Vestcor Inc Acquires Shares of 18,420 Axalta Coating Systems Ltd. (NYSE:AXTA)

Vestcor Inc bought a new position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) during the third quarter, Holdings Channel reports. The firm bought 18,420 shares of the specialty chemicals company’s stock, valued at approximately $667,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Plato Investment Management Ltd purchased a new position in Axalta Coating Systems in the second quarter valued at approximately $30,000. True Wealth Design LLC purchased a new position in shares of Axalta Coating Systems during the 3rd quarter valued at $37,000. First Horizon Advisors Inc. grew its stake in shares of 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. Millburn Ridgefield Corp purchased a new stake in Axalta Coating Systems in the 3rd quarter worth about $41,000. Finally, Capital Performance Advisors LLP bought a new stake in Axalta Coating Systems in the 3rd quarter valued at about $54,000. Institutional investors own 98.28% of the company’s stock.

Axalta Coating Systems Trading Up 0.5 %

Shares of Axalta Coating Systems stock opened at $39.07 on Friday. 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 company has a market capitalization of $8.52 billion, a P/E ratio of 26.40, a P/E/G ratio of 0.86 and a beta of 1.44. The company has a fifty day moving average of $38.33 and a 200 day moving average of $36.24.

Axalta Coating Systems (NYSE:AXTA) last issued its 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 firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. The business’s revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.45 earnings per share. On average, sell-side analysts anticipate that Axalta Coating Systems Ltd. will post 2.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on AXTA shares. Evercore ISI started coverage on Axalta Coating Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $47.00 target price for the company. Royal Bank of Canada boosted their price objective on shares of Axalta Coating Systems from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. 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, November 1st. KeyCorp boosted their price target on shares of Axalta Coating Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, BMO Capital Markets increased their price objective on Axalta Coating Systems from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $42.45.

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.