Point72 Asia Singapore Pte. Ltd. Purchases Shares of 2,388 Axalta Coating Systems Ltd. (NYSE:AXTA)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in Axalta Coating Systems Ltd. (NYSE:AXTA) during the 2nd quarter, Holdings Channel reports. The firm purchased 2,388 shares of the specialty chemicals company’s stock, valued at approximately $82,000.

Other institutional investors have also recently modified their holdings of the company. Sanctuary Advisors LLC purchased a new stake in Axalta Coating Systems in the 2nd quarter valued at about $540,000. Truist Financial Corp boosted its position in shares of Axalta Coating Systems by 41.6% in the second quarter. Truist Financial Corp now owns 55,974 shares of the specialty chemicals company’s stock worth $1,913,000 after acquiring an additional 16,438 shares during the last quarter. Quarry LP purchased a new stake in Axalta Coating Systems in the second quarter valued at approximately $73,000. Creative Planning increased its position in Axalta Coating Systems by 45.7% during the second quarter. Creative Planning now owns 8,551 shares of the specialty chemicals company’s stock worth $292,000 after purchasing an additional 2,682 shares during the last quarter. Finally, Scientech Research LLC purchased a new position in Axalta Coating Systems during the second quarter worth approximately $269,000. 98.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Axalta Coating Systems Price Performance

Shares of NYSE AXTA opened at $35.63 on Friday. 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 company has a market capitalization of $7.86 billion, a price-to-earnings ratio of 32.10, a price-to-earnings-growth ratio of 0.85 and a beta of 1.44. Axalta Coating Systems Ltd. has a twelve month low of $25.03 and a twelve month high of $37.78. The business has a 50 day simple moving average of $35.26 and a 200-day simple moving average of $34.63.

Axalta Coating Systems (NYSE:AXTA) last released its earnings results on Thursday, August 1st. The specialty chemicals company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.06. The firm had revenue of $1.35 billion during 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 revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 earnings per share. As a group, equities research analysts expect that Axalta Coating Systems Ltd. will post 2.07 earnings per share for the current 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.