American Axle & Manufacturing (NYSE:AXL) Given New $8.00 Price Target at Morgan Stanley

American Axle & Manufacturing (NYSE:AXL) had its price target reduced by Morgan Stanley from $10.00 to $8.00 in a report published on Monday,Benzinga reports. They currently have an overweight rating on the auto parts company’s stock.

Other equities research analysts also recently issued reports about the company. StockNews.com downgraded American Axle & Manufacturing from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Barclays decreased their price target on American Axle & Manufacturing from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. 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. Finally, UBS Group decreased their price target on American Axle & Manufacturing from $6.50 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, seven have given 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 a consensus price target of $6.93.

American Axle & Manufacturing Trading Up 2.7 %

American Axle & Manufacturing stock opened at $4.68 on Monday. The company has a current ratio of 1.63, a quick ratio of 1.25 and a debt-to-equity ratio of 4.58. The business’s fifty day simple moving average is $5.46 and its two-hundred day simple moving average is $5.97. American Axle & Manufacturing has a 12 month low of $4.45 and a 12 month high of $7.98. The company has a market capitalization of $549.69 million, a price-to-earnings ratio of 16.70 and a beta of 1.94.

American Axle & Manufacturing (NYSE:AXL) last released its earnings results on Friday, February 14th. The auto parts company reported ($0.06) EPS for the quarter, hitting the consensus estimate of ($0.06). American Axle & Manufacturing had a return on equity of 10.44% and a net margin of 0.57%. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the previous year, the company posted ($0.09) earnings per share. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, equities analysts predict that American Axle & Manufacturing will post 0.57 earnings per share for the current fiscal year.

Institutional Trading of American Axle & Manufacturing

A number of hedge funds have recently bought and sold shares of AXL. Creative Planning purchased a new stake in American Axle & Manufacturing during the third quarter valued at $80,000. Entropy Technologies LP purchased a new stake in American Axle & Manufacturing during the third quarter valued at $95,000. Aigen Investment Management LP purchased a new stake in American Axle & Manufacturing during the third quarter valued at $121,000. MQS Management LLC purchased a new stake in American Axle & Manufacturing during the third quarter valued at $207,000. Finally, KBC Group NV increased its position in American Axle & Manufacturing by 81.3% during the third quarter. KBC Group NV now owns 7,160 shares of the auto parts company’s stock valued at $44,000 after acquiring an additional 3,211 shares during the last quarter. Hedge funds and other institutional investors 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.