American Axle & Manufacturing (NYSE:AXL) Upgraded at Wall Street Zen

Key Points

• American Axle & Manufacturing has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, indicating positive sentiment from analysts for the company's stock.
• The company reported $0.21 EPS for the last quarter, surpassing analysts' expectations of $0.14, despite a year-over-year revenue decline of 5.9%.
• Institutional investors hold 91.41% of American Axle & Manufacturing's stock, highlighting significant interest and investment from larger financial entities.

American Axle & Manufacturing (NYSE:AXL - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

A number of other equities analysts have also commented on the company. Cowen reaffirmed a "hold" rating on shares of American Axle & Manufacturing in a research note on Monday, May 5th. Morgan Stanley cut their price objective on American Axle & Manufacturing from $8.00 to $7.50 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Finally, UBS Group reissued a "buy" rating on shares of American Axle & Manufacturing in a research note on Sunday, August 10th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $6.25.

American Axle & Manufacturing Stock Performance

Shares of AXL stock opened at $5.74 on Friday. The business's 50-day moving average price is $4.59 and its 200-day moving average price is $4.44. American Axle & Manufacturing has a 12 month low of $3.00 and a 12 month high of $7.03. The firm has a market capitalization of $681.11 million, a price-to-earnings ratio of 16.88, a PEG ratio of 0.65 and a beta of 1.59. The company has a current ratio of 1.77, a quick ratio of 1.40 and a debt-to-equity ratio of 3.86.

American Axle & Manufacturing (NYSE:AXL - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The auto parts company reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.07. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was down 5.9% on a year-over-year basis. During the same period last year, the firm posted $0.19 earnings per share. Equities research analysts forecast that American Axle & Manufacturing will post 0.57 EPS for the current year.

Hedge Funds Weigh In On American Axle & Manufacturing

A number of institutional investors have recently modified their holdings of AXL. Signaturefd LLC raised 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 purchasing an additional 6,225 shares during the period. Riverbend Wealth Management LLC acquired a new position in shares of American Axle & Manufacturing during the second quarter worth approximately $42,000. Grantham Mayo Van Otterloo & Co. LLC acquired a new position in shares of American Axle & Manufacturing during the second quarter worth approximately $47,000. Lazard Asset Management LLC acquired a new position in shares of American Axle & Manufacturing during the fourth quarter worth approximately $51,000. Finally, Ethic Inc. acquired a new position in shares of American Axle & Manufacturing during the fourth quarter worth approximately $59,000. 91.41% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.