American Axle & Manufacturing (NYSE:AXL) Price Target Cut to $7.00 by Analysts at Barclays

American Axle & Manufacturing (NYSE:AXL) had its price objective trimmed by Barclays from $8.00 to $7.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has an equal weight rating on the auto parts company’s stock.

American Axle & Manufacturing Price Performance

Shares of American Axle & Manufacturing stock opened at $5.68 on Wednesday. The business has a 50 day moving average of $6.20 and a 200 day moving average of $6.31. American Axle & Manufacturing has a 52 week low of $5.41 and a 52 week high of $8.98. The company has a market cap of $667.27 million, a PE ratio of 23.65 and a beta of 1.96. The company has a quick ratio of 1.29, a current ratio of 1.65 and a debt-to-equity ratio of 4.28.

American Axle & Manufacturing (NYSE:AXL) last issued its quarterly earnings data on Friday, November 8th. The auto parts company reported $0.20 EPS for the quarter, topping 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 company’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.11) EPS. As a group, equities research analysts forecast that American Axle & Manufacturing will post 0.47 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. KBC Group NV grew its stake in 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 worth $44,000 after purchasing an additional 3,211 shares during the period. Quarry LP grew its position in shares of American Axle & Manufacturing by 159.2% in the 2nd quarter. Quarry LP now owns 7,899 shares of the auto parts company’s stock worth $55,000 after buying an additional 4,851 shares during the period. XTX Topco Ltd purchased a new stake in shares of American Axle & Manufacturing in the 3rd quarter worth about $62,000. Zacks Investment Management bought a new position in shares of American Axle & Manufacturing in the 3rd quarter worth about $70,000. Finally, Creative Planning purchased a new position in American Axle & Manufacturing during the 3rd quarter valued at about $80,000. 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.