Longboard Asset Management LP Takes Position in Axalta Coating Systems Ltd. (NYSE:AXTA)

Longboard Asset Management LP acquired a new position in Axalta Coating Systems Ltd. (NYSE:AXTA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,907 shares of the specialty chemicals company’s stock, valued at approximately $202,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Eagle Bay Advisors LLC boosted its holdings in shares of Axalta Coating Systems by 116.3% in the fourth quarter. Eagle Bay Advisors LLC now owns 824 shares of the specialty chemicals company’s stock worth $28,000 after buying an additional 443 shares during the last quarter. First Horizon Advisors Inc. raised its stake in Axalta Coating Systems by 35.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,021 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 266 shares during the period. True Wealth Design LLC bought a new stake in Axalta Coating Systems during the 3rd quarter worth approximately $37,000. Millburn Ridgefield Corp bought a new stake in Axalta Coating Systems during the 3rd quarter worth approximately $41,000. Finally, Capital Performance Advisors LLP bought a new stake in Axalta Coating Systems during the 3rd quarter worth approximately $54,000. Hedge funds and other institutional investors own 98.28% of the company’s stock.

Axalta Coating Systems Trading Up 8.6 %

AXTA stock opened at $38.14 on Wednesday. The firm has a fifty day moving average price of $36.57 and a 200 day moving average price of $36.37. Axalta Coating Systems Ltd. has a fifty-two week low of $30.40 and a fifty-two week high of $41.65. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.42 and a current ratio of 2.00. The firm has a market cap of $8.32 billion, a PE ratio of 25.77, a price-to-earnings-growth ratio of 0.74 and a beta of 1.46.

Axalta Coating Systems (NYSE:AXTA) last posted its earnings results on Tuesday, February 4th. The specialty chemicals company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.09. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the firm posted $0.43 earnings per share. Axalta Coating Systems’s revenue for the quarter was up 1.1% compared to the same quarter last year. Sell-side analysts anticipate that Axalta Coating Systems Ltd. will post 2.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AXTA. Barclays raised their target price on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Mizuho decreased their target price on shares of Axalta Coating Systems from $43.00 to $41.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Citigroup cut shares of Axalta Coating Systems from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $45.00 to $41.00 in a research note on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Axalta Coating Systems from $44.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, Wolfe Research upgraded shares of Axalta Coating Systems from a “peer perform” rating to an “outperform” rating and set a $41.00 price objective on the stock in a research report on Friday, January 17th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Axalta Coating Systems presently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Axalta Coating Systems Company Profile

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.