American Axle & Manufacturing (NYSE:AXL) Upgraded at Wolfe Research

Wolfe Research upgraded shares of American Axle & Manufacturing (NYSE:AXL) to a hold rating in a report issued on Wednesday morning, Zacks.com reports.

Separately, Bank of America increased their price target on American Axle & Manufacturing from $7.00 to $7.50 and gave the company an underperform rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $7.90.

American Axle & Manufacturing Price Performance

NYSE AXL opened at $5.90 on Wednesday. American Axle & Manufacturing has a 52 week low of $5.85 and a 52 week high of $8.99. The firm has a market capitalization of $693.56 million, a P/E ratio of -84.29 and a beta of 2.04. The company has a quick ratio of 1.30, a current ratio of 1.68 and a debt-to-equity ratio of 4.42. The company has a 50-day moving average price of $6.68 and a 200-day moving average price of $7.04.

American Axle & Manufacturing (NYSE:AXL) last posted its earnings results on Friday, August 9th. The auto parts company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.08. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.59 billion. American Axle & Manufacturing had a return on equity of 3.47% and a net margin of 0.04%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.12 earnings per share. Equities research analysts anticipate that American Axle & Manufacturing will post 0.35 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. nVerses Capital LLC acquired a new position in shares of American Axle & Manufacturing during the second quarter worth about $41,000. Quarry LP boosted its holdings in shares of American Axle & Manufacturing by 159.2% during the second quarter. Quarry LP now owns 7,899 shares of the auto parts company’s stock worth $55,000 after purchasing an additional 4,851 shares during the last quarter. EntryPoint Capital LLC purchased a new position in shares of American Axle & Manufacturing in the 1st quarter worth $76,000. Headlands Technologies LLC acquired a new stake in American Axle & Manufacturing during the 2nd quarter worth approximately $75,000. Finally, QRG Capital Management Inc. lifted its holdings in shares of American Axle & Manufacturing by 13.5% during the 2nd quarter. QRG Capital Management Inc. now owns 14,037 shares of the auto parts company’s stock valued at $98,000 after acquiring an additional 1,665 shares in the last quarter. 91.41% of the stock is owned by hedge funds and other institutional investors.

American Axle & Manufacturing Company Profile

American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, and manufactures driveline and metal forming technologies that supports electric, hybrid, and internal combustion vehicles. It operates through two segments, Driveline and Metal Forming segments. The Driveline segment offers front and rear axles, driveshafts, differential assemblies, clutch modules, balance shaft systems, disconnecting driveline technology, and electric and hybrid driveline products and systems for light trucks, sport utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.