American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Receives Average Recommendation of “Reduce” from Brokerages

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) has earned a consensus rating of “Reduce” from the six ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $7.30.

Separately, Barclays decreased their target price on American Axle & Manufacturing from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Wednesday.

American Axle & Manufacturing Trading Down 3.0 %

NYSE:AXL traded down $0.18 during trading hours on Wednesday, hitting $5.74. The stock had a trading volume of 493,189 shares, compared to its average volume of 1,476,910. The business’s 50 day moving average is $6.20 and its 200-day moving average is $6.31. The company has a debt-to-equity ratio of 4.28, a quick ratio of 1.29 and a current ratio of 1.65. The company has a market cap of $674.32 million, a price-to-earnings ratio of 23.85 and a beta of 1.96. American Axle & Manufacturing has a one year low of $5.41 and a one year high of $8.98.

American Axle & Manufacturing (NYSE:AXL) last released its earnings results 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. American Axle & Manufacturing had a net margin of 0.48% and a return on equity of 9.63%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter last year, the firm earned ($0.11) earnings per share. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. Sell-side analysts anticipate that American Axle & Manufacturing will post 0.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

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