American Axle & Manufacturing (NYSE:AXL) Price Target Increased to $7.50 by Analysts at Bank of America

American Axle & Manufacturing (NYSE:AXL) had its price objective upped by Bank of America from $7.00 to $7.50 in a report issued on Monday morning, Benzinga reports. They currently have an underperform rating on the auto parts company’s stock.

Several other equities analysts also recently weighed in on the stock. Citigroup lifted their price target on shares of American Axle & Manufacturing from $7.50 to $8.00 and gave the company a neutral rating in a report on Monday, May 6th. UBS Group raised their price target on American Axle & Manufacturing from $7.00 to $8.00 and gave the company a neutral rating in a report on Monday, May 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $7.90.

American Axle & Manufacturing Stock Performance

Shares of NYSE AXL opened at $6.34 on Monday. The company has a current ratio of 1.69, a quick ratio of 1.31 and a debt-to-equity ratio of 4.40. American Axle & Manufacturing has a 12-month low of $5.99 and a 12-month high of $8.99. The firm has a market capitalization of $744.70 million, a price-to-earnings ratio of -90.50 and a beta of 2.04. The firm has a 50 day moving average of $6.93 and a 200 day moving average of $7.25.

American Axle & Manufacturing (NYSE:AXL) last posted its quarterly earnings data on Friday, August 9th. The auto parts company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.11 by $0.08. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.59 billion. American Axle & Manufacturing had a positive return on equity of 1.92% and a negative net margin of 0.13%. American Axle & Manufacturing’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.12 EPS. On average, research analysts anticipate that American Axle & Manufacturing will post 0.35 earnings per share for the current year.

Institutional Investors Weigh In On American Axle & Manufacturing

Hedge funds have recently made changes to their positions in the company. Texas Permanent School Fund Corp grew its holdings in American Axle & Manufacturing by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 102,451 shares of the auto parts company’s stock valued at $754,000 after buying an additional 1,370 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of American Axle & Manufacturing by 7.4% in the first quarter. ProShare Advisors LLC now owns 23,084 shares of the auto parts company’s stock valued at $170,000 after purchasing an additional 1,582 shares in the last quarter. QRG Capital Management Inc. grew its holdings in shares of American Axle & Manufacturing by 13.5% in the second quarter. QRG Capital Management Inc. now owns 14,037 shares of the auto parts company’s stock valued at $98,000 after purchasing an additional 1,665 shares in the last quarter. SummerHaven Investment Management LLC increased its position in American Axle & Manufacturing by 2.5% in the second quarter. SummerHaven Investment Management LLC now owns 84,592 shares of the auto parts company’s stock worth $591,000 after purchasing an additional 2,066 shares during the last quarter. Finally, Xponance Inc. raised its stake in American Axle & Manufacturing by 18.2% during the second quarter. Xponance Inc. now owns 18,225 shares of the auto parts company’s stock valued at $127,000 after purchasing an additional 2,800 shares in the last quarter. 91.41% of the stock is currently owned by hedge funds and other institutional investors.

About American Axle & Manufacturing

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.