American Axle & Manufacturing (NYSE:AXL) Given Sector Perform Rating at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of American Axle & Manufacturing (NYSE:AXL) in a report issued on Wednesday,Benzinga reports. Royal Bank of Canada currently has a $5.00 price target on the auto parts company’s stock.

Several other research analysts also recently issued reports on AXL. StockNews.com lowered shares of American Axle & Manufacturing from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Cowen began coverage on shares of American Axle & Manufacturing in a research note on Thursday, March 6th. They set a “hold” rating for the company. Morgan Stanley reduced their price objective on shares of American Axle & Manufacturing from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. UBS Group lowered their target price on American Axle & Manufacturing from $6.00 to $3.50 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Finally, TD Cowen started coverage on American Axle & Manufacturing in a research report on Friday, March 7th. They issued a “hold” rating and a $5.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, American Axle & Manufacturing has a consensus rating of “Hold” and an average price target of $6.25.

American Axle & Manufacturing Price Performance

Shares of NYSE:AXL opened at $3.33 on Wednesday. American Axle & Manufacturing has a one year low of $3.00 and a one year high of $7.98. The company has a debt-to-equity ratio of 4.58, a current ratio of 1.63 and a quick ratio of 1.25. The company has a market cap of $393.46 million, a price-to-earnings ratio of 11.88 and a beta of 1.70. The firm has a 50 day simple moving average of $4.35 and a 200 day simple moving average of $5.46.

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

Institutional Investors Weigh In On American Axle & Manufacturing

A number of hedge funds have recently added to or reduced their stakes in the business. QRG Capital Management Inc. raised its holdings in American Axle & Manufacturing by 38.6% during the first quarter. QRG Capital Management Inc. now owns 18,742 shares of the auto parts company’s stock worth $76,000 after buying an additional 5,222 shares during the last quarter. Sowell Financial Services LLC bought a new stake in shares of American Axle & Manufacturing during the first quarter worth about $367,000. Exchange Traded Concepts LLC acquired a new stake in shares of American Axle & Manufacturing in the 1st quarter worth about $890,000. 111 Capital bought a new position in American Axle & Manufacturing in the 4th quarter valued at about $67,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in American Axle & Manufacturing during the 4th quarter valued at about $62,000. 91.41% of the stock is currently owned by institutional investors.

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.