Teachers Retirement System of The State of Kentucky Decreases Position in Axalta Coating Systems Ltd. (NYSE:AXTA)

Teachers Retirement System of The State of Kentucky lessened its holdings in Axalta Coating Systems Ltd. (NYSE:AXTA) by 2.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 131,671 shares of the specialty chemicals company’s stock after selling 3,781 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.06% of Axalta Coating Systems worth $4,528,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of Nova Scotia purchased a new position in Axalta Coating Systems in the 4th quarter valued at approximately $1,736,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Axalta Coating Systems in the 1st quarter valued at $3,871,000. GSA Capital Partners LLP acquired a new stake in shares of Axalta Coating Systems in the 1st quarter valued at $877,000. Vanguard Group Inc. raised its holdings in shares of Axalta Coating Systems by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 23,763,601 shares of the specialty chemicals company’s stock valued at $817,230,000 after purchasing an additional 554,806 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in shares of Axalta Coating Systems by 13.0% in the 4th quarter. Assetmark Inc. now owns 251,081 shares of the specialty chemicals company’s stock valued at $8,529,000 after purchasing an additional 28,836 shares in the last quarter. Hedge funds and other institutional investors own 98.28% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AXTA. JPMorgan Chase & Co. raised their price objective on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Mizuho raised their price objective on shares of Axalta Coating Systems from $38.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Citigroup lifted their price target on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. KeyCorp lifted their price target on shares of Axalta Coating Systems from $40.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Barclays lifted their price target on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Axalta Coating Systems presently has a consensus rating of “Moderate Buy” and an average target price of $39.91.

Axalta Coating Systems Stock Performance

NYSE AXTA traded down $1.43 during trading on Friday, reaching $35.21. The company’s stock had a trading volume of 2,428,282 shares, compared to its average volume of 2,161,700. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.51 and a current ratio of 2.26. The firm has a market cap of $7.77 billion, a price-to-earnings ratio of 31.72, a P/E/G ratio of 0.91 and a beta of 1.44. Axalta Coating Systems Ltd. has a twelve month low of $25.03 and a twelve month high of $37.49. The business’s fifty day moving average price is $35.02 and its 200-day moving average price is $33.74.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings data on Thursday, August 1st. The specialty chemicals company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. Axalta Coating Systems had a net margin of 5.69% and a return on equity of 24.28%. Axalta Coating Systems’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.35 earnings per share. As a group, analysts anticipate that Axalta Coating Systems Ltd. will post 2.05 EPS 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.