Axalta Coating Systems Ltd (NYSE:AXTA) Short Interest Down 12.5% in July

Axalta Coating Systems Ltd (NYSE:AXTA) was the recipient of a significant decline in short interest in July. As of July 31st, there was short interest totalling 4,455,600 shares, a decline of 12.5% from the June 30th total of 5,090,500 shares. Based on an average daily volume of 2,640,000 shares, the short-interest ratio is currently 1.7 days. Approximately 1.9% of the company’s stock are short sold.

A number of brokerages recently commented on AXTA. Maxim Group began coverage on shares of Axalta Coating Systems in a research report on Wednesday, June 19th. Credit Suisse Group boosted their price objective on shares of Axalta Coating Systems from $34.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Zacks Investment Research upgraded shares of Axalta Coating Systems from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Tuesday, July 30th. JPMorgan Chase & Co. cut shares of Axalta Coating Systems from an “overweight” rating to a “neutral” rating and cut their target price for the company from $30.00 to $27.00 in a research note on Friday, April 26th. Finally, Robert W. Baird increased their price objective on shares of Axalta Coating Systems from $30.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $31.77.

Shares of NYSE:AXTA traded up $0.04 during mid-day trading on Thursday, reaching $27.59. The stock had a trading volume of 41,302 shares, compared to its average volume of 2,576,076. The company has a market cap of $6.52 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 1.20 and a beta of 1.46. The stock has a 50 day moving average of $29.64. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.71 and a current ratio of 2.32. Axalta Coating Systems has a twelve month low of $21.58 and a twelve month high of $32.14.



Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings results on Thursday, July 25th. The specialty chemicals company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.09. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.19 billion. Axalta Coating Systems had a net margin of 4.45% and a return on equity of 27.59%. Axalta Coating Systems’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same period last year, the company posted $0.36 EPS. On average, equities research analysts expect that Axalta Coating Systems will post 1.79 EPS for the current fiscal year.

In related news, Director Charles W. Shaver sold 500,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $25.24, for a total transaction of $12,620,000.00. Following the transaction, the director now directly owns 492,369 shares of the company’s stock, valued at $12,427,393.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.10% of the company’s stock.

Several large investors have recently made changes to their positions in AXTA. Nuveen Asset Management LLC bought a new position in shares of Axalta Coating Systems during the 2nd quarter worth approximately $123,812,000. Senator Investment Group LP bought a new position in shares of Axalta Coating Systems during the 2nd quarter worth approximately $119,080,000. Renaissance Technologies LLC grew its stake in shares of Axalta Coating Systems by 73.4% in the second quarter. Renaissance Technologies LLC now owns 4,691,100 shares of the specialty chemicals company’s stock valued at $139,654,000 after buying an additional 1,986,400 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in shares of Axalta Coating Systems by 287.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,390,566 shares of the specialty chemicals company’s stock valued at $41,397,000 after buying an additional 1,031,292 shares in the last quarter. Finally, Marshall Wace North America L.P. grew its stake in shares of Axalta Coating Systems by 1,340.2% in the first quarter. Marshall Wace North America L.P. now owns 758,712 shares of the specialty chemicals company’s stock valued at $19,127,000 after buying an additional 706,032 shares in the last quarter. Institutional investors and hedge funds own 97.90% of the company’s stock.

About Axalta Coating Systems

Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings systems. It operates in two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers water and solvent borne products and systems that are used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.

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