PNC Financial Services Group Inc. Has $2.25 Million Stake in Axalta Coating Systems Ltd. (NYSE:AXTA)

PNC Financial Services Group Inc. reduced its stake in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 2.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,289 shares of the specialty chemicals company’s stock after selling 1,573 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Axalta Coating Systems were worth $2,254,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Plato Investment Management Ltd bought a new position in Axalta Coating Systems during the 2nd quarter worth approximately $30,000. GAMMA Investing LLC grew its holdings in shares of Axalta Coating Systems by 111.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,417 shares of the specialty chemicals company’s stock valued at $48,000 after buying an additional 747 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Axalta Coating Systems in the 3rd quarter valued at $54,000. UMB Bank n.a. raised its stake in Axalta Coating Systems by 90.2% during the 3rd quarter. UMB Bank n.a. now owns 1,546 shares of the specialty chemicals company’s stock worth $56,000 after buying an additional 733 shares during the period. Finally, Versant Capital Management Inc bought a new position in Axalta Coating Systems during the second quarter worth about $71,000. 98.28% of the stock is owned by institutional investors.

Axalta Coating Systems Price Performance

Shares of NYSE AXTA opened at $41.29 on Tuesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.00 and a quick ratio of 1.42. The business has a 50-day moving average of $37.42 and a 200-day moving average of $35.85. The stock has a market capitalization of $9.00 billion, a price-to-earnings ratio of 27.90, a PEG ratio of 0.87 and a beta of 1.43. Axalta Coating Systems Ltd. has a fifty-two week low of $30.40 and a fifty-two week high of $41.65.

Axalta Coating Systems (NYSE:AXTA) last posted its quarterly earnings results on Wednesday, October 30th. The specialty chemicals company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. Axalta Coating Systems had a return on equity of 24.92% and a net margin of 6.22%. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the company earned $0.45 earnings per share. The business’s revenue was up .8% compared to the same quarter last year. As a group, sell-side analysts predict that Axalta Coating Systems Ltd. will post 2.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AXTA has been the topic of a number of research analyst reports. Barclays raised their price target 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. JPMorgan Chase & Co. lifted their price target on shares of Axalta Coating Systems from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. BMO Capital Markets increased their price objective on shares of Axalta Coating Systems from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. KeyCorp boosted their price objective 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, Royal Bank of Canada upped their target price on shares of Axalta Coating Systems from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $42.45.

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.