Axalta Coating Systems Ltd. (NYSE:AXTA) Position Cut by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. reduced its stake in Axalta Coating Systems Ltd. (NYSE:AXTA) by 12.6% in the fourth quarter, HoldingsChannel reports. The fund owned 383,193 shares of the specialty chemicals company’s stock after selling 55,097 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Axalta Coating Systems were worth $13,113,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AXTA. Savant Capital LLC bought a new stake in Axalta Coating Systems during the second quarter worth approximately $541,000. American Century Companies Inc. lifted its holdings in shares of Axalta Coating Systems by 407.6% during the second quarter. American Century Companies Inc. now owns 237,846 shares of the specialty chemicals company’s stock valued at $8,127,000 after purchasing an additional 190,989 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Axalta Coating Systems in the 2nd quarter valued at $408,000. Federated Hermes Inc. increased its stake in Axalta Coating Systems by 3.0% in the 2nd quarter. Federated Hermes Inc. now owns 896,188 shares of the specialty chemicals company’s stock worth $30,623,000 after purchasing an additional 25,717 shares in the last quarter. Finally, Plato Investment Management Ltd acquired a new stake in Axalta Coating Systems during the 2nd quarter worth about $30,000. 98.28% of the stock is currently owned by institutional investors and hedge funds.

Axalta Coating Systems Stock Down 1.7 %

Shares of NYSE AXTA traded down $0.58 during trading hours on Friday, hitting $33.72. The stock had a trading volume of 446,564 shares, compared to its average volume of 1,543,979. The company has a market capitalization of $7.35 billion, a P/E ratio of 22.78, a P/E/G ratio of 0.83 and a beta of 1.46. The firm’s 50-day moving average price is $37.81 and its two-hundred day moving average price is $36.18. 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 Ltd. has a 52 week low of $30.40 and a 52 week high of $41.65.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 EPS 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 analyst estimates of $1.32 billion. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. Axalta Coating Systems’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.45 EPS. Analysts anticipate that Axalta Coating Systems Ltd. will post 2.16 EPS for the current fiscal year.

Analysts Set New Price Targets

AXTA has been the topic of several analyst reports. Mizuho dropped 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 report on Tuesday. BMO Capital Markets boosted their target price on shares of Axalta Coating Systems from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft decreased their target price on Axalta Coating Systems from $44.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Citigroup lowered Axalta Coating Systems from a “buy” rating to a “neutral” rating and dropped their price target for the company from $45.00 to $41.00 in a research report on Wednesday, December 18th. Finally, Barclays raised their price objective 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. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.18.

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.