Axalta Coating Systems (NYSE:AXTA) Shares Gap Down – Time to Sell?

Axalta Coating Systems Ltd. (NYSE:AXTA)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $33.55, but opened at $31.54. Axalta Coating Systems shares last traded at $31.91, with a volume of 520,504 shares traded.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AXTA shares. Wells Fargo & Company boosted their target price on Axalta Coating Systems from $38.00 to $39.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Bank of America cut their target price on shares of Axalta Coating Systems from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Royal Bank Of Canada restated a “sector perform” rating and set a $30.00 target price (down previously from $35.00) on shares of Axalta Coating Systems in a report on Wednesday, November 19th. Citigroup increased their price target on Axalta Coating Systems from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, December 18th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $35.00 price objective (down from $42.00) on shares of Axalta Coating Systems in a research report on Wednesday, January 7th. Seven analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $35.56.

Axalta Coating Systems Stock Down 1.5%

The company has a market capitalization of $7.21 billion, a price-to-earnings ratio of 16.16, a P/E/G ratio of 1.30 and a beta of 1.29. The company has a quick ratio of 1.59, a current ratio of 2.20 and a debt-to-equity ratio of 1.45. The firm has a 50 day moving average price of $32.12 and a two-hundred day moving average price of $30.30.

Institutional Trading of Axalta Coating Systems

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Gamco Investors INC. ET AL boosted its stake in Axalta Coating Systems by 3.7% during the 4th quarter. Gamco Investors INC. ET AL now owns 126,010 shares of the specialty chemicals company’s stock valued at $4,071,000 after acquiring an additional 4,500 shares during the last quarter. Gabelli Funds LLC raised its stake in shares of Axalta Coating Systems by 17.0% in the 4th quarter. Gabelli Funds LLC now owns 10,300 shares of the specialty chemicals company’s stock valued at $333,000 after purchasing an additional 1,500 shares in the last quarter. North Dakota State Investment Board bought a new position in shares of Axalta Coating Systems during the fourth quarter worth about $249,000. Leeward Investments LLC MA grew its stake in Axalta Coating Systems by 74.3% in the fourth quarter. Leeward Investments LLC MA now owns 758,718 shares of the specialty chemicals company’s stock worth $24,514,000 after purchasing an additional 323,314 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in Axalta Coating Systems by 31.9% in the fourth quarter. Allworth Financial LP now owns 3,173 shares of the specialty chemicals company’s stock valued at $103,000 after buying an additional 768 shares during the last quarter. Institutional investors own 98.28% of the company’s stock.

Axalta Coating Systems Company Profile

Axalta Coating Systems is a global leader in the development, manufacture and sale of liquid and powder coatings. The company’s product portfolio spans refinish coatings for the automotive collision repair market, original equipment manufacturer (OEM) coatings for new vehicle production, and industrial coatings including electrodeposition (E-coat) and powder coatings for a variety of sectors such as architecture, heavy equipment and general industrial applications.

Tracing its roots to the 19th century and rebranded as Axalta following its separation from DuPont Performance Coatings in 2013, the company has built a presence in more than 100 countries.