American Axle & Manufacturing (NYSE:AXL) Trading Down 4.1% - What's Next?

Key Points

• American Axle & Manufacturing's stock fell 4.1% on Monday, closing at $5.51 with a trading volume decline of 24% from its average.
• Analysts have mixed ratings on the stock, with a consensus rating of "Hold" and an average price target of $6.25, while Morgan Stanley recently lowered their target from $8.00 to $7.50.
• The company reported earnings of $0.21 EPS for the last quarter, beating estimates, but revenues were down 5.9% year-over-year.

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL - Get Free Report) was down 4.1% on Monday . The stock traded as low as $5.50 and last traded at $5.51. Approximately 2,244,179 shares changed hands during trading, a decline of 24% from the average daily volume of 2,956,151 shares. The stock had previously closed at $5.74.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Cowen reaffirmed a "hold" rating on shares of American Axle & Manufacturing in a research note on Monday, May 5th. Wall Street Zen raised American Axle & Manufacturing from a "hold" rating to a "buy" rating in a research note on Saturday. Morgan Stanley decreased their price target on American Axle & Manufacturing from $8.00 to $7.50 and set an "overweight" rating on the stock in a report on Monday, May 19th. Finally, UBS Group reissued a "buy" rating on shares of American Axle & Manufacturing in a report on Sunday, August 10th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, American Axle & Manufacturing currently has a consensus rating of "Hold" and an average target price of $6.25.

American Axle & Manufacturing Stock Performance

The stock has a market cap of $659.77 million, a P/E ratio of 16.35, a PEG ratio of 0.64 and a beta of 1.59. The stock has a fifty day simple moving average of $4.59 and a 200-day simple moving average of $4.43. The company has a quick ratio of 1.40, a current ratio of 1.77 and a debt-to-equity ratio of 3.86.

American Axle & Manufacturing (NYSE:AXL - Get Free Report) last released its earnings results on Friday, August 8th. The auto parts company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.14 by $0.07. The firm had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.54 billion. American Axle & Manufacturing had a return on equity of 8.90% and a net margin of 0.73%. The business's quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.19 EPS. Equities analysts expect that American Axle & Manufacturing Holdings, Inc. will post 0.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On American Axle & Manufacturing

Several hedge funds have recently bought and sold shares of AXL. Signaturefd LLC lifted its holdings in American Axle & Manufacturing by 825.6% during the 2nd quarter. Signaturefd LLC now owns 6,979 shares of the auto parts company's stock worth $28,000 after purchasing an additional 6,225 shares during the last quarter. Riverbend Wealth Management LLC acquired a new position in shares of American Axle & Manufacturing in the second quarter valued at about $42,000. Grantham Mayo Van Otterloo & Co. LLC bought a new position in American Axle & Manufacturing during the second quarter worth about $47,000. Lazard Asset Management LLC acquired a new stake in American Axle & Manufacturing in the 4th quarter worth about $51,000. Finally, Ethic Inc. bought a new stake in American Axle & Manufacturing in the 4th quarter valued at about $59,000. 91.41% of the stock is currently owned by institutional investors and hedge funds.

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.

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