Lord Abbett & CO. LLC Buys 24,402 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Lord Abbett & CO. LLC grew its stake in Axalta Coating Systems Ltd. (NYSE:AXTA) by 5.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 445,836 shares of the specialty chemicals company’s stock after acquiring an additional 24,402 shares during the period. Lord Abbett & CO. LLC owned 0.20% of Axalta Coating Systems worth $16,135,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of AXTA. Plato Investment Management Ltd bought a new stake in shares of Axalta Coating Systems during the second quarter worth $30,000. First Horizon Advisors Inc. raised its holdings in 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 purchasing an additional 266 shares during the last quarter. True Wealth Design LLC acquired a new position in Axalta Coating Systems during the 3rd quarter valued at about $37,000. Millburn Ridgefield Corp bought a new position in shares of Axalta Coating Systems in the 3rd quarter valued at about $41,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Axalta Coating Systems during the 3rd quarter worth approximately $54,000. 98.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AXTA. BMO Capital Markets lifted their target price on shares of Axalta Coating Systems from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Royal Bank of Canada upped their price objective on Axalta Coating Systems from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Barclays raised their target price on Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. 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 price target for the company. Finally, Mizuho lifted their price objective on shares of Axalta Coating Systems from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Two 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. According to MarketBeat, Axalta Coating Systems presently has a consensus rating of “Buy” and a consensus price target of $42.45.

Axalta Coating Systems Price Performance

NYSE AXTA opened at $38.23 on Monday. Axalta Coating Systems Ltd. has a 12-month low of $30.40 and a 12-month high of $41.65. The firm’s 50 day moving average is $38.46 and its 200-day moving average is $36.30. The company has a market capitalization of $8.34 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 0.83 and a beta of 1.44. The company has a quick ratio of 1.42, a current ratio of 2.00 and a debt-to-equity ratio of 1.80.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings data on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.08. The company had revenue of $1.32 billion during 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%. Axalta Coating Systems’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 EPS. Equities research analysts anticipate that Axalta Coating Systems Ltd. will post 2.16 earnings per share for the current fiscal year.

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.