American Axle & Manufacturing (NYSE:AXL) Stock Price Down 5.1% – What’s Next?

Shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) were down 5.1% during trading on Thursday . The stock traded as low as $4.20 and last traded at $4.26. Approximately 402,720 shares changed hands during trading, a decline of 75% from the average daily volume of 1,619,911 shares. The stock had previously closed at $4.49.

Analyst Upgrades and Downgrades

AXL has been the subject of a number of research analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $6.00 price target on shares of American Axle & Manufacturing in a report on Tuesday, February 18th. UBS Group reduced their price objective on American Axle & Manufacturing from $6.50 to $6.00 and set a “neutral” rating for the company in a research report on Tuesday, February 18th. Cowen assumed coverage on shares of American Axle & Manufacturing in a research report on Thursday, March 6th. They issued a “hold” rating for the company. TD Cowen initiated coverage on American Axle & Manufacturing in a research note on Friday, March 7th. They issued a “hold” rating and a $5.00 price objective on the stock. Finally, Barclays cut their target price on shares of American Axle & Manufacturing from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $6.69.

American Axle & Manufacturing Stock Down 3.8 %

The stock has a market cap of $490.49 million, a P/E ratio of 14.80 and a beta of 1.85. The company has a debt-to-equity ratio of 4.58, a quick ratio of 1.25 and a current ratio of 1.63. The firm’s 50-day moving average is $5.03 and its two-hundred day moving average is $5.76.

American Axle & Manufacturing (NYSE:AXL) last released its earnings results on Friday, February 14th. The auto parts company reported ($0.06) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.06). The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.39 billion. American Axle & Manufacturing had a return on equity of 10.44% and a net margin of 0.57%. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.09) earnings per share. On average, equities research analysts anticipate that American Axle & Manufacturing Holdings, Inc. will post 0.57 earnings per share for the current year.

Hedge Funds Weigh In On American Axle & Manufacturing

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

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.