Comerica Bank Has $1.54 Million Stock Position in Axalta Coating Systems Ltd. (NYSE:AXTA)

Comerica Bank increased its position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA – Get Rating) by 1.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 65,508 shares of the specialty chemicals company’s stock after buying an additional 1,105 shares during the quarter. Comerica Bank’s holdings in Axalta Coating Systems were worth $1,542,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Prospera Financial Services Inc raised its stake in Axalta Coating Systems by 10.9% during the 3rd quarter. Prospera Financial Services Inc now owns 11,165 shares of the specialty chemicals company’s stock worth $235,000 after buying an additional 1,100 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Axalta Coating Systems by 1.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,247,118 shares of the specialty chemicals company’s stock worth $47,324,000 after purchasing an additional 31,220 shares during the last quarter. Raymond James & Associates raised its stake in shares of Axalta Coating Systems by 1.2% in the third quarter. Raymond James & Associates now owns 438,528 shares of the specialty chemicals company’s stock worth $9,235,000 after purchasing an additional 5,346 shares during the last quarter. Olstein Capital Management L.P. raised its stake in shares of Axalta Coating Systems by 2.8% in the third quarter. Olstein Capital Management L.P. now owns 325,450 shares of the specialty chemicals company’s stock worth $6,854,000 after purchasing an additional 9,000 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in shares of Axalta Coating Systems by 92.6% in the third quarter. National Bank of Canada FI now owns 568,072 shares of the specialty chemicals company’s stock worth $11,964,000 after purchasing an additional 273,100 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Robert W. Baird lowered their price objective on Axalta Coating Systems from $35.00 to $30.00 in a research note on Thursday, October 27th. KeyCorp increased their price objective on Axalta Coating Systems from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, January 12th. Wells Fargo & Company lowered their price objective on Axalta Coating Systems from $26.00 to $23.00 and set an “equal weight” rating for the company in a research note on Monday, January 9th. Exane BNP Paribas lowered Axalta Coating Systems from an “outperform” rating to a “neutral” rating and set a $27.00 target price for the company. in a report on Friday, October 28th. Finally, Bank of America reduced their target price on Axalta Coating Systems from $32.00 to $31.00 in a report on Tuesday, October 11th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $28.08.

Axalta Coating Systems Trading Up 5.1 %

NYSE:AXTA opened at $27.40 on Friday. The company has a market cap of $6.04 billion, a P/E ratio of 30.79, a P/E/G ratio of 1.71 and a beta of 1.36. The stock’s fifty day moving average price is $26.21 and its two-hundred day moving average price is $24.91. Axalta Coating Systems Ltd. has a 1 year low of $20.66 and a 1 year high of $30.89. The company has a debt-to-equity ratio of 2.78, a current ratio of 1.98 and a quick ratio of 1.36.

Axalta Coating Systems (NYSE:AXTA – Get Rating) last posted its earnings results on Tuesday, October 25th. The specialty chemicals company reported $0.39 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.39. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.20 billion. Axalta Coating Systems had a return on equity of 22.19% and a net margin of 4.20%. The business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.39 earnings per share. As a group, analysts expect that Axalta Coating Systems Ltd. will post 1.46 EPS for the current year.

Axalta Coating Systems Profile

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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. It operates through two segments, Performance Coatings and Transportation Coatings. The company offers water and solvent-borne products and systems to repair damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.