Point72 Asset Management L.P. Trims Position in Axalta Coating Systems Ltd (NYSE:AXTA)

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Point72 Asset Management L.P. lessened its holdings in shares of Axalta Coating Systems Ltd (NYSE:AXTA) by 68.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 541,668 shares of the specialty chemicals company’s stock after selling 1,188,243 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.23% of Axalta Coating Systems worth $16,467,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Bourgeon Capital Management LLC bought a new position in Axalta Coating Systems in the 4th quarter worth $27,000. Citizens Financial Group Inc RI purchased a new position in shares of Axalta Coating Systems during the fourth quarter valued at about $29,000. Acadian Asset Management LLC bought a new position in Axalta Coating Systems in the fourth quarter worth about $107,000. Advisor Group Inc. raised its stake in Axalta Coating Systems by 11.8% in the fourth quarter. Advisor Group Inc. now owns 3,673 shares of the specialty chemicals company’s stock worth $112,000 after buying an additional 387 shares in the last quarter. Finally, Emerald Advisers LLC bought a new position in Axalta Coating Systems in the fourth quarter worth about $172,000. Institutional investors own 94.58% of the company’s stock.

Shares of AXTA traded up $0.95 during mid-day trading on Thursday, reaching $17.47. The company had a trading volume of 7,173,089 shares, compared to its average volume of 3,328,096. The company has a debt-to-equity ratio of 2.69, a quick ratio of 1.85 and a current ratio of 2.40. The firm has a 50-day moving average price of $24.33 and a 200 day moving average price of $28.40. Axalta Coating Systems Ltd has a 52 week low of $12.92 and a 52 week high of $32.20. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 1.18 and a beta of 1.46.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $0.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.01). Axalta Coating Systems had a net margin of 5.56% and a return on equity of 31.81%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the business earned $0.32 EPS. The firm’s quarterly revenue was down 5.8% on a year-over-year basis. As a group, research analysts forecast that Axalta Coating Systems Ltd will post 1.8 earnings per share for the current fiscal year.

Several analysts have weighed in on AXTA shares. Royal Bank of Canada reaffirmed a “buy” rating and set a $20.00 price objective on shares of Axalta Coating Systems in a research report on Thursday. BMO Capital Markets raised Axalta Coating Systems from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $38.00 to $35.00 in a research report on Monday, February 3rd. Bank of America upgraded Axalta Coating Systems from a “neutral” rating to a “buy” rating in a research note on Monday. KeyCorp initiated coverage on Axalta Coating Systems in a research report on Wednesday. They set an “overweight” rating and a $23.00 price target on the stock. Finally, Wells Fargo & Co reduced their price target on Axalta Coating Systems from $31.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $28.91.

Axalta Coating Systems Company Profile

Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings systems. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers water and solvent borne products and systems that are used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.

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Institutional Ownership by Quarter for Axalta Coating Systems (NYSE:AXTA)

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