Interval Partners LP Buys 1,074,961 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Interval Partners LP increased its stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 716.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,224,961 shares of the specialty chemicals company’s stock after buying an additional 1,074,961 shares during the period. Axalta Coating Systems comprises about 0.9% of Interval Partners LP’s holdings, making the stock its 21st biggest position. Interval Partners LP owned about 0.56% of Axalta Coating Systems worth $41,857,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Axalta Coating Systems by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 23,763,601 shares of the specialty chemicals company’s stock worth $817,230,000 after purchasing an additional 554,806 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Axalta Coating Systems by 0.9% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 15,009,959 shares of the specialty chemicals company’s stock valued at $512,890,000 after purchasing an additional 137,209 shares during the period. Victory Capital Management Inc. increased its position in Axalta Coating Systems by 5.6% in the second quarter. Victory Capital Management Inc. now owns 10,403,246 shares of the specialty chemicals company’s stock worth $355,479,000 after buying an additional 550,970 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Axalta Coating Systems by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,771,023 shares of the specialty chemicals company’s stock valued at $128,852,000 after buying an additional 302,752 shares during the period. Finally, Locust Wood Capital Advisers LLC lifted its position in shares of Axalta Coating Systems by 63.8% during the 1st quarter. Locust Wood Capital Advisers LLC now owns 3,198,290 shares of the specialty chemicals company’s stock valued at $109,989,000 after buying an additional 1,245,223 shares during the last quarter. Institutional investors own 98.28% of the company’s stock.

Axalta Coating Systems Trading Down 2.8 %

Shares of AXTA stock opened at $36.07 on Monday. The company has a market capitalization of $7.96 billion, a PE ratio of 32.50, a price-to-earnings-growth ratio of 0.81 and a beta of 1.44. Axalta Coating Systems Ltd. has a 52-week low of $25.03 and a 52-week high of $37.49. The business’s fifty day moving average is $35.07 and its 200 day moving average is $34.45. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.70 and a current ratio of 2.26.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly 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 firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the firm posted $0.35 EPS. The company’s revenue was up 4.4% compared to the same quarter last year. On average, equities research analysts anticipate that Axalta Coating Systems Ltd. will post 2.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Barclays lifted their price objective on Axalta Coating Systems from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Robert W. Baird lifted their price objective on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Royal Bank of Canada increased their target price on Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. raised their price target on Axalta Coating Systems from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, Wells Fargo & Company upgraded Axalta Coating Systems from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 11th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

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.