Axalta Coating Systems Ltd. (NYSE:AXTA) Shares Sold by Macquarie Group Ltd.

Posted by on Mar 7th, 2023

Macquarie Group Ltd. decreased its position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA – Get Rating) by 0.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 364,473 shares of the specialty chemicals company’s stock after selling 1,522 shares during the quarter. Macquarie Group Ltd. owned 0.17% of Axalta Coating Systems worth $7,708,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Prospera Financial Services Inc grew its stake in shares of Axalta Coating Systems by 15.3% during the 2nd quarter. Prospera Financial Services Inc now owns 10,065 shares of the specialty chemicals company’s stock worth $223,000 after purchasing an additional 1,337 shares during the period. Ellevest Inc. lifted its position in shares of Axalta Coating Systems by 37.7% during the 3rd quarter. Ellevest Inc. now owns 10,066 shares of the specialty chemicals company’s stock valued at $212,000 after buying an additional 2,758 shares in the last quarter. US Bancorp DE lifted its position in shares of Axalta Coating Systems by 12.9% during the 1st quarter. US Bancorp DE now owns 10,087 shares of the specialty chemicals company’s stock valued at $248,000 after buying an additional 1,149 shares in the last quarter. M&T Bank Corp purchased a new position in shares of Axalta Coating Systems during the 2nd quarter valued at approximately $192,000. Finally, qPULA Trading Management LP purchased a new position in shares of Axalta Coating Systems during the 2nd quarter valued at approximately $232,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. StockNews.com upgraded Axalta Coating Systems from a “hold” rating to a “buy” rating in a research report on Friday. Robert W. Baird raised their price objective on Axalta Coating Systems from $30.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, January 27th. Wells Fargo & Company raised their price objective on Axalta Coating Systems from $23.00 to $29.00 and gave the company an “equal weight” rating in a report on Monday, January 30th. UBS Group raised their price objective on Axalta Coating Systems from $29.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, January 11th. Finally, Deutsche Bank Aktiengesellschaft upgraded Axalta Coating Systems from a “hold” rating to a “buy” rating and lifted their price target for the stock from $25.00 to $40.00 in a report on Monday, January 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $31.13.

Axalta Coating Systems Price Performance

AXTA stock opened at $31.09 on Tuesday. The business has a 50 day moving average price of $28.30 and a 200 day moving average price of $25.91. The stock has a market cap of $6.87 billion, a price-to-earnings ratio of 36.15, a PEG ratio of 2.20 and a beta of 1.43. Axalta Coating Systems Ltd. has a fifty-two week low of $20.66 and a fifty-two week high of $32.56. The company has a quick ratio of 1.35, a current ratio of 1.94 and a debt-to-equity ratio of 2.45.

Axalta Coating Systems (NYSE:AXTA – Get Rating) last posted its earnings results on Thursday, January 26th. The specialty chemicals company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Axalta Coating Systems had a return on equity of 23.50% and a net margin of 3.92%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.30 earnings per share. Equities research analysts anticipate that Axalta Coating Systems Ltd. will post 1.43 earnings per share for the current fiscal year.

Axalta Coating Systems Company Profile

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Axalta Coating Systems Ltd. engages in the manufacture, marketing and distribution of coatings systems. It operates through the Performance Coatings and Transportation Coatings business segments. The Performance Coatings segment provides liquid and powder coatings solutions to a fragmented and local customer base.

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Institutional Ownership by Quarter for Axalta Coating Systems (NYSE:AXTA)

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