American Axle & Manufacturing (NYSE:AXL) Sets New 52-Week Low After Analyst Downgrade

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)’s share price reached a new 52-week low during mid-day trading on Tuesday after Morgan Stanley lowered their price target on the stock from $10.00 to $8.00. Morgan Stanley currently has an overweight rating on the stock. American Axle & Manufacturing traded as low as $4.48 and last traded at $4.56, with a volume of 94607 shares changing hands. The stock had previously closed at $4.75.

Other research analysts have also recently issued research reports about the company. Barclays dropped their price objective on 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. UBS Group reduced their target price on American Axle & Manufacturing from $6.50 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. StockNews.com downgraded American Axle & Manufacturing from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $6.00 price objective on shares of American Axle & Manufacturing in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.93.

Hedge Funds Weigh In On American Axle & Manufacturing

A number of large investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio acquired a new position in shares of American Axle & Manufacturing during the 4th quarter worth about $827,000. PharVision Advisers LLC purchased a new stake in American Axle & Manufacturing during the 4th quarter worth approximately $96,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of American Axle & Manufacturing by 17.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 356,460 shares of the auto parts company’s stock valued at $2,078,000 after acquiring an additional 52,751 shares during the last quarter. Squarepoint Ops LLC lifted its position in shares of American Axle & Manufacturing by 207.4% in the fourth quarter. Squarepoint Ops LLC now owns 507,187 shares of the auto parts company’s stock valued at $2,957,000 after acquiring an additional 342,211 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of American Axle & Manufacturing by 44.4% in the fourth quarter. ProShare Advisors LLC now owns 34,700 shares of the auto parts company’s stock worth $202,000 after acquiring an additional 10,663 shares during the last quarter. 91.41% of the stock is currently owned by institutional investors and hedge funds.

American Axle & Manufacturing Price Performance

The company has a 50-day moving average of $5.51 and a 200 day moving average of $5.99. The company has a quick ratio of 1.25, a current ratio of 1.63 and a debt-to-equity ratio of 4.58. The stock has a market capitalization of $535.82 million, a PE ratio of 16.25 and a beta of 1.94.

American Axle & Manufacturing (NYSE:AXL) last posted its quarterly earnings results on Friday, February 14th. The auto parts company reported ($0.06) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.06). The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.39 billion. American Axle & Manufacturing had a net margin of 0.57% and a return on equity of 10.44%. American Axle & Manufacturing’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.09) earnings per share. Sell-side analysts predict that American Axle & Manufacturing Holdings, Inc. will post 0.57 EPS for the current year.

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.