National Bank of Canada FI Sells 108,450 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

National Bank of Canada FI lowered its position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 23.4% in the 4th quarter, HoldingsChannel reports. The firm owned 355,900 shares of the specialty chemicals company’s stock after selling 108,450 shares during the quarter. National Bank of Canada FI’s holdings in Axalta Coating Systems were worth $11,915,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AXTA. M&T Bank Corp boosted its position in shares of Axalta Coating Systems by 6.5% during the fourth quarter. M&T Bank Corp now owns 9,161 shares of the specialty chemicals company’s stock valued at $311,000 after purchasing an additional 556 shares in the last quarter. Natixis Advisors L.P. lifted its holdings in shares of Axalta Coating Systems by 18.9% during the fourth quarter. Natixis Advisors L.P. now owns 626,992 shares of the specialty chemicals company’s stock valued at $21,298,000 after purchasing an additional 99,626 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Axalta Coating Systems by 1,856.6% in the 4th quarter. Victory Capital Management Inc. now owns 5,866,601 shares of the specialty chemicals company’s stock worth $199,288,000 after purchasing an additional 5,566,757 shares in the last quarter. Kestra Private Wealth Services LLC purchased a new stake in shares of Axalta Coating Systems in the 4th quarter worth approximately $243,000. Finally, Guyasuta Investment Advisors Inc. purchased a new position in Axalta Coating Systems during the fourth quarter valued at $223,000. Institutional investors own 98.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AXTA. Wolfe Research initiated coverage on Axalta Coating Systems in a report on Friday, March 1st. They set a “peer perform” rating for the company. Mizuho dropped their price objective on Axalta Coating Systems from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Citigroup upped their target price on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Royal Bank of Canada lifted their price target on shares of Axalta Coating Systems from $39.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Finally, KeyCorp raised their target price on shares of Axalta Coating Systems from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Axalta Coating Systems has an average rating of “Moderate Buy” and a consensus price target of $38.00.

Axalta Coating Systems Trading Up 0.4 %

Shares of AXTA opened at $36.33 on Thursday. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.07 and a quick ratio of 1.51. The company has a 50 day simple moving average of $32.98 and a two-hundred day simple moving average of $32.09. Axalta Coating Systems Ltd. has a 1 year low of $25.03 and a 1 year high of $36.38. The firm has a market cap of $8.02 billion, a P/E ratio of 32.73, a price-to-earnings-growth ratio of 1.01 and a beta of 1.51.

Axalta Coating Systems (NYSE:AXTA) last released its quarterly earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.08. Axalta Coating Systems had a net margin of 4.77% and a return on equity of 21.82%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the firm earned $0.35 earnings per share. Axalta Coating Systems’s revenue was up 1.3% on a year-over-year basis. On average, equities analysts expect that Axalta Coating Systems Ltd. will post 1.99 earnings per share for the current fiscal 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.