American Axle & Manufacturing Holdings, Inc. (AXL) Price Target Raised to $13.00 at Bank of America Corporation

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) had its target price hoisted by analysts at Bank of America Corporation from $12.00 to $13.00 in a report released on Monday, November 6th. The firm currently has an “underperform” rating on the auto parts company’s stock. Bank of America Corporation’s target price suggests a potential downside of 26.09% from the company’s previous close.

Several other research firms have also recently issued reports on AXL. Zacks Investment Research upgraded American Axle & Manufacturing from a “sell” rating to a “hold” rating in a report on Friday, August 4th. ValuEngine cut American Axle & Manufacturing from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Off Wall Street began coverage on American Axle & Manufacturing in a report on Thursday, July 13th. They set a “buy” rating on the stock. BidaskClub cut American Axle & Manufacturing from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, KeyCorp restated a “hold” rating on shares of American Axle & Manufacturing in a report on Sunday, September 17th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. American Axle & Manufacturing has an average rating of “Hold” and a consensus target price of $20.56.

American Axle & Manufacturing (NYSE:AXL) traded down $0.29 during trading on Monday, reaching $17.59. The company had a trading volume of 694,616 shares, compared to its average volume of 2,799,889. The company has a market capitalization of $1,989.87, a PE ratio of 4.89, a price-to-earnings-growth ratio of 0.62 and a beta of 1.37. American Axle & Manufacturing has a fifty-two week low of $13.38 and a fifty-two week high of $21.25. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.41 and a current ratio of 1.72.

American Axle & Manufacturing (NYSE:AXL) last posted its quarterly earnings results on Friday, November 3rd. The auto parts company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.21. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.63 billion. American Axle & Manufacturing had a return on equity of 36.26% and a net margin of 5.07%. The firm’s quarterly revenue was up 71.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.78 earnings per share. research analysts predict that American Axle & Manufacturing will post 3.58 earnings per share for the current fiscal year.

In related news, Director George Thanopoulos sold 123,901 shares of American Axle & Manufacturing stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $15.15, for a total value of $1,877,100.15. Following the sale, the director now owns 876,745 shares of the company’s stock, valued at approximately $13,282,686.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder American Securities Llc sold 15,000,000 shares of American Axle & Manufacturing stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $17.37, for a total value of $260,550,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 15,248,901 shares of company stock worth $264,305,850 in the last quarter. 0.96% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio increased its position in shares of American Axle & Manufacturing by 6.2% during the 1st quarter. Public Employees Retirement System of Ohio now owns 6,538 shares of the auto parts company’s stock worth $123,000 after purchasing an additional 380 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in shares of American Axle & Manufacturing by 7.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,128 shares of the auto parts company’s stock worth $111,000 after purchasing an additional 503 shares during the last quarter. Capital One National Association increased its position in shares of American Axle & Manufacturing by 6.1% during the 2nd quarter. Capital One National Association now owns 20,878 shares of the auto parts company’s stock worth $326,000 after purchasing an additional 1,209 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of American Axle & Manufacturing by 2.1% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 67,689 shares of the auto parts company’s stock worth $1,056,000 after purchasing an additional 1,363 shares during the last quarter. Finally, New York State Teachers Retirement System increased its position in shares of American Axle & Manufacturing by 3.2% during the 1st quarter. New York State Teachers Retirement System now owns 54,655 shares of the auto parts company’s stock worth $1,026,000 after purchasing an additional 1,700 shares during the last quarter.

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About American Axle & Manufacturing

American Axle & Manufacturing Holdings, Inc (AAM) manufactures, engineers, designs and validates driveline and drivetrain systems and related components and chassis modules for light trucks, sport utility vehicles, crossover vehicles, passenger cars and commercial vehicles. Its driveline and drivetrain systems include components that transfer power from the transmission and deliver it to the drive wheels.

Analyst Recommendations for American Axle & Manufacturing (NYSE:AXL)

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