American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Coverage Initiated by Analysts at Off Wall Street

Investment analysts at Off Wall Street began coverage on shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) in a report issued on Thursday, July 13th. The brokerage set a “buy” rating on the auto parts company’s stock.

Several other analysts have also issued reports on AXL. Zacks Investment Research lowered American Axle & Manufacturing Holdings from a “hold” rating to a “strong sell” rating in a report on Monday, July 10th. Bank of America Corporation reissued an “underperform” rating and set a $11.00 price target (down previously from $16.00) on shares of American Axle & Manufacturing Holdings in a report on Friday, June 16th. Deutsche Bank AG reissued a “buy” rating and set a $22.00 price target (down previously from $24.00) on shares of American Axle & Manufacturing Holdings in a report on Thursday, June 22nd. J P Morgan Chase & Co reaffirmed an “overweight” rating on shares of American Axle & Manufacturing Holdings in a research note on Monday, May 15th. Finally, Guggenheim began coverage on American Axle & Manufacturing Holdings in a research note on Wednesday, June 21st. They issued a “buy” rating and a $18.00 price objective for the company. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $19.90.

Shares of American Axle & Manufacturing Holdings (NYSE AXL) opened at 14.69 on Thursday. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 5.06 and a beta of 1.34. American Axle & Manufacturing Holdings has a one year low of $12.61 and a one year high of $21.25. The firm’s 50-day moving average is $15.41 and its 200-day moving average is $17.57.

American Axle & Manufacturing Holdings (NYSE:AXL) last posted its quarterly earnings results on Friday, July 28th. The auto parts company reported $0.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.10. American Axle & Manufacturing Holdings had a return on equity of 42.42% and a net margin of 5.32%. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the previous year, the business earned $0.90 earnings per share. The company’s revenue was up 71.4% on a year-over-year basis. Analysts expect that American Axle & Manufacturing Holdings will post $3.30 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of American Axle & Manufacturing Holdings by 108,522.5% in the first quarter. BlackRock Inc. now owns 9,678,267 shares of the auto parts company’s stock valued at $181,758,000 after buying an additional 9,669,357 shares during the period. Thrivent Financial For Lutherans boosted its position in shares of American Axle & Manufacturing Holdings by 383.0% in the first quarter. Thrivent Financial For Lutherans now owns 3,132,490 shares of the auto parts company’s stock valued at $58,828,000 after buying an additional 2,483,880 shares during the period. DnB Asset Management AS boosted its position in shares of American Axle & Manufacturing Holdings by 125.7% in the second quarter. DnB Asset Management AS now owns 2,824,446 shares of the auto parts company’s stock valued at $44,061,000 after buying an additional 1,572,958 shares during the period. Norges Bank purchased a new position in shares of American Axle & Manufacturing Holdings during the fourth quarter valued at about $26,961,000. Finally, Vanguard Group Inc. boosted its position in shares of American Axle & Manufacturing Holdings by 10.9% in the first quarter. Vanguard Group Inc. now owns 10,690,855 shares of the auto parts company’s stock valued at $200,775,000 after buying an additional 1,047,734 shares during the period.

About American Axle & Manufacturing Holdings

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 Holdings (NYSE:AXL)

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