American Axle & Manufacturing (NYSE:AXL) Shares Gap Up – Here’s What Happened

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $4.75, but opened at $5.32. American Axle & Manufacturing shares last traded at $5.13, with a volume of 1,799,325 shares trading hands.

Analyst Ratings Changes

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

American Axle & Manufacturing Stock Up 13.4 %

The company has a current ratio of 1.65, a quick ratio of 1.29 and a debt-to-equity ratio of 4.28. The stock has a market cap of $633.17 million, a price-to-earnings ratio of 22.44 and a beta of 1.94. The firm’s 50 day moving average is $5.76 and its two-hundred day moving average is $6.10.

American Axle & Manufacturing (NYSE:AXL) last announced its earnings results on Friday, February 14th. The auto parts company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). American Axle & Manufacturing had a return on equity of 9.63% and a net margin of 0.48%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period in the prior year, the company posted ($0.09) EPS. American Axle & Manufacturing’s quarterly revenue was down 5.6% on a year-over-year basis. On average, sell-side analysts predict that American Axle & Manufacturing Holdings, Inc. will post 0.49 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. KBC Group NV lifted its position in shares of American Axle & Manufacturing by 81.3% in the 3rd quarter. KBC Group NV now owns 7,160 shares of the auto parts company’s stock worth $44,000 after acquiring an additional 3,211 shares during the period. XTX Topco Ltd bought a new position in American Axle & Manufacturing during the third quarter worth about $62,000. Cibc World Markets Corp bought a new stake in shares of American Axle & Manufacturing in the fourth quarter valued at about $63,000. Zacks Investment Management bought a new stake in American Axle & Manufacturing during the third quarter worth about $70,000. Finally, Quarry LP raised its holdings in American Axle & Manufacturing by 51.9% during the third quarter. Quarry LP now owns 11,997 shares of the auto parts company’s stock worth $74,000 after acquiring an additional 4,098 shares in the last quarter. Institutional investors and hedge funds own 91.41% of the company’s stock.

About American Axle & Manufacturing

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.