Prospector Partners LLC Lowers Stock Holdings in Axalta Coating Systems Ltd. (NYSE:AXTA)

Prospector Partners LLC cut its holdings in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 62.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 124,800 shares of the specialty chemicals company’s stock after selling 204,525 shares during the quarter. Prospector Partners LLC owned about 0.06% of Axalta Coating Systems worth $4,264,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Plato Investment Management Ltd acquired a new position in shares of Axalta Coating Systems during the 2nd quarter valued at about $30,000. TFO Wealth Partners LLC increased its position in Axalta Coating Systems by 12,022.2% during the fourth quarter. TFO Wealth Partners LLC now owns 1,091 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 1,082 shares during the last quarter. Raleigh Capital Management Inc. purchased a new position in Axalta Coating Systems during the fourth quarter worth approximately $48,000. GAMMA Investing LLC boosted its holdings in shares of Axalta Coating Systems by 111.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,417 shares of the specialty chemicals company’s stock valued at $48,000 after purchasing an additional 747 shares during the last quarter. Finally, Versant Capital Management Inc purchased a new stake in shares of Axalta Coating Systems during the 2nd quarter valued at $71,000. 98.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AXTA has been the topic of several research reports. Barclays increased their target price on Axalta Coating Systems from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price objective on Axalta Coating Systems from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Wells Fargo & Company raised shares of Axalta Coating Systems from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 11th. UBS Group reduced their price target on shares of Axalta Coating Systems from $39.00 to $38.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Finally, Royal Bank of Canada increased their price objective on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $41.00.

Axalta Coating Systems Price Performance

AXTA opened at $36.07 on Friday. Axalta Coating Systems Ltd. has a twelve month low of $25.03 and a twelve month high of $37.49. The firm has a market cap of $7.96 billion, a price-to-earnings ratio of 32.50, a PEG ratio of 0.81 and a beta of 1.44. The company has a current ratio of 2.26, a quick ratio of 1.70 and a debt-to-equity ratio of 1.97. The company has a fifty day simple moving average of $35.07 and a 200 day simple moving average of $34.43.

Axalta Coating Systems (NYSE:AXTA) last announced its earnings results on Thursday, August 1st. The specialty chemicals company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.06. Axalta Coating Systems had a return on equity of 24.28% and a net margin of 5.69%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the firm earned $0.35 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis. Equities research analysts expect that Axalta Coating Systems Ltd. will post 2.07 EPS 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.