Axalta Coating Systems Ltd. (NYSE:AXTA) Sees Large Increase in Short Interest

Axalta Coating Systems Ltd. (NYSE:AXTAGet Free Report) saw a significant growth in short interest in February. As of February 29th, there was short interest totalling 6,720,000 shares, a growth of 16.9% from the February 14th total of 5,750,000 shares. Based on an average trading volume of 2,000,000 shares, the short-interest ratio is presently 3.4 days. Approximately 3.1% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

AXTA has been the subject of several research analyst reports. Wells Fargo & Company lifted their price target on Axalta Coating Systems from $31.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 9th. UBS Group lowered Axalta Coating Systems from a “buy” rating to a “neutral” rating and upped their target price for the stock from $35.00 to $36.00 in a research note on Monday, January 8th. Wolfe Research assumed coverage on shares of Axalta Coating Systems in a research note on Friday, March 1st. They set a “peer perform” rating on the stock. Finally, JPMorgan Chase & Co. upped their price objective on shares of Axalta Coating Systems from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.42.

Check Out Our Latest Research Report on AXTA

Institutional Investors Weigh In On Axalta Coating Systems

Several institutional investors and hedge funds have recently modified their holdings of the stock. KB Financial Partners LLC bought a new stake in Axalta Coating Systems during the 1st quarter valued at approximately $25,000. Itau Unibanco Holding S.A. purchased a new stake in Axalta Coating Systems in the second quarter worth about $28,000. Quarry LP bought a new stake in shares of Axalta Coating Systems in the 4th quarter worth approximately $31,000. Fifth Third Bancorp grew its stake in shares of Axalta Coating Systems by 47.7% in the fourth quarter. Fifth Third Bancorp now owns 1,046 shares of the specialty chemicals company’s stock worth $36,000 after acquiring an additional 338 shares during the last quarter. Finally, TFO Wealth Partners LLC increased its stake in Axalta Coating Systems by 12,022.2% during the 4th quarter. TFO Wealth Partners LLC now owns 1,091 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 1,082 shares in the last quarter. 98.64% of the stock is owned by hedge funds and other institutional investors.

Axalta Coating Systems Stock Performance

Shares of NYSE:AXTA opened at $33.38 on Monday. The company has a current ratio of 1.98, a quick ratio of 1.46 and a debt-to-equity ratio of 1.96. The company has a 50-day moving average price of $32.44 and a 200-day moving average price of $30.55. The company has a market cap of $7.35 billion, a price-to-earnings ratio of 27.82, a price-to-earnings-growth ratio of 1.31 and a beta of 1.50. Axalta Coating Systems has a 12 month low of $25.03 and a 12 month high of $34.45.

Axalta Coating Systems (NYSE:AXTAGet Free Report) last released its quarterly earnings results on Thursday, February 8th. The specialty chemicals company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). Axalta Coating Systems had a net margin of 5.16% and a return on equity of 20.70%. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the company earned $0.38 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities analysts anticipate that Axalta Coating Systems will post 1.88 EPS for the current year.

About Axalta Coating Systems

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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 Mobility 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.

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