American Axle & Manufacturing (NYSE:AXL) Price Target Cut to $3.50 by Analysts at UBS Group

American Axle & Manufacturing (NYSE:AXL) had its price target decreased by UBS Group from $6.00 to $3.50 in a research note issued to investors on Thursday,Benzinga reports. UBS Group currently has a neutral rating on the auto parts company’s stock.

Several other research firms also recently commented on AXL. Royal Bank of Canada restated a “sector perform” rating and issued a $6.00 price target on shares of American Axle & Manufacturing in a research note on Tuesday, February 18th. Barclays decreased their target price on shares of American Axle & Manufacturing from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. Cowen began coverage on shares of American Axle & Manufacturing in a research report on Thursday, March 6th. They issued a “hold” rating for the company. StockNews.com cut American Axle & Manufacturing from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Finally, Morgan Stanley lowered their price objective on American Axle & Manufacturing from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $6.38.

American Axle & Manufacturing Stock Down 9.1 %

Shares of AXL opened at $3.15 on Thursday. The firm has a market cap of $372.16 million, a P/E ratio of 11.23 and a beta of 1.70. The company has a debt-to-equity ratio of 4.58, a quick ratio of 1.25 and a current ratio of 1.63. American Axle & Manufacturing has a 52 week low of $3.01 and a 52 week high of $7.98. The firm’s 50-day simple moving average is $4.56 and its 200 day simple moving average is $5.57.

American Axle & Manufacturing (NYSE:AXL) last posted its earnings results on Friday, February 14th. The auto parts company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.39 billion. American Axle & Manufacturing had a return on equity of 10.44% and a net margin of 0.57%. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.09) earnings per share. On average, analysts forecast that American Axle & Manufacturing will post 0.57 earnings per share for the current year.

Institutional Investors Weigh In On American Axle & Manufacturing

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in American Axle & Manufacturing by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 15,713,232 shares of the auto parts company’s stock worth $91,608,000 after acquiring an additional 462,847 shares during the last quarter. State Street Corp boosted its holdings in American Axle & Manufacturing by 0.5% during the third quarter. State Street Corp now owns 4,704,889 shares of the auto parts company’s stock worth $29,076,000 after purchasing an additional 23,538 shares during the last quarter. American Century Companies Inc. grew its position in American Axle & Manufacturing by 12.4% in the 4th quarter. American Century Companies Inc. now owns 3,856,509 shares of the auto parts company’s stock worth $22,483,000 after purchasing an additional 426,933 shares in the last quarter. Geode Capital Management LLC increased its stake in American Axle & Manufacturing by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,654,883 shares of the auto parts company’s stock valued at $16,411,000 after buying an additional 21,054 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of American Axle & Manufacturing by 3.2% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,346,254 shares of the auto parts company’s stock worth $13,679,000 after buying an additional 72,337 shares in the last quarter. Institutional investors 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.