Creative Planning Boosts Stake in Axalta Coating Systems Ltd. (NYSE:AXTA)

Creative Planning lifted its position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 33.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,449 shares of the specialty chemicals company’s stock after acquiring an additional 2,898 shares during the quarter. Creative Planning’s holdings in Axalta Coating Systems were worth $414,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of AXTA. GSA Capital Partners LLP purchased a new stake in shares of Axalta Coating Systems during the 1st quarter worth about $877,000. Texas Permanent School Fund Corp boosted its stake in shares of Axalta Coating Systems by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 192,614 shares of the specialty chemicals company’s stock worth $6,624,000 after acquiring an additional 2,494 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Axalta Coating Systems by 4.8% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 20,454 shares of the specialty chemicals company’s stock worth $703,000 after acquiring an additional 938 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Axalta Coating Systems during the 1st quarter worth about $3,871,000. Finally, Headlands Technologies LLC purchased a new position in Axalta Coating Systems in the 1st quarter valued at about $172,000. 98.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AXTA. Royal Bank of Canada raised their price target on shares of Axalta Coating Systems from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. raised their price target on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Robert W. Baird raised 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 note on Friday, August 2nd. KeyCorp raised their price target on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, Barclays raised their price target on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Axalta Coating Systems has a consensus rating of “Moderate Buy” and an average target price of $41.70.

Axalta Coating Systems Stock Up 0.7 %

AXTA stock opened at $39.79 on Friday. The company has a market cap of $8.68 billion, a price-to-earnings ratio of 26.89, a PEG ratio of 0.82 and a beta of 1.43. The company has a current ratio of 2.00, a quick ratio of 1.42 and a debt-to-equity ratio of 1.80. Axalta Coating Systems Ltd. has a 12 month low of $29.00 and a 12 month high of $40.10. The firm has a 50-day moving average of $36.16 and a two-hundred day moving average of $35.23.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings data on Wednesday, October 30th. The specialty chemicals company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.32 billion. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. Axalta Coating Systems’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.45 EPS. As a group, analysts forecast that Axalta Coating Systems Ltd. will post 2.16 earnings per share for the current fiscal year.

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.