Point72 Asia Singapore Pte. Ltd. Buys New Position in Axalta Coating Systems Ltd. (NYSE:AXTA)

Point72 Asia Singapore Pte. Ltd. bought a new stake in Axalta Coating Systems Ltd. (NYSE:AXTA) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,388 shares of the specialty chemicals company’s stock, valued at approximately $82,000.

Other institutional investors also recently added to or reduced their stakes in the company. HITE Hedge Asset Management LLC bought a new position in shares of Axalta Coating Systems during the 2nd quarter worth approximately $7,212,000. Cubist Systematic Strategies LLC raised its stake in shares of Axalta Coating Systems by 86.2% during the second quarter. Cubist Systematic Strategies LLC now owns 472,658 shares of the specialty chemicals company’s stock worth $16,151,000 after buying an additional 218,863 shares during the last quarter. Appian Way Asset Management LP acquired a new position in shares of Axalta Coating Systems in the 2nd quarter valued at $3,307,000. Point72 DIFC Ltd bought a new stake in Axalta Coating Systems in the second quarter valued at about $936,000. Finally, Sagefield Capital LP lifted its stake in Axalta Coating Systems by 24.1% in the second quarter. Sagefield Capital LP now owns 34,963 shares of the specialty chemicals company’s stock valued at $1,195,000 after buying an additional 6,791 shares during the period. 98.28% of the stock is owned by institutional investors.

Axalta Coating Systems Stock Performance

Shares of NYSE AXTA opened at $37.25 on Monday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.70 and a current ratio of 2.26. The stock has a 50 day moving average price of $35.16 and a 200 day moving average price of $34.56. The stock has a market capitalization of $8.22 billion, a PE ratio of 33.56, a price-to-earnings-growth ratio of 0.85 and a beta of 1.44. Axalta Coating Systems Ltd. has a 52 week low of $25.03 and a 52 week high of $37.78.

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, beating the consensus estimate of $0.51 by $0.06. Axalta Coating Systems had a return on equity of 24.28% and a net margin of 5.69%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the firm posted $0.35 EPS. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. Analysts predict that Axalta Coating Systems Ltd. will post 2.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AXTA shares. UBS Group lowered their price target on Axalta Coating Systems from $39.00 to $38.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Wells Fargo & Company raised shares of Axalta Coating Systems from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 11th. KeyCorp raised their price objective 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. JPMorgan Chase & Co. increased their target price on Axalta Coating Systems from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, Royal Bank of Canada upped their price objective on Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

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.