American Axle & Manufacturing Holdings, Inc. (NYSE:AXL – Get Free Report)’s stock price shot up 5.9% during mid-day trading on Monday following a better than expected earnings announcement. The company traded as high as $4.25 and last traded at $4.23. 525,458 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 1,838,914 shares. The stock had previously closed at $3.99.
The auto parts company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.03. American Axle & Manufacturing had a return on equity of 10.44% and a net margin of 0.57%. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the prior year, the firm earned $0.18 earnings per share. American Axle & Manufacturing’s revenue for the quarter was down 12.2% compared to the same quarter last year.
Wall Street Analyst Weigh In
AXL has been the topic of a number of research reports. Morgan Stanley cut 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 report on Monday, March 3rd. Barclays reduced their price objective on shares of American Axle & Manufacturing from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Cowen reiterated a “hold” rating on shares of American Axle & Manufacturing in a report on Monday. UBS Group decreased their price target on American Axle & Manufacturing from $6.00 to $3.50 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Finally, TD Cowen assumed coverage on American Axle & Manufacturing in a research note on Friday, March 7th. They set a “hold” rating and a $5.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.00.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Lazard Asset Management LLC acquired a new stake in American Axle & Manufacturing during the 4th quarter valued at $51,000. Ethic Inc. bought a new position in shares of American Axle & Manufacturing in the fourth quarter valued at about $59,000. Ground Swell Capital LLC acquired a new stake in shares of American Axle & Manufacturing during the 4th quarter worth about $61,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of American Axle & Manufacturing during the 4th quarter worth about $62,000. Finally, Cibc World Markets Corp acquired a new position in American Axle & Manufacturing in the 4th quarter valued at about $63,000. 91.41% of the stock is currently owned by institutional investors.
American Axle & Manufacturing Stock Performance
The stock has a market capitalization of $491.08 million, a P/E ratio of 14.82 and a beta of 1.71. The company’s fifty day simple moving average is $3.97 and its two-hundred day simple moving average is $5.25. The company has a debt-to-equity ratio of 4.58, a quick ratio of 1.25 and a current ratio of 1.63.
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.
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