Axalta Coating Systems Ltd. (NYSE:AXTA) Stake Lowered by Cinctive Capital Management LP

Cinctive Capital Management LP trimmed its position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 15.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,722 shares of the specialty chemicals company’s stock after selling 4,637 shares during the period. Cinctive Capital Management LP’s holdings in Axalta Coating Systems were worth $895,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Atom Investors LP lifted its stake in Axalta Coating Systems by 198.6% in the third quarter. Atom Investors LP now owns 380,616 shares of the specialty chemicals company’s stock valued at $13,774,000 after acquiring an additional 253,142 shares during the last quarter. Paloma Partners Management Co bought a new position in shares of Axalta Coating Systems during the 3rd quarter valued at $326,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Axalta Coating Systems by 139.9% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 5,728 shares of the specialty chemicals company’s stock valued at $207,000 after purchasing an additional 3,340 shares during the last quarter. Point72 Hong Kong Ltd boosted its holdings in Axalta Coating Systems by 578.3% in the third quarter. Point72 Hong Kong Ltd now owns 67,597 shares of the specialty chemicals company’s stock worth $2,446,000 after purchasing an additional 57,631 shares in the last quarter. Finally, True Wealth Design LLC acquired a new position in Axalta Coating Systems during the third quarter worth $37,000. Institutional investors and hedge funds own 98.28% of the company’s stock.

Axalta Coating Systems Stock Down 0.6 %

NYSE AXTA opened at $40.33 on Wednesday. Axalta Coating Systems Ltd. has a twelve month low of $30.40 and a twelve month high of $41.65. The stock has a market cap of $8.79 billion, a PE ratio of 27.25, a PEG ratio of 0.87 and a beta of 1.44. The firm has a 50-day simple moving average of $37.93 and a 200 day simple moving average of $36.05. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.42 and a current ratio of 2.00.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings data on Wednesday, October 30th. The specialty chemicals company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.32 billion. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the company earned $0.45 EPS. On average, research analysts forecast that Axalta Coating Systems Ltd. will post 2.16 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on AXTA. Royal Bank of Canada boosted their price target on Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Barclays boosted their target price on Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Mizuho increased their price target on Axalta Coating Systems from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Evercore ISI initiated coverage on shares of Axalta Coating Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $47.00 price objective for the company. Finally, BMO Capital Markets upped their price target on shares of Axalta Coating Systems from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $42.45.

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.