Park Avenue Securities LLC Decreases Position in Axalta Coating Systems Ltd. (NYSE:AXTA)

Park Avenue Securities LLC trimmed its holdings in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 7.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,196 shares of the specialty chemicals company’s stock after selling 1,550 shares during the period. Park Avenue Securities LLC’s holdings in Axalta Coating Systems were worth $731,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Plato Investment Management Ltd purchased a new stake in Axalta Coating Systems during the second quarter valued at about $30,000. Raleigh Capital Management Inc. purchased a new stake in Axalta Coating Systems during the fourth quarter valued at about $48,000. GAMMA Investing LLC boosted its position in Axalta Coating Systems by 111.5% during the second quarter. GAMMA Investing LLC now owns 1,417 shares of the specialty chemicals company’s stock valued at $48,000 after buying an additional 747 shares during the period. Versant Capital Management Inc purchased a new stake in Axalta Coating Systems during the second quarter valued at about $71,000. Finally, Quarry LP purchased a new stake in Axalta Coating Systems during the second quarter valued at about $73,000. 98.28% of the stock is currently owned by hedge funds and other institutional investors.

Axalta Coating Systems Price Performance

AXTA stock opened at $36.60 on Friday. Axalta Coating Systems Ltd. has a 1 year low of $25.03 and a 1 year high of $37.78. The firm has a 50-day moving average of $35.31 and a 200 day moving average of $34.70. The company has a market cap of $8.08 billion, a P/E ratio of 32.97, a PEG ratio of 0.85 and a beta of 1.44. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.26 and a quick ratio of 1.70.

Axalta Coating Systems (NYSE:AXTA) last announced its 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. Axalta Coating Systems had a net margin of 5.69% and a return on equity of 24.28%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the firm earned $0.35 earnings per share. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, sell-side analysts forecast that Axalta Coating Systems Ltd. will post 2.07 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on AXTA shares. UBS Group cut their price target on shares of Axalta Coating Systems from $39.00 to $38.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. JPMorgan Chase & Co. increased their target price on shares of 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 increased their target price on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Barclays increased their target price on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. 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 report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Axalta Coating Systems has a consensus rating of “Moderate Buy” and an average price target 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.