Barclays Lowers American Axle & Manufacturing (NYSE:AXL) Price Target to $7.00

American Axle & Manufacturing (NYSE:AXL) had its price objective cut by equities researchers at Barclays from $8.00 to $7.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the auto parts company’s stock. Barclays‘s price target would suggest a potential upside of 20.98% from the stock’s previous close.

American Axle & Manufacturing Stock Performance

NYSE AXL traded down $0.12 on Wednesday, hitting $5.79. The stock had a trading volume of 182,812 shares, compared to its average volume of 1,455,109. American Axle & Manufacturing has a one year low of $5.41 and a one year high of $8.98. The company has a quick ratio of 1.29, a current ratio of 1.65 and a debt-to-equity ratio of 4.28. The stock has a market cap of $680.32 million, a price-to-earnings ratio of 24.11 and a beta of 1.96. The company’s 50-day moving average is $6.20 and its two-hundred day moving average is $6.31.

American Axle & Manufacturing (NYSE:AXL) last released its earnings results on Friday, November 8th. The auto parts company reported $0.20 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.25. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.51 billion. American Axle & Manufacturing had a net margin of 0.48% and a return on equity of 9.63%. The business’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.11) earnings per share. On average, analysts expect that American Axle & Manufacturing will post 0.47 earnings per share for the current year.

Hedge Funds Weigh In On American Axle & Manufacturing

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its holdings in American Axle & Manufacturing by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 8,268,651 shares of the auto parts company’s stock valued at $57,797,000 after purchasing an additional 236,423 shares during the period. Hsbc Holdings PLC grew its holdings in American Axle & Manufacturing by 28.2% during the second quarter. Hsbc Holdings PLC now owns 30,522 shares of the auto parts company’s stock valued at $212,000 after purchasing an additional 6,716 shares during the period. Intech Investment Management LLC acquired a new position in American Axle & Manufacturing during the second quarter valued at approximately $108,000. Sei Investments Co. grew its holdings in American Axle & Manufacturing by 426.6% during the second quarter. Sei Investments Co. now owns 66,834 shares of the auto parts company’s stock valued at $467,000 after purchasing an additional 54,143 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in American Axle & Manufacturing by 136.5% during the second quarter. Thrivent Financial for Lutherans now owns 265,076 shares of the auto parts company’s stock valued at $1,853,000 after purchasing an additional 152,987 shares during the period. 91.41% of the stock is owned by institutional investors.

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.