Axalta Coating Systems Ltd. (NYSE:AXTA) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its stake in Axalta Coating Systems Ltd. (NYSE:AXTA) by 29.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 402,150 shares of the specialty chemicals company’s stock after selling 169,519 shares during the period. Envestnet Asset Management Inc. owned 0.18% of Axalta Coating Systems worth $13,741,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of AXTA. Locust Wood Capital Advisers LLC boosted its stake in Axalta Coating Systems by 63.8% in the first quarter. Locust Wood Capital Advisers LLC now owns 3,198,290 shares of the specialty chemicals company’s stock valued at $109,989,000 after acquiring an additional 1,245,223 shares in the last quarter. Vanguard Group Inc. grew its stake in Axalta Coating Systems by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 23,763,601 shares of the specialty chemicals company’s stock worth $817,230,000 after buying an additional 554,806 shares during the last quarter. Victory Capital Management Inc. increased its position in Axalta Coating Systems by 5.6% during the second quarter. Victory Capital Management Inc. now owns 10,403,246 shares of the specialty chemicals company’s stock worth $355,479,000 after buying an additional 550,970 shares during the period. Westwood Holdings Group Inc. lifted its stake in Axalta Coating Systems by 1,424.5% in the first quarter. Westwood Holdings Group Inc. now owns 545,089 shares of the specialty chemicals company’s stock valued at $18,746,000 after buying an additional 509,333 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in Axalta Coating Systems by 4,604.3% in the fourth quarter. Cubist Systematic Strategies LLC now owns 435,429 shares of the specialty chemicals company’s stock valued at $14,792,000 after buying an additional 426,173 shares during the last quarter. 98.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Axalta Coating Systems Price Performance

Axalta Coating Systems stock opened at $36.45 on Wednesday. The company has a market cap of $8.04 billion, a P/E ratio of 32.84, a price-to-earnings-growth ratio of 0.81 and a beta of 1.44. Axalta Coating Systems Ltd. has a one year low of $25.03 and a one year high of $37.49. The business has a fifty day moving average of $35.09 and a two-hundred day moving average of $34.49. 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 (NYSE:AXTA) last released its quarterly earnings data on Thursday, August 1st. The specialty chemicals company reported $0.57 EPS for the quarter, topping 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 firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the firm earned $0.35 earnings per share. The firm’s revenue was up 4.4% on a year-over-year basis. As a group, analysts predict that Axalta Coating Systems Ltd. will post 2.07 earnings per share for the current fiscal year.

Axalta Coating Systems 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.