American Axle & Manufacturing (NYSE:AXL) Sets New 52-Week Low – Here’s Why

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $4.80 and last traded at $4.95, with a volume of 3888028 shares traded. The stock had previously closed at $5.23.

Analysts Set New Price Targets

Separately, Barclays cut their price objective on American Axle & Manufacturing from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $7.30.

American Axle & Manufacturing Price Performance

The stock’s 50 day simple moving average is $6.08 and its 200-day simple moving average is $6.23. The stock has a market capitalization of $581.43 million, a price-to-earnings ratio of 20.60 and a beta of 1.94. The company has a debt-to-equity ratio of 4.28, a current ratio of 1.65 and a quick ratio of 1.29.

American Axle & Manufacturing (NYSE:AXL) last issued its quarterly earnings data on Friday, November 8th. The auto parts company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.25. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.51 billion. American Axle & Manufacturing had a return on equity of 9.63% and a net margin of 0.48%. The firm’s revenue was down 3.0% compared to the same quarter last year. During the same period last year, the business earned ($0.11) EPS. On average, analysts expect that American Axle & Manufacturing Holdings, Inc. will post 0.49 EPS for the current fiscal year.

Institutional Trading of American Axle & Manufacturing

A number of hedge funds have recently modified their holdings of the company. Thrivent Financial for Lutherans lifted its position in shares of American Axle & Manufacturing by 45.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 385,067 shares of the auto parts company’s stock worth $2,380,000 after buying an additional 119,991 shares during the period. XTX Topco Ltd bought a new position in shares of American Axle & Manufacturing in the 3rd quarter worth $62,000. Barclays PLC increased its stake in American Axle & Manufacturing by 274.4% in the third quarter. Barclays PLC now owns 199,795 shares of the auto parts company’s stock valued at $1,234,000 after purchasing an additional 146,430 shares in the last quarter. FMR LLC lifted its holdings in shares of American Axle & Manufacturing by 25.8% during the 3rd quarter. FMR LLC now owns 511,378 shares of the auto parts company’s stock valued at $3,160,000 after purchasing an additional 104,936 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in American Axle & Manufacturing by 540.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 199,514 shares of the auto parts company’s stock valued at $1,233,000 after acquiring an additional 168,348 shares in the last quarter. Institutional investors own 91.41% of the company’s stock.

American Axle & Manufacturing Company Profile

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.