Mackenzie Financial Corp Has $7.02 Million Stock Position in Axalta Coating Systems Ltd. (NYSE:AXTA)

Mackenzie Financial Corp grew its holdings in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 19.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 206,717 shares of the specialty chemicals company’s stock after purchasing an additional 34,217 shares during the period. Mackenzie Financial Corp’s holdings in Axalta Coating Systems were worth $7,022,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of AXTA. BlackRock Inc. raised its stake in shares of Axalta Coating Systems by 65.4% during the first quarter. BlackRock Inc. now owns 25,806,208 shares of the specialty chemicals company’s stock valued at $781,670,000 after acquiring an additional 10,208,408 shares during the last quarter. Millennium Management LLC raised its stake in Axalta Coating Systems by 5,915.6% during the fourth quarter. Millennium Management LLC now owns 5,193,950 shares of the specialty chemicals company’s stock worth $132,290,000 after buying an additional 5,107,608 shares during the last quarter. State Street Corp raised its stake in Axalta Coating Systems by 68.2% during the first quarter. State Street Corp now owns 6,639,964 shares of the specialty chemicals company’s stock worth $201,124,000 after buying an additional 2,692,774 shares during the last quarter. Norges Bank bought a new position in Axalta Coating Systems during the fourth quarter worth $53,517,000. Finally, Kinetic Partners Management LP bought a new position in Axalta Coating Systems during the third quarter worth $40,603,000. Institutional investors own 98.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on AXTA shares. Wells Fargo & Company lifted their target price on shares of Axalta Coating Systems from $31.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 9th. Citigroup lifted their target price 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. JPMorgan Chase & Co. lifted their price target on shares of Axalta Coating Systems from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Wolfe Research initiated coverage on shares of Axalta Coating Systems in a research note on Friday, March 1st. They issued a “peer perform” rating for the company. Finally, UBS Group downgraded shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and lifted their price target for the company from $35.00 to $36.00 in a research note on Monday, January 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $35.70.

Axalta Coating Systems Stock Down 3.0 %

Shares of NYSE AXTA opened at $30.87 on Friday. The stock has a market capitalization of $6.80 billion, a P/E ratio of 25.73, a P/E/G ratio of 1.03 and a beta of 1.51. The company has a 50-day moving average price of $32.67 and a 200-day moving average price of $31.55. Axalta Coating Systems Ltd. has a 1 year low of $25.03 and a 1 year high of $34.53. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.98 and a quick ratio of 1.46.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings results on Thursday, February 8th. The specialty chemicals company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.01). Axalta Coating Systems had a return on equity of 20.70% and a net margin of 5.16%. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter last year, the firm posted $0.38 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities research analysts forecast that Axalta Coating Systems Ltd. will post 1.88 EPS for the current fiscal year.

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.