American Axle & Manufacturing (NYSE:DCH) Stock Rating Cut to Underperform at Bank of America

Key Points

• Bank of America downgraded American Axle & Manufacturing to “underperform” from “buy” and set a $5.00 price target, implying roughly 3.83% downside from the reported current price.
• Analyst sentiment is mixed, with four Buy, five Hold, and two Sell ratings; the consensus rating is Hold with an average price target of $9.01.
• The stock opened at $5.20 and trades near the lower end of its 12-month range of $4.91–$9.25. The company recently beat quarterly earnings estimates, reporting $0.32 per share versus the $0.14 consensus.

American Axle & Manufacturing (NYSE:DCH - Get Free Report) was downgraded by analysts at Bank of America from a "buy" rating to an "underperform" rating in a report issued on Thursday, Marketbeat reports. They currently have a $5.00 price objective on the stock. Bank of America's target price indicates a potential downside of 3.83% from the company's current price.

Other research analysts have also issued reports about the stock. Stifel Nicolaus upped their target price on shares of American Axle & Manufacturing from $6.00 to $7.00 and gave the stock a "hold" rating in a research report on Monday, August 10th. Royal Bank Of Canada lifted their price target on shares of American Axle & Manufacturing from $10.00 to $11.00 and gave the company an "outperform" rating in a research report on Monday, July 13th. Jefferies Financial Group lowered American Axle & Manufacturing from a "buy" rating to a "hold" rating and decreased their price target for the stock from $8.25 to $7.10 in a research note on Wednesday, September 23rd. JPMorgan Chase & Co. assumed coverage on American Axle & Manufacturing in a report on Tuesday, July 7th. They issued a "neutral" rating and a $8.00 price target on the stock. Finally, TD Cowen upgraded American Axle & Manufacturing from a "hold" rating to a "buy" rating and upped their price target for the stock from $8.00 to $10.00 in a report on Tuesday, September 8th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $9.01.

American Axle & Manufacturing Price Performance

American Axle & Manufacturing stock opened at $5.20 on Thursday. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.40 and a quick ratio of 1.02. The stock has a market capitalization of $1.24 billion, a PE ratio of 6.18, a price-to-earnings-growth ratio of 0.19 and a beta of 1.69. The business has a 50 day simple moving average of $6.15 and a 200-day simple moving average of $5.99. American Axle & Manufacturing has a 12 month low of $4.91 and a 12 month high of $9.25.

American Axle & Manufacturing (NYSE:DCH - Get Free Report) last issued its earnings results on Friday, August 7th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.18. American Axle & Manufacturing had a negative net margin of 2.01% and a positive return on equity of 15.94%. The business had revenue of $2.96 billion for the quarter. Equities analysts predict that American Axle & Manufacturing will post 0.94 earnings per share for the current year.

About American Axle & Manufacturing

American Axle & Manufacturing Holdings, Inc is a global automotive supplier that designs, engineers and manufactures driveline and metal-forming systems. Its products are used in passenger cars, crossover vehicles, sport utility vehicles, pickup trucks and commercial vehicles.

The company's product portfolio includes axles, driveshafts, differentials, power-transfer units, transmission components and other driveline assemblies. AAM also produces forged, cast and machined metal components, as well as propulsion technologies intended for vehicles with internal-combustion, hybrid and electric powertrains.

Founded in 1994 by Richard E.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.