Shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL - Get Free Report) were up 5.9% on Monday after the company announced better than expected quarterly earnings. The company traded as high as $4.25 and last traded at $4.23. Approximately 525,458 shares changed hands during trading, a decline of 71% from the average daily volume of 1,838,914 shares. The stock had previously closed at $3.99.
The auto parts company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.03. American Axle & Manufacturing had a net margin of 0.57% and a return on equity of 10.44%. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the company posted $0.18 EPS. The company's revenue for the quarter was down 12.2% on a year-over-year basis.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on AXL shares. TD Cowen assumed coverage on shares of American Axle & Manufacturing in a report on Friday, March 7th. They issued a "hold" rating and a $5.00 price target for the company. Royal Bank of Canada reiterated a "sector perform" rating and issued a $5.00 price objective on shares of American Axle & Manufacturing in a report on Wednesday, April 16th. Morgan Stanley decreased their target price on 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. StockNews.com raised American Axle & Manufacturing from a "hold" rating to a "buy" rating in a research note on Thursday. Finally, Cowen reiterated a "hold" rating on shares of American Axle & Manufacturing in a research report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, American Axle & Manufacturing presently has a consensus rating of "Hold" and an average price target of $6.00.
Check Out Our Latest Report on American Axle & Manufacturing
Institutional Trading of American Axle & Manufacturing
Hedge funds have recently made changes to their positions in the company. Barclays PLC increased its holdings in American Axle & Manufacturing by 274.4% in the 3rd quarter. Barclays PLC now owns 199,795 shares of the auto parts company's stock valued at $1,234,000 after purchasing an additional 146,430 shares during the last quarter. EMC Capital Management boosted its position in American Axle & Manufacturing by 151.4% in the 4th quarter. EMC Capital Management now owns 23,005 shares of the auto parts company's stock valued at $134,000 after buying an additional 13,856 shares during the period. Empowered Funds LLC increased its position in shares of American Axle & Manufacturing by 5.1% during the fourth quarter. Empowered Funds LLC now owns 551,116 shares of the auto parts company's stock worth $3,213,000 after acquiring an additional 26,890 shares during the period. Entropy Technologies LP raised its stake in shares of American Axle & Manufacturing by 288.5% in the fourth quarter. Entropy Technologies LP now owns 59,633 shares of the auto parts company's stock valued at $348,000 after acquiring an additional 44,282 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in American Axle & Manufacturing by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 570,074 shares of the auto parts company's stock worth $3,324,000 after purchasing an additional 15,976 shares in the last quarter. Hedge funds and other institutional investors own 91.41% of the company's stock.
American Axle & Manufacturing Trading Down 1.2 %
The company has a current ratio of 1.63, a quick ratio of 1.25 and a debt-to-equity ratio of 4.58. The company has a market cap of $506.47 million, a PE ratio of 15.29 and a beta of 1.71. The company has a fifty day simple moving average of $3.94 and a two-hundred day simple moving average of $5.22.
American Axle & Manufacturing Company Profile
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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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