Axalta Coating Systems (NYSE:AXTA) Sets New 52-Week High – Here’s What Happened

Axalta Coating Systems Ltd. (NYSE:AXTA) reached a new 52-week high on Monday . The company traded as high as $41.02 and last traded at $40.99, with a volume of 20435 shares trading hands. The stock had previously closed at $40.52.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Barclays increased their price target on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Robert W. Baird boosted their price target on Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. BMO Capital Markets increased their price objective on Axalta Coating Systems from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. boosted their target price on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Finally, Evercore ISI began coverage on shares of Axalta Coating Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $47.00 target price on the stock. Two equities research 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. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $42.45.

Axalta Coating Systems Trading Down 1.5 %

The company’s 50-day moving average is $37.52 and its 200-day moving average is $35.88. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.42 and a current ratio of 2.00. The firm has a market cap of $8.87 billion, a price-to-earnings ratio of 27.48, a P/E/G ratio of 0.87 and a beta of 1.43.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AXTA. Millennium Management LLC lifted its stake in shares of Axalta Coating Systems by 89.7% during the second quarter. Millennium Management LLC now owns 2,733,703 shares of the specialty chemicals company’s stock valued at $93,411,000 after acquiring an additional 1,292,434 shares during the period. Interval Partners LP raised its holdings in Axalta Coating Systems by 716.6% during the 2nd quarter. Interval Partners LP now owns 1,224,961 shares of the specialty chemicals company’s stock worth $41,857,000 after purchasing an additional 1,074,961 shares during the last quarter. PointState Capital LP acquired a new position in Axalta Coating Systems during the 3rd quarter valued at about $30,257,000. Victory Capital Management Inc. boosted its stake in shares of Axalta Coating Systems by 5.6% in the 2nd quarter. Victory Capital Management Inc. now owns 10,403,246 shares of the specialty chemicals company’s stock valued at $355,479,000 after purchasing an additional 550,970 shares during the last quarter. Finally, Westwood Holdings Group Inc. grew its position in shares of Axalta Coating Systems by 1,424.5% during the 1st quarter. Westwood Holdings Group Inc. now owns 545,089 shares of the specialty chemicals company’s stock worth $18,746,000 after buying an additional 509,333 shares during the period. 98.28% of the stock is currently owned by institutional investors.

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.