Wedge Capital Management L L P NC Buys 11,346 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Wedge Capital Management L L P NC boosted its stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 12.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 103,826 shares of the specialty chemicals company’s stock after buying an additional 11,346 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Axalta Coating Systems were worth $3,444,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Axalta Coating Systems during the fourth quarter worth approximately $87,850,000. Fuller & Thaler Asset Management Inc. boosted its holdings in Axalta Coating Systems by 54.9% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,587,090 shares of the specialty chemicals company’s stock valued at $191,190,000 after acquiring an additional 1,980,296 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in Axalta Coating Systems in the fourth quarter valued at $56,215,000. Deutsche Bank AG boosted its holdings in Axalta Coating Systems by 144.7% in the fourth quarter. Deutsche Bank AG now owns 1,950,902 shares of the specialty chemicals company’s stock valued at $66,760,000 after acquiring an additional 1,153,620 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Axalta Coating Systems by 9.6% during the 4th quarter. Victory Capital Management Inc. now owns 11,321,994 shares of the specialty chemicals company’s stock valued at $387,439,000 after buying an additional 988,397 shares in the last quarter. Institutional investors own 98.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AXTA. BNP Paribas upgraded shares of Axalta Coating Systems from a “neutral” rating to an “outperform” rating and set a $38.00 price target on the stock in a research note on Thursday, April 10th. Barclays lowered their price objective on shares of Axalta Coating Systems from $45.00 to $42.00 and set an “overweight” rating on the stock in a research note on Thursday, May 15th. The Goldman Sachs Group reduced their target price on shares of Axalta Coating Systems from $46.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, May 14th. JPMorgan Chase & Co. lowered shares of Axalta Coating Systems from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $42.00 to $32.00 in a report on Thursday, May 8th. Finally, Morgan Stanley lowered their target price on Axalta Coating Systems from $40.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.38.

Axalta Coating Systems Stock Up 0.7%

AXTA opened at $30.93 on Tuesday. The business has a 50 day moving average price of $31.40 and a two-hundred day moving average price of $34.47. The company has a quick ratio of 1.47, a current ratio of 2.01 and a debt-to-equity ratio of 1.74. The company has a market cap of $6.76 billion, a PE ratio of 17.38, a P/E/G ratio of 0.92 and a beta of 1.27. Axalta Coating Systems Ltd. has a 52 week low of $27.70 and a 52 week high of $41.66.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings data on Wednesday, May 7th. The specialty chemicals company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.05. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.29 billion. Axalta Coating Systems had a return on equity of 26.29% and a net margin of 7.41%. Axalta Coating Systems’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period last year, the business posted $0.48 EPS. As a group, research analysts anticipate that Axalta Coating Systems Ltd. will post 2.55 EPS for the current 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.