American Axle & Manufacturing (NYSE:AXL) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of American Axle & Manufacturing (NYSE:AXL) from a buy rating to a hold rating in a research report released on Monday morning.

Separately, Barclays decreased 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 note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $6.75.

American Axle & Manufacturing Stock Up 1.1 %

AXL stock opened at $5.85 on Monday. The company has a current ratio of 1.63, a quick ratio of 1.25 and a debt-to-equity ratio of 4.58. The firm has a market capitalization of $687.26 million, a PE ratio of 20.88 and a beta of 1.94. American Axle & Manufacturing has a 1-year low of $4.70 and a 1-year high of $8.20. The business’s 50 day simple moving average is $5.68 and its 200 day simple moving average is $6.05.

American Axle & Manufacturing (NYSE:AXL) last released its quarterly earnings data on Friday, February 14th. The auto parts company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). American Axle & Manufacturing had a net margin of 0.57% and a return on equity of 10.44%. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the previous year, the company earned ($0.09) earnings per share. The company’s quarterly revenue was down 5.6% on a year-over-year basis. As a group, research analysts anticipate that American Axle & Manufacturing will post 0.52 EPS for the current year.

Hedge Funds Weigh In On American Axle & Manufacturing

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of American Axle & Manufacturing by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 15,713,232 shares of the auto parts company’s stock worth $91,608,000 after purchasing an additional 462,847 shares in the last quarter. State Street Corp grew its position in American Axle & Manufacturing by 0.5% during the third quarter. State Street Corp now owns 4,704,889 shares of the auto parts company’s stock worth $29,076,000 after buying an additional 23,538 shares in the last quarter. American Century Companies Inc. grew its position in American Axle & Manufacturing by 12.4% during the fourth quarter. American Century Companies Inc. now owns 3,856,509 shares of the auto parts company’s stock worth $22,483,000 after buying an additional 426,933 shares in the last quarter. Geode Capital Management LLC grew its position in American Axle & Manufacturing by 0.8% during the third quarter. Geode Capital Management LLC now owns 2,654,883 shares of the auto parts company’s stock worth $16,411,000 after buying an additional 21,054 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of American Axle & Manufacturing by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,562,553 shares of the auto parts company’s stock worth $15,837,000 after purchasing an additional 65,535 shares in the last quarter. 91.41% of the stock is currently owned by institutional investors and hedge funds.

American Axle & Manufacturing Company Profile

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.