American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Receives Average Rating of “Reduce” from Brokerages

Shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) have earned a consensus recommendation of “Reduce” from the six brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $7.30.

Separately, Barclays reduced their price target on shares of American Axle & Manufacturing from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Wednesday.

American Axle & Manufacturing Price Performance

Shares of AXL traded down $0.18 during trading hours on Wednesday, reaching $5.74. 493,189 shares of the company’s stock traded hands, compared to its average volume of 1,476,910. The firm’s 50 day simple moving average is $6.20 and its 200-day simple moving average is $6.31. The stock has a market cap of $674.32 million, a PE ratio of 23.85 and a beta of 1.96. American Axle & Manufacturing has a 12 month low of $5.41 and a 12 month high of $8.98. The company has a current ratio of 1.65, a quick ratio of 1.29 and a debt-to-equity ratio of 4.28.

American Axle & Manufacturing (NYSE:AXL) last issued its quarterly earnings results on Friday, November 8th. The auto parts company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.25. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.51 billion. American Axle & Manufacturing had a net margin of 0.48% and a return on equity of 9.63%. The business’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period last year, the business earned ($0.11) earnings per share. Equities analysts expect that American Axle & Manufacturing will post 0.47 EPS for the current year.

Hedge Funds Weigh In On American Axle & Manufacturing

Several hedge funds and other institutional investors have recently bought and sold shares of AXL. Thrivent Financial for Lutherans increased its stake in shares of American Axle & Manufacturing by 45.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 385,067 shares of the auto parts company’s stock worth $2,380,000 after purchasing an additional 119,991 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of American Axle & Manufacturing during the 3rd quarter valued at about $62,000. Barclays PLC grew its stake in shares of American Axle & Manufacturing by 274.4% during the 3rd quarter. Barclays PLC now owns 199,795 shares of the auto parts company’s stock valued at $1,234,000 after acquiring an additional 146,430 shares during the period. FMR LLC increased its holdings in American Axle & Manufacturing by 25.8% in the 3rd quarter. FMR LLC now owns 511,378 shares of the auto parts company’s stock worth $3,160,000 after acquiring an additional 104,936 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in American Axle & Manufacturing by 540.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 199,514 shares of the auto parts company’s stock worth $1,233,000 after acquiring an additional 168,348 shares during the period. Institutional investors own 91.41% of the company’s stock.

About American Axle & Manufacturing

American Axle & Manufacturing Holdings, Inc engages in the manufacture, engineering, design, and validation of driveline systems and related components. It operates through the Driveline and Metal Forming segments. The Driveline segment consists of axles, drive shafts, power transfer units, rear drive modules, and electric and hybrid driveline products and systems for light trucks, service utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.