Longboard Asset Management LP Makes New Investment in Axalta Coating Systems Ltd. (NYSE:AXTA)

Longboard Asset Management LP acquired a new position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,907 shares of the specialty chemicals company’s stock, valued at approximately $202,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. State Street Corp boosted its stake in shares of Axalta Coating Systems by 0.7% during the third quarter. State Street Corp now owns 6,822,955 shares of the specialty chemicals company’s stock valued at $246,923,000 after purchasing an additional 46,813 shares during the period. Geode Capital Management LLC boosted its stake in shares of Axalta Coating Systems by 0.9% during the third quarter. Geode Capital Management LLC now owns 3,669,190 shares of the specialty chemicals company’s stock valued at $132,823,000 after purchasing an additional 31,894 shares during the period. Westfield Capital Management Co. LP boosted its stake in shares of Axalta Coating Systems by 4.2% during the third quarter. Westfield Capital Management Co. LP now owns 2,096,790 shares of the specialty chemicals company’s stock valued at $75,883,000 after purchasing an additional 84,594 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Axalta Coating Systems by 11.5% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,991,660 shares of the specialty chemicals company’s stock valued at $72,078,000 after purchasing an additional 205,085 shares during the period. Finally, PointState Capital LP purchased a new stake in shares of Axalta Coating Systems during the third quarter valued at $30,257,000. 98.28% of the stock is owned by hedge funds and other institutional investors.

Axalta Coating Systems Stock Performance

Shares of Axalta Coating Systems stock opened at $38.14 on Wednesday. Axalta Coating Systems Ltd. has a one year low of $30.40 and a one year 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 $8.32 billion, a PE ratio of 25.77, a P/E/G ratio of 0.74 and a beta of 1.46. The company has a 50-day simple moving average of $36.57 and a two-hundred day simple moving average of $36.37.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings data on Tuesday, February 4th. The specialty chemicals company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.09. Axalta Coating Systems had a net margin of 6.22% and a return on equity of 24.92%. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the company posted $0.43 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. Research analysts expect that Axalta Coating Systems Ltd. will post 2.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AXTA has been the subject of a number of recent analyst reports. 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 note on Friday, November 1st. BMO Capital Markets lifted their price objective on Axalta Coating Systems from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Wolfe Research upgraded Axalta Coating Systems from a “peer perform” rating to an “outperform” rating and set a $41.00 price objective for the company in a report on Friday, January 17th. Mizuho decreased their price objective on Axalta Coating Systems from $43.00 to $41.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Finally, Citigroup downgraded Axalta Coating Systems from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $45.00 to $41.00 in a report on Wednesday, December 18th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $43.00.

Axalta Coating Systems 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.