Concentric Capital Strategies LP Trims Stake in Axalta Coating Systems Ltd. (NYSE:AXTA)

Concentric Capital Strategies LP lessened its holdings in Axalta Coating Systems Ltd. (NYSE:AXTA) by 66.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 60,960 shares of the specialty chemicals company’s stock after selling 122,865 shares during the period. Concentric Capital Strategies LP’s holdings in Axalta Coating Systems were worth $2,206,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AXTA. Plato Investment Management Ltd purchased a new stake in shares of Axalta Coating Systems in the 2nd quarter valued at about $30,000. First Horizon Advisors Inc. raised its stake in Axalta Coating Systems by 35.2% in the third quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 266 shares in the last quarter. True Wealth Design LLC purchased a new position in Axalta Coating Systems in the 3rd quarter worth approximately $37,000. GAMMA Investing LLC grew 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 buying an additional 747 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Axalta Coating Systems during the 3rd quarter valued at $54,000. Institutional investors own 98.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on AXTA shares. Royal Bank of Canada lifted their price target on shares of Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Evercore ISI initiated coverage on Axalta Coating Systems in a report on Wednesday, November 13th. They set an “outperform” rating and a $47.00 target price for the company. Barclays raised their price target on Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. BMO Capital Markets boosted their price objective on Axalta Coating Systems from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, KeyCorp raised their target price on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $42.45.

Axalta Coating Systems Stock Performance

Shares of AXTA stock opened at $40.57 on Tuesday. The company has a current ratio of 2.00, a quick ratio of 1.42 and a debt-to-equity ratio of 1.80. The company’s fifty day moving average price is $37.85 and its 200-day moving average price is $36.01. The stock has a market cap of $8.85 billion, a PE ratio of 27.41, a price-to-earnings-growth ratio of 0.87 and a beta of 1.43. 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 posted its quarterly earnings data on Wednesday, October 30th. The specialty chemicals company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.51 by $0.08. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the firm posted $0.45 earnings per share. Axalta Coating Systems’s quarterly revenue was up .8% on a year-over-year basis. On average, equities analysts expect that Axalta Coating Systems Ltd. will post 2.16 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.