American Axle & Manufacturing (NYSE:AXL) Stock Price Up 10.3% – Here’s Why

Shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) rose 10.3% on Tuesday . The stock traded as high as $5.56 and last traded at $5.68. Approximately 652,588 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 2,169,440 shares. The stock had previously closed at $5.15.

Analysts Set New Price Targets

AXL has been the subject of several research analyst reports. UBS Group reduced their price objective on shares of American Axle & Manufacturing from $6.50 to $6.00 and set a “neutral” rating for the company in a report on Tuesday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $6.00 price target on shares of American Axle & Manufacturing in a research report on Tuesday. StockNews.com cut shares of American Axle & Manufacturing from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Barclays dropped 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, January 22nd. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $6.75.

American Axle & Manufacturing Trading Up 0.3 %

The company has a fifty day simple moving average of $5.66 and a 200-day simple moving average of $6.05. 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 stock has a market cap of $689.61 million, a price-to-earnings ratio of 20.95 and a beta of 1.94.

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

Hedge Funds Weigh In On American Axle & Manufacturing

Large investors have recently made changes to their positions in the business. KBC Group NV increased its holdings in shares of American Axle & Manufacturing by 81.3% in the 3rd quarter. KBC Group NV now owns 7,160 shares of the auto parts company’s stock valued at $44,000 after purchasing an additional 3,211 shares during the period. Lazard Asset Management LLC acquired a new position in shares of American Axle & Manufacturing in the 4th quarter valued at about $51,000. XTX Topco Ltd acquired a new position in shares of American Axle & Manufacturing in the 3rd quarter valued at about $62,000. Ethic Inc. acquired a new position in shares of American Axle & Manufacturing in the 4th quarter valued at about $59,000. Finally, Ground Swell Capital LLC acquired a new position in shares of American Axle & Manufacturing in the 4th quarter valued at about $61,000. Institutional investors and hedge funds 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.