American Axle & Manufacturing (NYSE:AXL) Trading Up 5.9% After Earnings Beat

Shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL - Get Free Report) traded up 5.9% during trading on Monday following a better than expected earnings announcement. The stock traded as high as $4.25 and last traded at $4.23. 525,458 shares were traded during 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 analysts' consensus estimates of $0.06 by $0.03. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.43 billion. American Axle & Manufacturing had a return on equity of 10.44% and a net margin of 0.57%. American Axle & Manufacturing's quarterly revenue was down 12.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS.

Wall Street Analysts Forecast Growth

AXL has been the subject of several analyst reports. Morgan Stanley dropped their price target on shares of American Axle & Manufacturing from $10.00 to $8.00 and set an "overweight" rating for the company in a research note on Monday, March 3rd. UBS Group reduced their price target on American Axle & Manufacturing from $6.00 to $3.50 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. TD Cowen assumed coverage on American Axle & Manufacturing in a research report on Friday, March 7th. They set a "hold" rating and a $5.00 price objective for the company. StockNews.com cut American Axle & Manufacturing from a "buy" rating to a "hold" rating in a report on Monday, February 17th. Finally, Cowen started coverage on shares of American Axle & Manufacturing in a report on Thursday, March 6th. They set a "hold" rating for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $6.25.

Institutional Investors Weigh In On American Axle & Manufacturing

Several hedge funds and other institutional investors have recently bought and sold shares of AXL. Lazard Asset Management LLC acquired a new stake in shares of American Axle & Manufacturing in the 4th quarter valued at about $51,000. Ethic Inc. acquired a new position in shares of American Axle & Manufacturing during the fourth quarter worth approximately $59,000. Ground Swell Capital LLC bought a new position in shares of American Axle & Manufacturing in the 4th quarter worth $61,000. Wealth Enhancement Advisory Services LLC acquired a new stake in American Axle & Manufacturing in the 4th quarter valued at $62,000. Finally, Cibc World Markets Corp bought a new stake in American Axle & Manufacturing during the 4th quarter valued at $63,000. 91.41% of the stock is owned by institutional investors.

American Axle & Manufacturing Stock Performance

The stock has a market cap of $504.57 million, a price-to-earnings ratio of 15.31 and a beta of 1.70. The company's fifty day simple moving average is $4.01 and its two-hundred day simple moving average is $5.28. The company has a debt-to-equity ratio of 4.58, a current ratio of 1.63 and a quick ratio of 1.25.

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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