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

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) shares traded down 4% during mid-day trading on Monday . The company traded as low as $6.24 and last traded at $6.25. 219,122 shares changed hands during 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

A number of research firms have commented on AXL. Bank of America lifted 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 note on Monday. UBS Group upped their price objective on American Axle & Manufacturing from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday, May 6th. Finally, Citigroup lifted their target price 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. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $7.90.

American Axle & Manufacturing Stock Down 6.8 %

The stock has a fifty day moving average price of $7.05 and a two-hundred day moving average price of $7.29. The firm has a market capitalization of $713.55 million, a P/E ratio of -86.57 and a beta of 2.04. The company has a debt-to-equity ratio of 4.40, a quick ratio of 1.31 and a current ratio of 1.69.

American Axle & Manufacturing (NYSE:AXL) last released its quarterly earnings data on Friday, August 9th. The auto parts company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.09. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.59 billion. American Axle & Manufacturing had a positive return on equity of 1.92% and a negative net margin of 0.13%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.12 EPS. Research analysts forecast that American Axle & Manufacturing Holdings, Inc. will post 0.35 EPS for the current year.

Institutional Trading of American Axle & Manufacturing

A number of large investors have recently added to or reduced their stakes in AXL. nVerses Capital LLC purchased a new position in shares of American Axle & Manufacturing during the second quarter valued at $41,000. Headlands Technologies LLC purchased a new position in American Axle & Manufacturing during the 2nd quarter valued at about $75,000. GAMMA Investing LLC acquired a new position in shares of American Axle & Manufacturing in the 4th quarter valued at about $76,000. EntryPoint Capital LLC acquired a new position in shares of American Axle & Manufacturing in the 1st quarter valued at about $76,000. Finally, QRG Capital Management Inc. lifted its position in shares of American Axle & Manufacturing by 13.5% in the second quarter. QRG Capital Management Inc. now owns 14,037 shares of the auto parts company’s stock worth $98,000 after purchasing an additional 1,665 shares in the last quarter. 91.41% of the stock is currently owned by 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.