Point72 Hong Kong Ltd Boosts Stake in Axalta Coating Systems Ltd. (NYSE:AXTA)

Point72 Hong Kong Ltd increased its position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 578.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 67,597 shares of the specialty chemicals company’s stock after buying an additional 57,631 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Axalta Coating Systems were worth $2,446,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in AXTA. Federated Hermes Inc. increased its stake in Axalta Coating Systems by 3.0% in the second quarter. Federated Hermes Inc. now owns 896,188 shares of the specialty chemicals company’s stock valued at $30,623,000 after purchasing an additional 25,717 shares during the period. AQR Capital Management LLC increased its position in Axalta Coating Systems by 126.7% in the 2nd quarter. AQR Capital Management LLC now owns 794,454 shares of the specialty chemicals company’s stock valued at $26,817,000 after acquiring an additional 443,946 shares during the period. Dynamic Technology Lab Private Ltd raised its stake in Axalta Coating Systems by 68.4% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 36,191 shares of the specialty chemicals company’s stock valued at $1,310,000 after acquiring an additional 14,704 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Axalta Coating Systems by 8.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,771,023 shares of the specialty chemicals company’s stock worth $128,852,000 after acquiring an additional 302,752 shares during the period. Finally, Savant Capital LLC purchased a new position in shares of Axalta Coating Systems in the 2nd quarter valued at approximately $541,000. Institutional investors and hedge funds own 98.28% of the company’s stock.

Axalta Coating Systems Price Performance

AXTA stock opened at $40.46 on Monday. The firm has a 50 day moving average of $37.77 and a 200-day moving average of $35.98. The company has a market cap of $8.82 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 0.87 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 $30.40 and a 12-month high of $41.65.

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

Analysts Set New Price Targets

Several research firms have recently commented on AXTA. 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 target for the company. KeyCorp upped their price objective on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. raised their target price on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Mizuho boosted their price target on shares of Axalta Coating Systems from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, BMO Capital Markets raised their price objective on shares of Axalta Coating Systems from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $42.45.

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.