Axalta Coating Systems Ltd. (NYSE:AXTA) Shares Acquired by Cetera Investment Advisers

Cetera Investment Advisers grew its stake in Axalta Coating Systems Ltd. (NYSE:AXTA) by 57.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,233 shares of the specialty chemicals company’s stock after purchasing an additional 8,861 shares during the quarter. Cetera Investment Advisers’ holdings in Axalta Coating Systems were worth $804,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of Axalta Coating Systems by 3,005.3% in the 1st quarter. GAMMA Investing LLC now owns 76,855 shares of the specialty chemicals company’s stock valued at $2,549,000 after purchasing an additional 74,380 shares in the last quarter. Principal Financial Group Inc. raised its stake in Axalta Coating Systems by 0.4% during the first quarter. Principal Financial Group Inc. now owns 502,087 shares of the specialty chemicals company’s stock worth $16,654,000 after acquiring an additional 2,099 shares during the period. DAVENPORT & Co LLC acquired a new stake in Axalta Coating Systems during the first quarter worth about $204,000. Allspring Global Investments Holdings LLC acquired a new stake in Axalta Coating Systems during the first quarter worth about $572,000. Finally, New York State Teachers Retirement System raised its stake in Axalta Coating Systems by 12.1% during the first quarter. New York State Teachers Retirement System now owns 77,859 shares of the specialty chemicals company’s stock worth $2,583,000 after acquiring an additional 8,412 shares during the period. Institutional investors and hedge funds own 98.28% of the company’s stock.

Axalta Coating Systems Trading Up 4.3%

Axalta Coating Systems stock opened at $30.74 on Thursday. The firm has a 50 day simple moving average of $29.72 and a 200-day simple moving average of $32.23. The company has a debt-to-equity ratio of 1.47, a current ratio of 2.12 and a quick ratio of 1.53. The stock has a market capitalization of $6.66 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 1.41 and a beta of 1.27. Axalta Coating Systems Ltd. has a 12-month low of $27.58 and a 12-month high of $41.65.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings data on Wednesday, July 30th. The specialty chemicals company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.03. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Axalta Coating Systems had a net margin of 8.58% and a return on equity of 25.32%. The business’s revenue was down 3.4% on a year-over-year basis. During the same period last year, the firm posted $0.57 earnings per share. As a group, equities research analysts expect that Axalta Coating Systems Ltd. will post 2.55 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Royal Bank Of Canada dropped their price objective on shares of Axalta Coating Systems from $37.00 to $34.00 and set an “outperform” rating on the stock in a research note on Friday, August 1st. JPMorgan Chase & Co. lowered shares of Axalta Coating Systems from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $42.00 to $32.00 in a research note on Thursday, May 8th. Wall Street Zen lowered shares of Axalta Coating Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th. Mizuho dropped their price objective on shares of Axalta Coating Systems from $39.00 to $35.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 15th. Finally, Wells Fargo & Company dropped their price objective on shares of Axalta Coating Systems from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 1st. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Axalta Coating Systems currently has an average rating of “Moderate Buy” and a consensus price target of $37.71.

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.