Renaissance Technologies LLC Acquires 497,000 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Renaissance Technologies LLC boosted its holdings in Axalta Coating Systems Ltd. (NYSE:AXTA) by 59.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,329,700 shares of the specialty chemicals company’s stock after purchasing an additional 497,000 shares during the quarter. Renaissance Technologies LLC owned about 0.60% of Axalta Coating Systems worth $45,436,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in AXTA. Plato Investment Management Ltd purchased a new position in Axalta Coating Systems during the second quarter valued at $30,000. TFO Wealth Partners LLC increased its holdings in shares of Axalta Coating Systems by 12,022.2% during the fourth quarter. TFO Wealth Partners LLC now owns 1,091 shares of the specialty chemicals company’s stock valued at $37,000 after acquiring an additional 1,082 shares in the last quarter. Raleigh Capital Management Inc. purchased a new position in shares of Axalta Coating Systems in the 4th quarter worth about $48,000. GAMMA Investing LLC boosted its stake in Axalta Coating Systems by 111.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,417 shares of the specialty chemicals company’s stock worth $48,000 after purchasing an additional 747 shares in the last quarter. Finally, Versant Capital Management Inc purchased a new stake in Axalta Coating Systems during the 2nd quarter valued at about $71,000. 98.28% of the stock is currently owned by hedge funds and other institutional investors.

Axalta Coating Systems Stock Performance

Shares of NYSE AXTA opened at $35.70 on Wednesday. Axalta Coating Systems Ltd. has a 12-month low of $25.03 and a 12-month high of $37.49. The firm has a market capitalization of $7.88 billion, a price-to-earnings ratio of 32.16, a price-to-earnings-growth ratio of 0.81 and a beta of 1.44. The company has a current ratio of 2.26, a quick ratio of 1.70 and a debt-to-equity ratio of 1.97. The firm has a 50 day moving average of $35.00 and a 200 day moving average of $34.36.

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, topping 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 firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the business posted $0.35 EPS. Axalta Coating Systems’s revenue was up 4.4% on a year-over-year basis. On average, research analysts anticipate that Axalta Coating Systems Ltd. will post 2.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AXTA shares. UBS Group dropped their target price on shares of Axalta Coating Systems from $39.00 to $38.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Royal Bank of Canada lifted their target price on Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Barclays boosted their price target on Axalta Coating Systems from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Robert W. Baird lifted their price objective on Axalta Coating Systems from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. upped their target price on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Two research 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

About Axalta Coating Systems

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.