Axalta Coating Systems Ltd. (NYSE:AXTA) Shares Purchased by Bank of Montreal Can

Bank of Montreal Can increased its stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 635.1% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 392,877 shares of the specialty chemicals company’s stock after purchasing an additional 339,434 shares during the period. Bank of Montreal Can owned approximately 0.18% of Axalta Coating Systems worth $13,448,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in AXTA. Wells Fargo & Company MN grew its stake in shares of Axalta Coating Systems by 11.9% in the fourth quarter. Wells Fargo & Company MN now owns 342,669 shares of the specialty chemicals company’s stock valued at $11,640,000 after buying an additional 36,395 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in Axalta Coating Systems by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 98,131 shares of the specialty chemicals company’s stock valued at $3,334,000 after acquiring an additional 960 shares during the period. TFO Wealth Partners LLC grew its position in Axalta Coating Systems by 12,022.2% in the 4th 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. Capstone Investment Advisors LLC purchased a new stake in Axalta Coating Systems during the fourth quarter worth about $252,000. Finally, Bank of Nova Scotia acquired a new stake in shares of Axalta Coating Systems during the fourth quarter worth about $1,736,000. Institutional investors and hedge funds own 98.28% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AXTA shares. KeyCorp upped their target price 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, August 2nd. JPMorgan Chase & Co. upped their price objective on Axalta Coating Systems from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Robert W. Baird lifted their target price on Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Wells Fargo & Company upgraded Axalta Coating Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 11th. Finally, UBS Group decreased their price objective on Axalta Coating Systems from $39.00 to $38.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Axalta Coating Systems presently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Axalta Coating Systems Price Performance

Shares of NYSE AXTA opened at $37.25 on Friday. The stock’s 50-day simple moving average is $35.16 and its 200-day simple moving average is $34.55. The firm has a market capitalization of $8.22 billion, a PE ratio of 33.56, a price-to-earnings-growth ratio of 0.85 and a beta of 1.44. Axalta Coating Systems Ltd. has a fifty-two week low of $25.03 and a fifty-two week high of $37.78. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.70 and a current ratio of 2.26.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings data on Thursday, August 1st. The specialty chemicals company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.06. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. Axalta Coating Systems had a net margin of 5.69% and a return on equity of 24.28%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 EPS. As a group, equities research analysts forecast that Axalta Coating Systems Ltd. will post 2.07 EPS for the current fiscal year.

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.