Appian Way Asset Management LP Makes New Investment in Axalta Coating Systems Ltd. (NYSE:AXTA)

Appian Way Asset Management LP acquired a new position in Axalta Coating Systems Ltd. (NYSE:AXTA) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 96,783 shares of the specialty chemicals company’s stock, valued at approximately $3,307,000. Axalta Coating Systems accounts for 0.8% of Appian Way Asset Management LP’s holdings, making the stock its 23rd largest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in Axalta Coating Systems by 1.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 56,174 shares of the specialty chemicals company’s stock worth $1,908,000 after purchasing an additional 576 shares during the period. Wells Fargo & Company MN increased its stake in shares of Axalta Coating Systems by 11.9% in the fourth quarter. Wells Fargo & Company MN now owns 342,669 shares of the specialty chemicals company’s stock worth $11,640,000 after buying an additional 36,395 shares during the period. United Services Automobile Association raised its holdings in Axalta Coating Systems by 8.2% during the 4th quarter. United Services Automobile Association now owns 16,860 shares of the specialty chemicals company’s stock valued at $573,000 after buying an additional 1,280 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in Axalta Coating Systems by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 98,131 shares of the specialty chemicals company’s stock worth $3,334,000 after acquiring an additional 960 shares during the last quarter. Finally, TFO Wealth Partners LLC grew its holdings in Axalta Coating Systems by 12,022.2% in the 4th quarter. TFO Wealth Partners LLC now owns 1,091 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 1,082 shares during the last quarter. Institutional investors own 98.28% of the company’s stock.

Wall Street Analysts Forecast Growth

AXTA has been the subject of a number of analyst reports. Barclays increased their target price on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Wells Fargo & Company raised Axalta Coating Systems from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 11th. Royal Bank of Canada upped their target price on Axalta Coating Systems from $42.00 to $44.00 and gave the company an “outperform” rating in a report on Monday, August 5th. UBS Group cut 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 report on Tuesday, July 9th. Finally, KeyCorp increased their price target on shares of Axalta Coating Systems from $40.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. 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’s stock. According to data from MarketBeat, Axalta Coating Systems presently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Axalta Coating Systems Trading Up 0.7 %

Axalta Coating Systems stock opened at $36.32 on Tuesday. Axalta Coating Systems Ltd. has a 12 month low of $25.03 and a 12 month high of $37.49. 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 business’s fifty day simple moving average is $35.09 and its two-hundred day simple moving average is $34.47. The company has a market capitalization of $8.01 billion, a price-to-earnings ratio of 32.72, a price-to-earnings-growth ratio of 0.81 and a beta of 1.44.

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