Janney Montgomery Scott LLC Acquires Shares of 23,628 Axalta Coating Systems Ltd. (NYSE:AXTA)

Janney Montgomery Scott LLC purchased a new position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 23,628 shares of the specialty chemicals company’s stock, valued at approximately $855,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Millennium Management LLC boosted its position in 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 worth $93,411,000 after acquiring an additional 1,292,434 shares during the last quarter. Interval Partners LP lifted its position in Axalta Coating Systems by 716.6% during the second quarter. Interval Partners LP now owns 1,224,961 shares of the specialty chemicals company’s stock worth $41,857,000 after buying an additional 1,074,961 shares in the last quarter. Vanguard Group Inc. boosted its stake in Axalta Coating Systems by 2.4% during the first quarter. Vanguard Group Inc. now owns 23,763,601 shares of the specialty chemicals company’s stock worth $817,230,000 after buying an additional 554,806 shares during the last quarter. Victory Capital Management Inc. grew its holdings in 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 buying an additional 550,970 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its stake in shares of Axalta Coating Systems by 1,424.5% in the 1st quarter. Westwood Holdings Group Inc. now owns 545,089 shares of the specialty chemicals company’s stock worth $18,746,000 after acquiring an additional 509,333 shares during the last quarter. 98.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AXTA shares. Evercore ISI initiated coverage on shares of Axalta Coating Systems in a research report on Wednesday. They set an “outperform” rating and a $47.00 price target on the stock. JPMorgan Chase & Co. increased their price target 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. Royal Bank of Canada lifted their price target on shares of Axalta Coating Systems from $44.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. BMO Capital Markets upped their price objective on Axalta Coating Systems from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, KeyCorp raised their target price on Axalta Coating Systems from $44.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Axalta Coating Systems presently has an average rating of “Buy” and an average target price of $42.45.

Axalta Coating Systems Stock Performance

Shares of Axalta Coating Systems stock opened at $40.29 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.00 and a quick ratio of 1.42. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of 27.23, a price-to-earnings-growth ratio of 0.87 and a beta of 1.43. The business has a 50-day moving average of $36.79 and a 200 day moving average of $35.64. Axalta Coating Systems Ltd. has a 12 month low of $30.40 and a 12 month high of $40.91.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings data on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.45 earnings per share. As a group, sell-side analysts forecast that Axalta Coating Systems Ltd. will post 2.16 earnings per share for the current 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.