Axalta Coating Systems Ltd. (NYSE:AXTA) Short Interest Up 32.3% in April
Axalta Coating Systems Ltd. (NYSE:AXTA) experienced a 32.3% increase in short interest in April, totaling 6,510,000 shares as of April 15th. The short-interest ratio stands at 3.0 days, with approximately 3.0% of shares sold short. Analysts have mixed ratings, with a moderate buy average and a price target of $41.36. The stock traded at $33.21, with a market cap of $7.26 billion and a P/E ratio of 18.66. Insider trading and institutional investments have also been noted, reflecting active market engagement.
Axalta Coating Systems Ltd. (NYSE:AXTA - Get Free Report) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 6,510,000 shares, an increase of 32.3% from the March 31st total of 4,920,000 shares. Based on an average daily volume of 2,190,000 shares, the short-interest ratio is currently 3.0 days. Approximately 3.0% of the company's stock are sold short.
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Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the stock. BNP Paribas raised shares of Axalta Coating Systems from a "neutral" rating to an "outperform" rating and set a $38.00 target price for the company in a research note on Thursday, April 10th. Barclays raised their price objective on Axalta Coating Systems from $44.00 to $45.00 and gave the company an "overweight" rating in a research report on Wednesday, February 5th. StockNews.com downgraded Axalta Coating Systems from a "strong-buy" rating to a "buy" rating in a report on Friday, February 28th. Mizuho set a $37.00 price target on Axalta Coating Systems in a report on Tuesday, April 15th. Finally, Wolfe Research upgraded shares of Axalta Coating Systems from a "peer perform" rating to an "outperform" rating and set a $41.00 price target on the stock in a research note on Friday, January 17th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Axalta Coating Systems presently has an average rating of "Moderate Buy" and an average price target of $41.36.
Check Out Our Latest Report on AXTA
Insider Buying and Selling
In other news, insider Troy D. Weaver sold 10,457 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $37.57, for a total value of $392,869.49. Following the sale, the insider now directly owns 74,905 shares of the company's stock, valued at $2,814,180.85. This represents a 12.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.40% of the stock is owned by insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC raised its holdings in shares of Axalta Coating Systems by 50.4% during the third quarter. Barclays PLC now owns 154,483 shares of the specialty chemicals company's stock valued at $5,589,000 after acquiring an additional 51,748 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Axalta Coating Systems in the 3rd quarter valued at $117,000. Tidal Investments LLC raised its stake in Axalta Coating Systems by 12.9% in the 3rd quarter. Tidal Investments LLC now owns 52,330 shares of the specialty chemicals company's stock valued at $1,894,000 after purchasing an additional 5,988 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Axalta Coating Systems by 62.7% in the 3rd quarter. Franklin Resources Inc. now owns 138,081 shares of the specialty chemicals company's stock valued at $5,097,000 after purchasing an additional 53,222 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in Axalta Coating Systems by 5.8% during the 3rd quarter. Lord Abbett & CO. LLC now owns 445,836 shares of the specialty chemicals company's stock worth $16,135,000 after purchasing an additional 24,402 shares during the last quarter. 98.28% of the stock is owned by hedge funds and other institutional investors.
Axalta Coating Systems Price Performance
Shares of Axalta Coating Systems stock traded up $0.88 on Friday, hitting $33.21. The company's stock had a trading volume of 2,491,349 shares, compared to its average volume of 1,989,724. The company has a market capitalization of $7.26 billion, a price-to-earnings ratio of 18.66, a price-to-earnings-growth ratio of 0.92 and a beta of 1.35. The firm has a fifty day moving average price of $32.85 and a 200-day moving average price of $35.69. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.47 and a current ratio of 2.01. Axalta Coating Systems has a 1 year low of $27.70 and a 1 year high of $41.66.
Axalta Coating Systems (NYSE:AXTA - Get Free Report) last announced its earnings results on Tuesday, February 4th. The specialty chemicals company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.09. Axalta Coating Systems had a return on equity of 26.29% and a net margin of 7.41%. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the company posted $0.43 EPS. The business's quarterly revenue was up 1.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Axalta Coating Systems will post 2.55 earnings per share for the current fiscal year.
About Axalta Coating Systems
(Get Free Report)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.
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