Geode Capital Management LLC Acquires 31,894 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Geode Capital Management LLC raised its stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 0.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,669,190 shares of the specialty chemicals company’s stock after purchasing an additional 31,894 shares during the quarter. Geode Capital Management LLC’s holdings in Axalta Coating Systems were worth $132,823,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in AXTA. First Horizon Advisors Inc. increased its position in Axalta Coating Systems by 35.2% during the third quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company’s stock valued at $37,000 after acquiring an additional 266 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Axalta Coating Systems by 14.1% in the third quarter. Signaturefd LLC now owns 3,599 shares of the specialty chemicals company’s stock worth $130,000 after buying an additional 444 shares during the last quarter. Venturi Wealth Management LLC grew its position in Axalta Coating Systems by 30.2% during the third quarter. Venturi Wealth Management LLC now owns 1,964 shares of the specialty chemicals company’s stock valued at $71,000 after buying an additional 455 shares during the period. Verdence Capital Advisors LLC increased its holdings in Axalta Coating Systems by 4.4% during the third quarter. Verdence Capital Advisors LLC now owns 11,162 shares of the specialty chemicals company’s stock valued at $404,000 after buying an additional 473 shares during the last quarter. Finally, KBC Group NV raised its position in Axalta Coating Systems by 13.9% in the third quarter. KBC Group NV now owns 5,859 shares of the specialty chemicals company’s stock worth $212,000 after acquiring an additional 716 shares during the period. 98.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AXTA has been the subject of several analyst reports. Barclays upped their price objective on Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. KeyCorp lifted their price objective on Axalta Coating Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Royal Bank of Canada boosted their price objective on Axalta Coating Systems from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Mizuho increased their price target on Axalta Coating Systems from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, BMO Capital Markets increased their price objective 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 analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $42.45.

Axalta Coating Systems Trading Down 1.3 %

Shares of AXTA opened at $37.72 on Tuesday. The company has a current ratio of 2.00, a quick ratio of 1.42 and a debt-to-equity ratio of 1.80. Axalta Coating Systems Ltd. has a twelve month low of $30.40 and a twelve month high of $41.65. The company has a market cap of $8.23 billion, a P/E ratio of 25.49, a P/E/G ratio of 0.83 and a beta of 1.44. The company’s fifty day simple moving average is $38.49 and its 200-day simple moving average is $36.32.

Axalta Coating Systems (NYSE:AXTA) last released its earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. The business’s revenue was up .8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.45 earnings per share. As a group, analysts expect that Axalta Coating Systems Ltd. will post 2.16 EPS for the current year.

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.