Axalta Coating Systems Ltd. (NYSE:AXTA) Shares Bought by Cerity Partners LLC

Cerity Partners LLC increased its position in Axalta Coating Systems Ltd. (NYSE:AXTA) by 219.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 88,514 shares of the specialty chemicals company’s stock after buying an additional 60,815 shares during the quarter. Cerity Partners LLC’s holdings in Axalta Coating Systems were worth $2,936,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AXTA. Alps Advisors Inc. acquired a new stake in shares of Axalta Coating Systems during the 1st quarter valued at $340,000. Regents Gate Capital LLP acquired a new stake in shares of Axalta Coating Systems during the first quarter worth $2,732,000. TD Private Client Wealth LLC raised its position in shares of Axalta Coating Systems by 56.2% during the first quarter. TD Private Client Wealth LLC now owns 10,433 shares of the specialty chemicals company’s stock worth $346,000 after purchasing an additional 3,754 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Axalta Coating Systems by 8.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 480,443 shares of the specialty chemicals company’s stock valued at $15,936,000 after purchasing an additional 38,031 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Axalta Coating Systems by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 502,087 shares of the specialty chemicals company’s stock worth $16,654,000 after purchasing an additional 2,099 shares in the last quarter. Institutional investors and hedge funds own 98.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AXTA. BNP Paribas upgraded shares of Axalta Coating Systems from a “neutral” rating to an “outperform” rating and set a $38.00 price target for the company in a research report on Thursday, April 10th. Deutsche Bank Aktiengesellschaft cut Axalta Coating Systems from a “buy” rating to a “hold” rating and set a $32.00 target price for the company. in a research report on Friday. Wall Street Zen lowered Axalta Coating Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th. Citigroup reissued a “neutral” rating and issued a $34.00 price objective (down from $35.00) on shares of Axalta Coating Systems in a research note on Friday, June 13th. Finally, Mizuho set a $35.00 target price on Axalta Coating Systems and gave the company an “outperform” rating in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Axalta Coating Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.80.

Axalta Coating Systems Stock Performance

Shares of NYSE AXTA opened at $29.71 on Friday. The business’s 50-day simple moving average is $30.67 and its 200-day simple moving average is $32.99. Axalta Coating Systems Ltd. has a 52 week low of $27.70 and a 52 week high of $41.66. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.53 and a current ratio of 2.12. The firm has a market cap of $6.49 billion, a price-to-earnings ratio of 14.49, a P/E/G ratio of 0.84 and a beta of 1.25.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings results on Wednesday, May 7th. The specialty chemicals company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.54 by $0.05. Axalta Coating Systems had a return on equity of 26.30% and a net margin of 8.56%. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, equities research analysts expect that Axalta Coating Systems Ltd. will post 2.55 earnings per share for the current fiscal year.

Axalta Coating Systems Company 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.