Citigroup Boosts American Axle & Manufacturing (NYSE:AXL) Price Target to $11.00

American Axle & Manufacturing (NYSE:AXLGet Rating) had its price target increased by Citigroup from $8.50 to $11.00 in a report issued on Wednesday, The Fly reports. Citigroup’s price objective points to a potential upside of 8.27% from the stock’s previous close.

A number of other equities research analysts have also issued reports on AXL. StockNews.com started coverage on American Axle & Manufacturing in a research note on Wednesday, October 12th. They issued a “buy” rating for the company. Morgan Stanley raised their price objective on American Axle & Manufacturing from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, August 11th. TheStreet upgraded American Axle & Manufacturing from a “d+” rating to a “c-” rating in a research note on Friday, August 5th. Bank of America lowered American Axle & Manufacturing from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $16.00 to $13.00 in a research note on Friday, September 9th. Finally, Wolfe Research lowered American Axle & Manufacturing from an “outperform” rating to a “peer perform” rating in a research note on Thursday, August 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $9.50.

American Axle & Manufacturing Stock Performance

American Axle & Manufacturing stock opened at $10.16 on Wednesday. The stock’s 50-day moving average is $8.64 and its 200-day moving average is $8.68. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 1,017.02, a price-to-earnings-growth ratio of 1.56 and a beta of 2.23. The company has a debt-to-equity ratio of 6.11, a current ratio of 1.69 and a quick ratio of 1.32. American Axle & Manufacturing has a 12 month low of $6.36 and a 12 month high of $11.96.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AXL. Metropolitan Life Insurance Co NY raised its stake in American Axle & Manufacturing by 18.2% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 6,900 shares of the auto parts company’s stock valued at $47,000 after acquiring an additional 1,061 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in American Axle & Manufacturing by 7.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 16,151 shares of the auto parts company’s stock valued at $110,000 after acquiring an additional 1,125 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in American Axle & Manufacturing by 0.9% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 128,704 shares of the auto parts company’s stock valued at $879,000 after acquiring an additional 1,196 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in American Axle & Manufacturing by 8.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 19,125 shares of the auto parts company’s stock valued at $131,000 after acquiring an additional 1,469 shares in the last quarter. Finally, Captrust Financial Advisors raised its stake in American Axle & Manufacturing by 11.7% during the 2nd quarter. Captrust Financial Advisors now owns 14,395 shares of the auto parts company’s stock valued at $108,000 after acquiring an additional 1,505 shares in the last quarter. Institutional investors and hedge funds own 95.20% of the company’s stock.

American Axle & Manufacturing Company Profile

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American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, and manufactures driveline and metal forming technologies that supports electric, hybrid, and internal combustion vehicles in the United States, Mexico, South America, China, other Asian countries, and Europe.

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Analyst Recommendations for American Axle & Manufacturing (NYSE:AXL)

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