Federated Hermes Inc. Purchases 25,717 Shares of Axalta Coating Systems Ltd. (NYSE:AXTA)

Federated Hermes Inc. lifted its position in shares of Axalta Coating Systems Ltd. (NYSE:AXTA) by 3.0% in the second quarter, HoldingsChannel reports. The fund owned 896,188 shares of the specialty chemicals company’s stock after buying an additional 25,717 shares during the period. Federated Hermes Inc.’s holdings in Axalta Coating Systems were worth $30,623,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in AXTA. Wedge Capital Management L L P NC increased its position in Axalta Coating Systems by 0.4% in the second quarter. Wedge Capital Management L L P NC now owns 110,555 shares of the specialty chemicals company’s stock worth $3,778,000 after purchasing an additional 453 shares during the period. O Shaughnessy Asset Management LLC grew its position in shares of Axalta Coating Systems by 9.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 6,450 shares of the specialty chemicals company’s stock worth $222,000 after buying an additional 530 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Axalta Coating Systems by 1.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 56,174 shares of the specialty chemicals company’s stock worth $1,908,000 after buying an additional 576 shares during the period. Signaturefd LLC lifted its holdings in Axalta Coating Systems by 23.2% in the second quarter. Signaturefd LLC now owns 3,155 shares of the specialty chemicals company’s stock valued at $108,000 after buying an additional 594 shares during the period. Finally, Retirement Systems of Alabama boosted its stake in Axalta Coating Systems by 0.3% in the first quarter. Retirement Systems of Alabama now owns 276,369 shares of the specialty chemicals company’s stock valued at $9,504,000 after acquiring an additional 726 shares during the last quarter. Institutional investors and hedge funds own 98.28% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on AXTA shares. KeyCorp upped their target price on shares of Axalta Coating Systems from $40.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Barclays increased their target price on Axalta Coating Systems from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. UBS Group reduced their target price on Axalta Coating Systems from $39.00 to $38.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Mizuho upped their price target on Axalta Coating Systems from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Finally, Royal Bank of Canada lifted their price objective on shares of Axalta Coating Systems from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $41.00.

Axalta Coating Systems Price Performance

NYSE AXTA opened at $34.80 on Friday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.70 and a current ratio of 2.26. The stock has a market cap of $7.63 billion, a price-to-earnings ratio of 31.35, a PEG ratio of 0.81 and a beta of 1.44. The business has a 50 day simple moving average of $34.95 and a 200 day simple moving average of $34.31. Axalta Coating Systems Ltd. has a 52-week low of $25.03 and a 52-week high of $37.49.

Axalta Coating Systems (NYSE:AXTA) last issued its quarterly earnings data on Thursday, August 1st. The specialty chemicals company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.06. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. Axalta Coating Systems had a net margin of 5.69% and a return on equity of 24.28%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.35 earnings per share. Analysts anticipate that Axalta Coating Systems Ltd. will post 2.07 earnings per share for the current fiscal year.

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.