Pallas Capital Advisors LLC Acquires New Stake in Axalta Coating Systems Ltd. (NYSE:AXTA)

Pallas Capital Advisors LLC bought a new position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 7,644 shares of the specialty chemicals company’s stock, valued at approximately $272,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AXTA. State of Alaska Department of Revenue raised its holdings in Axalta Coating Systems by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 25,605 shares of the specialty chemicals company’s stock worth $926,000 after purchasing an additional 1,725 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Axalta Coating Systems by 41.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,308 shares of the specialty chemicals company’s stock worth $699,000 after buying an additional 5,667 shares during the last quarter. Ballentine Partners LLC acquired a new position in Axalta Coating Systems in the third quarter valued at $341,000. Signaturefd LLC lifted its holdings in Axalta Coating Systems by 14.1% in the third quarter. Signaturefd LLC now owns 3,599 shares of the specialty chemicals company’s stock valued at $130,000 after buying an additional 444 shares during the period. Finally, Raymond James & Associates boosted its position in Axalta Coating Systems by 48.3% during the third quarter. Raymond James & Associates now owns 168,187 shares of the specialty chemicals company’s stock valued at $6,087,000 after acquiring an additional 54,746 shares during the last quarter. 98.28% of the stock is owned by institutional investors and hedge funds.

Axalta Coating Systems Stock Performance

Shares of AXTA opened at $38.00 on Friday. The firm has a market capitalization of $8.33 billion, a P/E ratio of 25.68, a P/E/G ratio of 0.97 and a beta of 1.44. Axalta Coating Systems Ltd. has a 52 week low of $28.69 and a 52 week high of $38.77. The stock has a 50 day moving average price of $35.97 and a two-hundred day moving average price of $35.06. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.70 and a current ratio of 2.00.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.08. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.32 billion. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. Axalta Coating Systems’s revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.45 earnings per share. Equities analysts forecast that Axalta Coating Systems Ltd. will post 2.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on AXTA. JPMorgan Chase & Co. upped their target price on Axalta Coating Systems from $40.00 to $41.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. KeyCorp raised their price objective on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday. Royal Bank of Canada boosted their target price on shares of Axalta Coating Systems from $44.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday. Barclays increased 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. Finally, Robert W. Baird upped their price objective on shares of Axalta Coating Systems from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.70.

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.