Assetmark Inc. Trims Stake in Axalta Coating Systems Ltd. (NYSE:AXTA)

Assetmark Inc. lessened its holdings in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 2.0% in the third quarter, HoldingsChannel.com reports. The fund owned 263,694 shares of the specialty chemicals company’s stock after selling 5,458 shares during the period. Assetmark Inc.’s holdings in Axalta Coating Systems were worth $9,543,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Plato Investment Management Ltd purchased a new position in shares of Axalta Coating Systems during the second quarter worth approximately $30,000. GAMMA Investing LLC boosted its position in Axalta Coating Systems by 111.5% during the second quarter. GAMMA Investing LLC now owns 1,417 shares of the specialty chemicals company’s stock valued at $48,000 after buying an additional 747 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Axalta Coating Systems during the third quarter valued at about $54,000. UMB Bank n.a. increased its holdings in shares of Axalta Coating Systems by 90.2% in the third quarter. UMB Bank n.a. now owns 1,546 shares of the specialty chemicals company’s stock worth $56,000 after buying an additional 733 shares during the period. Finally, Versant Capital Management Inc bought a new stake in shares of Axalta Coating Systems in the 2nd quarter valued at about $71,000. 98.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AXTA has been the topic of several recent research reports. Barclays raised their price target on Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. KeyCorp upped their price target on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. boosted their price objective on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Mizuho increased their target price on shares of Axalta Coating Systems from $42.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, Robert W. Baird raised their target price on Axalta Coating Systems from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.70.

Axalta Coating Systems Stock Up 0.5 %

AXTA stock opened at $39.96 on Monday. Axalta Coating Systems Ltd. has a fifty-two week low of $29.19 and a fifty-two week high of $40.19. The company has a market capitalization of $8.71 billion, a price-to-earnings ratio of 27.00, a price-to-earnings-growth ratio of 0.85 and a beta of 1.43. The business’s 50 day moving average price is $36.31 and its two-hundred day moving average price is $35.35. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.42 and a current ratio of 2.00.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.08. The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.45 earnings per share. As a group, analysts forecast that Axalta Coating Systems Ltd. will post 2.16 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.