American Axle & Manufacturing (NYSE:AXL) Shares Gap Down – What’s Next?

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $4.79, but opened at $4.67. American Axle & Manufacturing shares last traded at $4.71, with a volume of 68,246 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AXL. TD Cowen began coverage on shares of American Axle & Manufacturing in a research note on Friday. They set a “hold” rating and a $5.00 price objective on the stock. Barclays decreased their price objective on American Axle & Manufacturing from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $6.00 target price on shares of American Axle & Manufacturing in a research note on Tuesday, February 18th. Morgan Stanley reduced their target price on American Axle & Manufacturing from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, StockNews.com cut American Axle & Manufacturing from a “buy” rating to a “hold” rating in a report on Monday, February 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $6.69.

American Axle & Manufacturing Stock Down 4.3 %

The stock has a fifty day moving average price of $5.44 and a 200-day moving average price of $5.96. The firm has a market cap of $539.11 million, a PE ratio of 16.41 and a beta of 1.94. 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 (NYSE:AXL) last released its quarterly earnings data on Friday, February 14th. The auto parts company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.39 billion. American Axle & Manufacturing had a net margin of 0.57% and a return on equity of 10.44%. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.09) earnings per share. Research analysts expect that American Axle & Manufacturing Holdings, Inc. will post 0.57 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. KBC Group NV grew its stake in shares of American Axle & Manufacturing by 81.3% in the third quarter. KBC Group NV now owns 7,160 shares of the auto parts company’s stock valued at $44,000 after buying an additional 3,211 shares in the last quarter. Lazard Asset Management LLC purchased a new position in American Axle & Manufacturing in the 4th quarter worth approximately $51,000. Ethic Inc. acquired a new stake in American Axle & Manufacturing in the fourth quarter valued at approximately $59,000. Ground Swell Capital LLC purchased a new stake in shares of American Axle & Manufacturing during the fourth quarter valued at approximately $61,000. Finally, XTX Topco Ltd acquired a new position in shares of American Axle & Manufacturing during the third quarter worth $62,000. 91.41% of the stock is owned by hedge funds and other institutional investors.

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.