American Axle & Manufacturing (NYSE:AXL) PT Raised to $8.00 at Citigroup

American Axle & Manufacturing (NYSE:AXL) had its price objective raised by analysts at Citigroup from $7.50 to $8.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the auto parts company’s stock. Citigroup’s target price suggests a potential upside of 4.30% from the stock’s previous close.

A number of other research analysts also recently weighed in on AXL. UBS Group increased their target price on American Axle & Manufacturing from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Monday. StockNews.com raised shares of American Axle & Manufacturing from a “hold” rating to a “buy” rating in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $8.00.

American Axle & Manufacturing Stock Up 2.4 %

AXL stock traded up $0.18 during trading on Monday, hitting $7.67. 793,044 shares of the stock traded hands, compared to its average volume of 1,761,445. The company has a debt-to-equity ratio of 4.40, a current ratio of 1.69 and a quick ratio of 1.31. The stock has a market cap of $901.53 million, a price-to-earnings ratio of -109.56, a price-to-earnings-growth ratio of 2.69 and a beta of 2.19. American Axle & Manufacturing has a 1 year low of $6.29 and a 1 year high of $9.55. The firm’s 50 day moving average is $7.08 and its two-hundred day moving average is $7.49.

American Axle & Manufacturing (NYSE:AXL) last announced its quarterly earnings results on Friday, May 3rd. The auto parts company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.16. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.52 billion. American Axle & Manufacturing had a negative net margin of 0.13% and a positive return on equity of 1.92%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.01) earnings per share. On average, sell-side analysts anticipate that American Axle & Manufacturing will post 0.35 EPS for the current year.

Institutional Trading of American Axle & Manufacturing

A number of large investors have recently made changes to their positions in the business. Boston Partners purchased a new position in American Axle & Manufacturing in the third quarter worth about $2,833,000. Mutual Advisors LLC bought a new stake in shares of American Axle & Manufacturing in the 4th quarter valued at approximately $1,451,000. Barclays PLC boosted its holdings in shares of American Axle & Manufacturing by 522.6% in the 3rd quarter. Barclays PLC now owns 1,122,458 shares of the auto parts company’s stock worth $8,149,000 after purchasing an additional 942,186 shares during the period. Vanguard Group Inc. increased its position in shares of American Axle & Manufacturing by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 13,954,294 shares of the auto parts company’s stock valued at $101,308,000 after purchasing an additional 144,529 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in American Axle & Manufacturing by 25.8% during the 3rd quarter. AQR Capital Management LLC now owns 949,974 shares of the auto parts company’s stock valued at $6,897,000 after buying an additional 194,863 shares during the period. 91.41% of the stock is currently owned by institutional investors.

American Axle & Manufacturing Company Profile

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.