Axalta Coating Systems Ltd. (NYSE:AXTA) Position Lowered by National Bank of Canada FI

National Bank of Canada FI decreased its holdings in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 23.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 355,900 shares of the specialty chemicals company’s stock after selling 108,450 shares during the period. National Bank of Canada FI owned about 0.16% of Axalta Coating Systems worth $11,915,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Wellington Management Group LLP increased its holdings in shares of Axalta Coating Systems by 9.0% in the 3rd quarter. Wellington Management Group LLP now owns 4,657,696 shares of the specialty chemicals company’s stock worth $125,292,000 after acquiring an additional 382,949 shares during the period. Hawk Ridge Capital Management LP increased its holdings in shares of Axalta Coating Systems by 49.3% in the 3rd quarter. Hawk Ridge Capital Management LP now owns 2,952,198 shares of the specialty chemicals company’s stock worth $79,414,000 after acquiring an additional 974,973 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Axalta Coating Systems by 11.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,470,860 shares of the specialty chemicals company’s stock worth $362,366,000 after acquiring an additional 1,415,723 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Axalta Coating Systems by 11.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,644,246 shares of the specialty chemicals company’s stock worth $71,130,000 after acquiring an additional 272,455 shares during the period. Finally, Prospector Partners LLC increased its holdings in shares of Axalta Coating Systems by 10.2% in the 3rd quarter. Prospector Partners LLC now owns 323,930 shares of the specialty chemicals company’s stock worth $8,714,000 after acquiring an additional 29,930 shares during the period. Institutional investors own 98.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AXTA shares. BMO Capital Markets increased their target price on shares of Axalta Coating Systems from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. raised their price objective on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. KeyCorp raised their price objective on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Citigroup raised their price objective on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Finally, Mizuho reduced their price objective on shares of Axalta Coating Systems from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Axalta Coating Systems has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Axalta Coating Systems Price Performance

NYSE AXTA opened at $36.33 on Thursday. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.07 and a quick ratio of 1.51. The firm has a market capitalization of $8.02 billion, a price-to-earnings ratio of 32.73, a price-to-earnings-growth ratio of 1.01 and a beta of 1.51. The company has a 50 day simple moving average of $32.98 and a 200-day simple moving average of $32.09. Axalta Coating Systems Ltd. has a 52-week low of $25.03 and a 52-week high of $36.38.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings data on Wednesday, May 1st. The specialty chemicals company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.08. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Axalta Coating Systems had a return on equity of 21.82% and a net margin of 4.77%. Axalta Coating Systems’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.35 EPS. Equities research analysts predict that Axalta Coating Systems Ltd. will post 1.99 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.