American Axle & Manufacturing (NYSE:AXL) Trading 7.8% Higher – What’s Next?
by Teresa Graham · The Cerbat GemAmerican Axle & Manufacturing Holdings, Inc. (NYSE:AXL – Get Free Report) shares shot up 7.8% on Thursday . The company traded as high as $7.36 and last traded at $7.4350. 894,984 shares changed hands during trading, a decline of 64% from the average session volume of 2,492,299 shares. The stock had previously closed at $6.90.
Analyst Ratings Changes
A number of analysts have recently weighed in on AXL shares. Stifel Nicolaus increased their price objective on shares of American Axle & Manufacturing from $6.00 to $7.00 and gave the stock a “hold” rating in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of American Axle & Manufacturing in a research note on Monday, December 29th. Morgan Stanley set a $7.00 target price on American Axle & Manufacturing in a report on Monday, December 8th. Wall Street Zen lowered American Axle & Manufacturing from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 3rd. Finally, UBS Group raised their price objective on American Axle & Manufacturing from $7.50 to $8.50 and gave the company a “buy” rating in a report on Monday, October 6th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $7.08.
Read Our Latest Report on American Axle & Manufacturing
American Axle & Manufacturing Trading Up 10.2%
The company has a quick ratio of 1.43, a current ratio of 1.77 and a debt-to-equity ratio of 3.61. The business has a 50-day simple moving average of $6.39 and a 200-day simple moving average of $5.75. The company has a market cap of $902.68 million, a PE ratio of 23.02 and a beta of 1.58.
American Axle & Manufacturing (NYSE:AXL – Get Free Report) last issued its quarterly earnings data on Friday, November 7th. The auto parts company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.52 billion. American Axle & Manufacturing had a return on equity of 7.92% and a net margin of 0.72%.The company’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 earnings per share. On average, analysts predict that American Axle & Manufacturing Holdings, Inc. will post 0.57 EPS for the current fiscal year.
Hedge Funds Weigh In On American Axle & Manufacturing
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AXL. Royal Bank of Canada boosted its position in shares of American Axle & Manufacturing by 98.9% in the 1st quarter. Royal Bank of Canada now owns 60,425 shares of the auto parts company’s stock valued at $246,000 after purchasing an additional 30,046 shares during the period. EP Wealth Advisors LLC acquired a new position in shares of American Axle & Manufacturing in the 1st quarter valued at $87,000. AQR Capital Management LLC raised its position in American Axle & Manufacturing by 2.8% in the 1st quarter. AQR Capital Management LLC now owns 452,658 shares of the auto parts company’s stock valued at $1,842,000 after purchasing an additional 12,477 shares during the last quarter. Millennium Management LLC boosted its stake in American Axle & Manufacturing by 77.9% during the 1st quarter. Millennium Management LLC now owns 1,550,521 shares of the auto parts company’s stock worth $6,311,000 after purchasing an additional 679,042 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in American Axle & Manufacturing by 24.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,490,388 shares of the auto parts company’s stock worth $6,066,000 after purchasing an additional 291,908 shares during the last quarter. Hedge funds and other institutional investors own 91.41% of the company’s stock.
About American Axle & Manufacturing
American Axle & Manufacturing Holdings, Inc (NYSE: AXL) is a global designer, engineer and manufacturer of driveline and drivetrain systems and components for light vehicles, commercial trucks and off-highway applications. The company’s core product portfolio includes axles, driveshafts, half-shafts, drive module assemblies and differential gears, as well as advanced metallic and composite structures for electric and hybrid vehicles. AAM’s capabilities also encompass system testing, rapid prototyping and precision machining to support both high-volume production and low-volume, specialty vehicle applications.
Founded in 1994 following the divestiture of the Detroit Axle Division of General Motors, American Axle & Manufacturing completed its initial public offering in 1998.