IFP Advisors Inc Purchases New Stake in Axalta Coating Systems Ltd. $AXTA

IFP Advisors Inc purchased a new stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,321 shares of the specialty chemicals company’s stock, valued at approximately $39,000.

Several other institutional investors have also added to or reduced their stakes in the business. Louisiana State Employees Retirement System lifted its holdings in Axalta Coating Systems by 0.7% during the second quarter. Louisiana State Employees Retirement System now owns 61,500 shares of the specialty chemicals company’s stock valued at $1,826,000 after purchasing an additional 400 shares during the last quarter. KLP Kapitalforvaltning AS lifted its holdings in Axalta Coating Systems by 4.7% during the second quarter. KLP Kapitalforvaltning AS now owns 44,700 shares of the specialty chemicals company’s stock valued at $1,327,000 after purchasing an additional 2,000 shares during the last quarter. 111 Capital lifted its holdings in Axalta Coating Systems by 202.5% during the second quarter. 111 Capital now owns 25,424 shares of the specialty chemicals company’s stock valued at $755,000 after purchasing an additional 17,018 shares during the last quarter. Truist Financial Corp lifted its holdings in Axalta Coating Systems by 8.1% during the second quarter. Truist Financial Corp now owns 7,426 shares of the specialty chemicals company’s stock valued at $220,000 after purchasing an additional 556 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its holdings in Axalta Coating Systems by 1.0% during the second quarter. Public Employees Retirement System of Ohio now owns 72,794 shares of the specialty chemicals company’s stock valued at $2,161,000 after purchasing an additional 724 shares during the last quarter. 98.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Citigroup raised shares of Axalta Coating Systems from a “neutral” rating to a “buy” rating and upped their price objective for the company from $32.00 to $34.00 in a report on Monday, October 6th. Bank of America dropped their price objective on shares of Axalta Coating Systems from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Tuesday, October 14th. Evercore ISI reaffirmed an “in-line” rating and set a $32.00 price objective (down from $47.00) on shares of Axalta Coating Systems in a report on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft downgraded shares of Axalta Coating Systems from a “buy” rating to a “hold” rating and set a $32.00 price target on the stock. in a report on Friday, July 18th. Finally, Zacks Research raised shares of Axalta Coating Systems from a “strong sell” rating to a “hold” rating in a report on Monday, September 8th. Ten analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $36.75.

Axalta Coating Systems Trading Up 1.7%

Shares of AXTA opened at $29.01 on Wednesday. The firm’s 50 day simple moving average is $29.72 and its 200 day simple moving average is $30.26. The company has a market capitalization of $6.28 billion, a P/E ratio of 14.22, a P/E/G ratio of 1.52 and a beta of 1.25. The company has a debt-to-equity ratio of 1.47, a current ratio of 2.12 and a quick ratio of 1.53. Axalta Coating Systems Ltd. has a 1-year low of $26.28 and a 1-year high of $41.65.

Axalta Coating Systems (NYSE:AXTA) last announced its earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.33 billion. Axalta Coating Systems had a net margin of 8.58% and a return on equity of 25.32%. Axalta Coating Systems’s quarterly 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. Axalta Coating Systems has set its FY 2025 guidance at 2.450-2.550 EPS. Q3 2025 guidance at 0.630-0.670 EPS. Sell-side analysts forecast that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Amy Tufano sold 3,194 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $31.06, for a total value of $99,205.64. Following the sale, the senior vice president directly owned 12,087 shares of the company’s stock, valued at $375,422.22. This trade represents a 20.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.30% of the stock is owned by corporate insiders.

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.