Franklin Resources Inc. Boosts Stock Position in Axalta Coating Systems Ltd. (NYSE:AXTA)

Franklin Resources Inc. raised its holdings in Axalta Coating Systems Ltd. (NYSE:AXTA) by 62.7% during the third quarter, HoldingsChannel.com reports. The firm owned 138,081 shares of the specialty chemicals company’s stock after buying an additional 53,222 shares during the period. Franklin Resources Inc.’s holdings in Axalta Coating Systems were worth $5,097,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Plato Investment Management Ltd acquired a new stake in Axalta Coating Systems in the second quarter valued at $30,000. First Horizon Advisors Inc. increased its position in shares of Axalta Coating Systems by 35.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 266 shares during the last quarter. True Wealth Design LLC acquired a new stake in shares of Axalta Coating Systems in the 3rd quarter valued at about $37,000. Millburn Ridgefield Corp bought a new position in shares of Axalta Coating Systems during the third quarter worth about $41,000. Finally, Capital Performance Advisors LLP acquired a new position in Axalta Coating Systems in the third quarter worth about $54,000. 98.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Evercore ISI started coverage on Axalta Coating Systems in a research note on Wednesday, November 13th. They set an “outperform” rating and a $47.00 price objective on the stock. Barclays raised their price objective on Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. KeyCorp reiterated a “sector weight” rating on shares of Axalta Coating Systems in a research note on Tuesday, December 17th. BMO Capital Markets raised their price target on shares of Axalta Coating Systems from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Citigroup downgraded shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $45.00 to $41.00 in a research report on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

Axalta Coating Systems Price Performance

Shares of NYSE:AXTA opened at $34.35 on Tuesday. The firm’s 50 day moving average is $38.37 and its two-hundred day moving average is $36.30. The firm has a market capitalization of $7.49 billion, a P/E ratio of 23.21, a PEG ratio of 0.83 and a beta of 1.44. 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 52 week low of $30.40 and a 52 week high of $41.65.

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