Bank of Montreal Can Sells 271,550 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Bank of Montreal Can cut its holdings in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 69.1% in the 3rd quarter, Holdings Channel reports. The firm owned 121,327 shares of the specialty chemicals company’s stock after selling 271,550 shares during the period. Bank of Montreal Can’s holdings in Axalta Coating Systems were worth $4,519,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Plato Investment Management Ltd acquired a new position in shares of Axalta Coating Systems during the 2nd quarter worth $30,000. First Horizon Advisors Inc. grew its position in Axalta Coating Systems by 35.2% in the third quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company’s stock valued at $37,000 after acquiring an additional 266 shares during the last quarter. GAMMA Investing LLC raised its stake 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 worth $48,000 after acquiring an additional 747 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Axalta Coating Systems in the 3rd quarter valued at approximately $54,000. Finally, UMB Bank n.a. grew its holdings 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. Institutional investors and hedge funds own 98.28% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Royal Bank of Canada increased their price objective 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. Barclays raised their price objective on Axalta Coating Systems from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, November 1st. BMO Capital Markets upped their target price on Axalta Coating Systems from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Mizuho increased their target price on Axalta Coating Systems from $42.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, Evercore ISI assumed coverage on Axalta Coating Systems in a report on Wednesday, November 13th. They set an “outperform” rating and a $47.00 price target on the stock. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Axalta Coating Systems presently has an average rating of “Buy” and an average price target of $42.45.

Axalta Coating Systems Stock Down 0.6 %

Axalta Coating Systems stock opened at $40.33 on Wednesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.42 and a current ratio of 2.00. Axalta Coating Systems Ltd. has a 52-week low of $30.40 and a 52-week high of $41.65. The firm has a 50 day moving average price of $37.93 and a two-hundred day moving average price of $36.05. The firm has a market cap of $8.79 billion, a price-to-earnings ratio of 27.25, a PEG ratio of 0.87 and a beta of 1.44.

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