Hsbc Holdings PLC Has $8.34 Million Stake in Axalta Coating Systems Ltd. (NYSE:AXTA)

Hsbc Holdings PLC grew its position in Axalta Coating Systems Ltd. (NYSE:AXTA) by 150.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 244,721 shares of the specialty chemicals company’s stock after buying an additional 146,912 shares during the quarter. Hsbc Holdings PLC owned 0.11% of Axalta Coating Systems worth $8,335,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AXTA. Bank of Nova Scotia bought a new position in Axalta Coating Systems in the fourth quarter valued at about $1,736,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Axalta Coating Systems during the 1st quarter valued at approximately $3,871,000. GSA Capital Partners LLP acquired a new position in Axalta Coating Systems during the 1st quarter worth approximately $877,000. Vanguard Group Inc. lifted its stake in Axalta Coating Systems by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 23,763,601 shares of the specialty chemicals company’s stock valued at $817,230,000 after purchasing an additional 554,806 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in Axalta Coating Systems in the first quarter valued at approximately $1,745,000. Institutional investors own 98.28% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on AXTA shares. KeyCorp raised their price objective on shares of Axalta Coating Systems from $40.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Robert W. Baird raised their target price 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. 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. JPMorgan Chase & Co. boosted their price objective 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, Royal Bank of Canada increased their target price on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the company an “outperform” rating in a report on Monday, August 5th. 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $41.00.

Axalta Coating Systems Price Performance

NYSE AXTA opened at $36.32 on Tuesday. The company has a market cap of $8.01 billion, a PE ratio of 32.72, a price-to-earnings-growth ratio of 0.81 and a beta of 1.44. The company has a quick ratio of 1.70, a current ratio of 2.26 and a debt-to-equity ratio of 1.97. The firm’s 50-day simple moving average is $35.09 and its two-hundred day simple moving average is $34.47. Axalta Coating Systems Ltd. has a 52 week low of $25.03 and a 52 week high of $37.49.

Axalta Coating Systems (NYSE:AXTA) last announced 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 company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the business earned $0.35 earnings per share. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. Research analysts predict that Axalta Coating Systems Ltd. will post 2.07 earnings per share for the current year.

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.