American Axle & Manufacturing (NYSE:AXL) Shares Down 4%

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) fell 4% during mid-day trading on Monday . The stock traded as low as $6.24 and last traded at $6.25. 219,122 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 1,566,470 shares. The stock had previously closed at $6.51.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AXL shares. Citigroup lifted their price objective on American Axle & Manufacturing from $7.50 to $8.00 and gave the company a “neutral” rating in a research note on Monday, May 6th. Bank of America increased their price objective on shares of American Axle & Manufacturing from $7.00 to $7.50 and gave the company an “underperform” rating in a research report on Monday. Finally, UBS Group lifted their price objective on shares of American Axle & Manufacturing from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $7.90.

American Axle & Manufacturing Trading Up 1.7 %

The company has a market cap of $724.71 million, a price-to-earnings ratio of -88.07 and a beta of 2.04. The company has a quick ratio of 1.31, a current ratio of 1.69 and a debt-to-equity ratio of 4.40. The business’s fifty day simple moving average is $6.99 and its two-hundred day simple moving average is $7.26.

American Axle & Manufacturing (NYSE:AXL) last announced its quarterly earnings results on Friday, August 9th. The auto parts company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.11 by $0.08. American Axle & Manufacturing had a negative net margin of 0.13% and a positive return on equity of 1.92%. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the business earned $0.12 EPS. American Axle & Manufacturing’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, equities analysts predict that American Axle & Manufacturing Holdings, Inc. will post 0.35 EPS for the current year.

Hedge Funds Weigh In On American Axle & Manufacturing

A number of hedge funds and other institutional investors have recently bought and sold shares of AXL. Sona Asset Management US LLC purchased a new stake in shares of American Axle & Manufacturing during the 1st quarter worth $7,102,000. Norges Bank purchased a new position in American Axle & Manufacturing in the fourth quarter valued at about $7,024,000. Whitebox Advisors LLC lifted its position in shares of American Axle & Manufacturing by 74.7% during the 1st quarter. Whitebox Advisors LLC now owns 1,095,642 shares of the auto parts company’s stock valued at $8,064,000 after acquiring an additional 468,573 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of American Axle & Manufacturing by 6.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,669,092 shares of the auto parts company’s stock worth $67,565,000 after acquiring an additional 465,585 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of American Axle & Manufacturing by 16.1% in the 2nd quarter. American Century Companies Inc. now owns 2,889,357 shares of the auto parts company’s stock worth $20,197,000 after acquiring an additional 399,616 shares during the period. 91.41% of the stock is currently owned by hedge funds and other institutional investors.

About American Axle & Manufacturing

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.