American Axle & Manufacturing (NYSE:AXL) Stock Price Up 6.4% - Time to Buy?

Key Points

• American Axle & Manufacturing's stock price increased by 6.4% during trading, reaching around $6.03, as share volume declined by 6% from the average.
• Several analysts have upgraded their target prices for American Axle, with UBS Group raising its target from $7.50 to $8.50 while giving it a "buy" rating.
• The company reported earnings of $0.21 per share for the last quarter, surpassing expectations, despite a 5.9% decline in revenue year-over-year.

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL - Get Free Report) was up 6.4% during trading on Tuesday . The company traded as high as $5.98 and last traded at $6.03. Approximately 2,880,383 shares changed hands during trading, a decline of 6% from the average daily volume of 3,077,204 shares. The stock had previously closed at $5.66.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AXL shares. UBS Group boosted their target price on shares of American Axle & Manufacturing from $7.50 to $8.50 and gave the company a "buy" rating in a report on Monday, October 6th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of American Axle & Manufacturing in a research report on Tuesday, October 14th. Stifel Nicolaus lifted their price target on shares of American Axle & Manufacturing from $6.00 to $7.00 and gave the company a "hold" rating in a research report on Monday. Royal Bank Of Canada raised shares of American Axle & Manufacturing from a "sector perform" rating to an "outperform" rating and lifted their price target for the company from $6.00 to $8.00 in a research report on Tuesday, September 2nd. Finally, Wall Street Zen cut shares of American Axle & Manufacturing from a "strong-buy" rating to a "buy" rating in a research report on Saturday, October 11th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $7.17.

American Axle & Manufacturing Trading Up 7.0%

The company has a quick ratio of 1.40, a current ratio of 1.77 and a debt-to-equity ratio of 3.86. The business's 50 day moving average is $5.89 and its 200-day moving average is $4.80. The firm has a market cap of $718.51 million, a P/E ratio of 17.81, a price-to-earnings-growth ratio of 0.83 and a beta of 1.53.

American Axle & Manufacturing (NYSE:AXL - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The auto parts company reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.07. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.54 billion. American Axle & Manufacturing had a net margin of 0.73% and a return on equity of 8.90%. The business's revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.19 earnings per share. American Axle & Manufacturing has set its FY 2025 guidance at EPS. As a group, analysts forecast that American Axle & Manufacturing Holdings, Inc. will post 0.57 earnings per share for the current fiscal year.

Institutional Trading of American Axle & Manufacturing

Institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC grew its position in shares of American Axle & Manufacturing by 825.6% during the second quarter. Signaturefd LLC now owns 6,979 shares of the auto parts company's stock worth $28,000 after acquiring an additional 6,225 shares during the last quarter. Riverbend Wealth Management LLC acquired a new stake in American Axle & Manufacturing in the second quarter worth about $42,000. Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in American Axle & Manufacturing in the 2nd quarter valued at about $47,000. Golden State Equity Partners acquired a new stake in American Axle & Manufacturing in the 1st quarter valued at about $61,000. Finally, CWM LLC lifted its holdings in American Axle & Manufacturing by 685.1% in the 2nd quarter. CWM LLC now owns 16,965 shares of the auto parts company's stock valued at $69,000 after acquiring an additional 14,804 shares during the last quarter. Institutional investors 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.

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