Traders Buy Large Volume of Call Options on Axalta Coating Systems (NYSE:AXTA)


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Axalta Coating Systems Ltd. (NYSE:AXTA) was the target of unusually large options trading on Tuesday. Stock investors acquired 28,250 call options on the company. This represents an increase of approximately 1,403% compared to the typical daily volume of 1,879 call options.

Axalta Coating Systems stock opened at $30.34 on Thursday. The company has a market capitalization of $7.14 billion, a PE ratio of 75.85, a PEG ratio of 6.20 and a beta of 1.47. Axalta Coating Systems has a 12-month low of $12.92 and a 12-month high of $31.48. The firm’s fifty day moving average is $28.95 and its 200 day moving average is $25.44. The company has a quick ratio of 2.17, a current ratio of 2.68 and a debt-to-equity ratio of 2.90.

Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings data on Wednesday, October 21st. The specialty chemicals company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.26. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $949.44 million. Axalta Coating Systems had a net margin of 2.49% and a return on equity of 20.51%. Sell-side analysts expect that Axalta Coating Systems will post 1.19 EPS for the current fiscal year.

In other Axalta Coating Systems news, Director Robert M. Mclaughlin sold 35,000 shares of the company’s stock in a transaction dated Wednesday, November 18th. The stock was sold at an average price of $28.36, for a total value of $992,600.00. Following the completion of the transaction, the director now owns 70,490 shares of the company’s stock, valued at approximately $1,999,096.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.50% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of Axalta Coating Systems by 17.7% in the 3rd quarter. BlackRock Inc. now owns 18,569,381 shares of the specialty chemicals company’s stock worth $411,683,000 after purchasing an additional 2,785,879 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in Axalta Coating Systems during the third quarter worth $58,685,000. Bank of America Corp DE lifted its stake in shares of Axalta Coating Systems by 81.6% in the second quarter. Bank of America Corp DE now owns 1,592,975 shares of the specialty chemicals company’s stock valued at $35,922,000 after buying an additional 715,812 shares in the last quarter. FMR LLC grew its holdings in shares of Axalta Coating Systems by 20.9% during the second quarter. FMR LLC now owns 3,424,563 shares of the specialty chemicals company’s stock valued at $77,224,000 after buying an additional 592,858 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in shares of Axalta Coating Systems by 455.1% during the third quarter. Cubist Systematic Strategies LLC now owns 487,570 shares of the specialty chemicals company’s stock worth $10,809,000 after acquiring an additional 399,743 shares in the last quarter. Hedge funds and other institutional investors own 91.56% of the company’s stock.

AXTA has been the subject of several recent research reports. The Goldman Sachs Group upgraded shares of Axalta Coating Systems from a “buy” rating to a “conviction-buy” rating in a research report on Wednesday, October 14th. KeyCorp lifted their target price on Axalta Coating Systems from $28.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, October 23rd. Morgan Stanley increased their price target on Axalta Coating Systems from $27.00 to $32.00 and gave the company an “equal weight” rating in a research note on Monday, December 14th. Zacks Investment Research lowered Axalta Coating Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, December 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Axalta Coating Systems from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, October 23rd. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $28.25.

About Axalta Coating Systems

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. It operates through two segments, Performance Coatings and Transportation Coatings. The company offers water and solvent borne products and systems used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops.

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