Raymond James & Associates Acquires 54,746 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Raymond James & Associates raised its stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 48.3% in the third quarter, Holdings Channel reports. The institutional investor owned 168,187 shares of the specialty chemicals company’s stock after buying an additional 54,746 shares during the quarter. Raymond James & Associates’ holdings in Axalta Coating Systems were worth $6,087,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Aaron Wealth Advisors LLC bought a new position in Axalta Coating Systems in the 3rd quarter valued at approximately $250,000. Kapitalo Investimentos Ltda bought a new stake in Axalta Coating Systems in the 3rd quarter worth approximately $273,000. Creative Planning boosted its stake in shares of Axalta Coating Systems by 33.9% in the 3rd quarter. Creative Planning now owns 11,449 shares of the specialty chemicals company’s stock worth $414,000 after buying an additional 2,898 shares during the last quarter. Simplicity Wealth LLC lifted its holdings in Axalta Coating Systems by 37.2% in the third quarter. Simplicity Wealth LLC now owns 12,820 shares of the specialty chemicals company’s stock valued at $464,000 after acquiring an additional 3,478 shares during the period. Finally, UMB Bank n.a. increased its position in shares of Axalta Coating Systems by 90.2% during the 3rd quarter. UMB Bank n.a. now owns 1,546 shares of the specialty chemicals company’s stock valued at $56,000 after purchasing an additional 733 shares during the last quarter. 98.28% of the stock is currently owned by institutional investors.

Axalta Coating Systems Stock Down 1.0 %

Shares of NYSE AXTA opened at $37.93 on Friday. The firm has a market capitalization of $8.37 billion, a price-to-earnings ratio of 34.17, a PEG ratio of 0.87 and a beta of 1.44. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.70 and a current ratio of 2.26. Axalta Coating Systems Ltd. has a 52-week low of $25.92 and a 52-week high of $38.77. The stock has a 50 day moving average price of $35.92 and a 200 day moving average price of $35.01.

Axalta Coating Systems (NYSE:AXTA) last posted its earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.32 billion. Axalta Coating Systems had a return on equity of 24.28% and a net margin of 5.69%. Axalta Coating Systems’s revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.45 earnings per share. Sell-side analysts expect that Axalta Coating Systems Ltd. will post 2.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AXTA shares. Mizuho boosted their price objective on shares of Axalta Coating Systems from $42.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday. JPMorgan Chase & Co. upped their price objective on Axalta Coating Systems from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. UBS Group lowered their target price on shares of Axalta Coating Systems from $39.00 to $38.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. KeyCorp boosted their price target on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Barclays increased their price target on Axalta Coating Systems from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Two equities research 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 company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $41.30.

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.