American Axle & Manufacturing (NYSE:AXL) Trading 7% Higher

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)’s stock price was up 7% during mid-day trading on Friday . The stock traded as high as $6.62 and last traded at $6.61. Approximately 1,021,071 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 1,565,252 shares. The stock had previously closed at $6.18.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on AXL shares. Bank of America boosted their price objective on American Axle & Manufacturing from $7.00 to $7.50 and gave the stock an “underperform” rating in a research report on Monday, August 12th. Wolfe Research raised American Axle & Manufacturing to a “hold” rating in a research report on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 target price on shares of American Axle & Manufacturing in a research report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $7.58.

American Axle & Manufacturing Price Performance

The company has a fifty day moving average price of $6.39 and a two-hundred day moving average price of $6.95. The company has a current ratio of 1.68, a quick ratio of 1.30 and a debt-to-equity ratio of 4.42. The company has a market cap of $752.34 million, a price-to-earnings ratio of -93.14 and a beta of 1.95.

American Axle & Manufacturing (NYSE:AXL) last announced its quarterly earnings data on Friday, August 9th. The auto parts company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.08. American Axle & Manufacturing had a net margin of 0.04% and a return on equity of 3.47%. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the prior year, the company posted $0.12 EPS. The business’s revenue was up 3.9% on a year-over-year basis. As a group, equities research analysts anticipate that American Axle & Manufacturing Holdings, Inc. will post 0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On American Axle & Manufacturing

Several hedge funds and other institutional investors have recently modified their holdings of AXL. Norges Bank acquired a new position in American Axle & Manufacturing in the fourth quarter valued at about $7,024,000. Capstone Investment Advisors LLC bought a new stake in American Axle & Manufacturing during the 4th quarter worth approximately $266,000. Vanguard Group Inc. grew its position in American Axle & Manufacturing by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 14,146,031 shares of the auto parts company’s stock worth $124,627,000 after acquiring an additional 191,737 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in American Axle & Manufacturing by 19.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,912,907 shares of the auto parts company’s stock valued at $14,079,000 after purchasing an additional 304,847 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in American Axle & Manufacturing by 42.0% in the 1st quarter. BNP Paribas Financial Markets now owns 79,267 shares of the auto parts company’s stock valued at $583,000 after purchasing an additional 23,437 shares during the last quarter. Institutional investors own 91.41% of the company’s stock.

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.