American Axle & Manufacturing (NYSE:AXL) Price Target Raised to $8.00

American Axle & Manufacturing (NYSE:AXL - Get Free Report) had its price objective lifted by equities researchers at Citigroup from $7.50 to $8.00 in a report released on Monday, Benzinga reports. The brokerage presently has a "neutral" rating on the auto parts company's stock. Citigroup's target price suggests a potential upside of 4.51% from the company's current price.

A number of other research firms have also recently commented on AXL. StockNews.com upgraded American Axle & Manufacturing from a "hold" rating to a "buy" rating in a research report on Monday, April 8th. UBS Group increased their target price on American Axle & Manufacturing from $7.00 to $8.00 and gave the company a "neutral" rating in a research report on Monday. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $8.00.

American Axle & Manufacturing Trading Up 2.2 %

Shares of NYSE AXL traded up $0.17 during midday trading on Monday, hitting $7.66. The company's stock had a trading volume of 1,071,928 shares, compared to its average volume of 1,765,539. The business's 50 day moving average is $7.10 and its two-hundred day moving average is $7.50. American Axle & Manufacturing has a 12-month low of $6.29 and a 12-month high of $9.55. The company has a current ratio of 1.69, a quick ratio of 1.31 and a debt-to-equity ratio of 4.40. The firm has a market cap of $899.77 million, a P/E ratio of -109.34, a price-to-earnings-growth ratio of 2.69 and a beta of 2.19.

American Axle & Manufacturing (NYSE:AXL - Get Free Report) last issued its quarterly earnings data on Friday, May 3rd. The auto parts company reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.16. American Axle & Manufacturing had a positive return on equity of 1.92% and a negative net margin of 0.13%. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the company earned ($0.01) earnings per share. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities research analysts expect that American Axle & Manufacturing will post 0.35 EPS for the current year.

Institutional Investors Weigh In On American Axle & Manufacturing

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in American Axle & Manufacturing during the third quarter worth $457,000. New York State Teachers Retirement System boosted its stake in shares of American Axle & Manufacturing by 1.9% in the third quarter. New York State Teachers Retirement System now owns 154,347 shares of the auto parts company's stock valued at $1,121,000 after purchasing an additional 2,818 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in American Axle & Manufacturing by 44.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,728 shares of the auto parts company's stock valued at $172,000 after buying an additional 7,249 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of American Axle & Manufacturing by 20.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,205,502 shares of the auto parts company's stock valued at $8,752,000 after purchasing an additional 204,700 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in American Axle & Manufacturing by 2.3% during the third quarter. Jennison Associates LLC now owns 117,439 shares of the auto parts company's stock worth $853,000 after purchasing an additional 2,591 shares in the last quarter. 91.41% of the stock is owned by hedge funds and other institutional investors.

American Axle & Manufacturing Company Profile

American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, and manufactures driveline and metal forming technologies that supports electric, hybrid, and internal combustion vehicles. It operates through two segments, Driveline and Metal Forming segments. The Driveline segment offers front and rear axles, driveshafts, differential assemblies, clutch modules, balance shaft systems, disconnecting driveline technology, and electric and hybrid driveline products and systems for light trucks, sport utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.