coating Systems by 12,022.2% during 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 Axalta Coating Systems in the fourth quarter worth $48,000. GAMMA Investing LLC lifted its holdings in Axalta Coating Systems by 111.5% in the second 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 during the 2nd quarter worth $71,000. 98.28% of the stock is owned by institutional investors and hedge funds.

Axalta Coating Systems Stock Down 1.6 %

Shares of NYSE:AXTA opened at $35.40 on Friday. The company has a market capitalization of $7.81 billion, a P/E ratio of 31.89, a P/E/G ratio of 0.85 and a beta of 1.44. The stock’s fifty day simple moving average is $35.24 and its 200-day simple moving average is $34.61. 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.

Axalta Coating Systems (NYSE:AXTA) last released its earnings results 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. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. Axalta Coating Systems had a net margin of 5.69% and a return on equity of 24.28%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.35 EPS. As a group, equities research analysts forecast that Axalta Coating Systems Ltd. will post 2.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company upgraded shares of Axalta Coating Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 11th. Robert W. Baird lifted their price target on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. upped their price target on Axalta Coating Systems from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Royal Bank of Canada lifted 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. Finally, KeyCorp boosted their target price on Axalta Coating Systems from $40.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.