American Axle & Manufacturing (NYSE:AXL) Stock Price Up 7%

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)’s share price rose 7% during mid-day trading on Friday . The company traded as high as $6.62 and last traded at $6.61. 1,021,071 shares traded hands during trading, a decline of 35% from the average session volume of 1,565,252 shares. The stock had previously closed at $6.18.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wolfe Research raised shares of American Axle & Manufacturing to a “hold” rating in a research report on Wednesday, September 4th. Bank of America raised their price objective on shares of American Axle & Manufacturing from $7.00 to $7.50 and gave the stock an “underperform” rating in a report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $6.00 target price on shares of American Axle & Manufacturing in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, American Axle & Manufacturing presently has an average rating of “Hold” and a consensus price target of $7.10.

American Axle & Manufacturing Price Performance

The firm has a market cap of $749.99 million, a P/E ratio of -91.14 and a beta of 1.95. The company has a debt-to-equity ratio of 4.42, a current ratio of 1.68 and a quick ratio of 1.30. The firm’s 50 day moving average is $6.38 and its 200 day moving average is $6.95.

American Axle & Manufacturing (NYSE:AXL) last posted its quarterly earnings results on Friday, August 9th. The auto parts company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.08. American Axle & Manufacturing had a return on equity of 3.47% and a net margin of 0.04%. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the business posted $0.12 EPS. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, analysts anticipate that American Axle & Manufacturing Holdings, Inc. will post 0.34 earnings per share for the current year.

Hedge Funds Weigh In On American Axle & Manufacturing

Several large investors have recently modified their holdings of the stock. nVerses Capital LLC purchased a new stake in American Axle & Manufacturing during the 2nd quarter valued at about $41,000. Quarry LP increased its position in shares of American Axle & Manufacturing by 159.2% during the second quarter. Quarry LP now owns 7,899 shares of the auto parts company’s stock valued at $55,000 after acquiring an additional 4,851 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of American Axle & Manufacturing during the second quarter valued at approximately $75,000. EntryPoint Capital LLC purchased a new position in American Axle & Manufacturing in the 1st quarter worth approximately $76,000. Finally, QRG Capital Management Inc. lifted its position in American Axle & Manufacturing by 13.5% in the 2nd quarter. QRG Capital Management Inc. now owns 14,037 shares of the auto parts company’s stock valued at $98,000 after acquiring an additional 1,665 shares in the last quarter. Hedge funds and other institutional investors own 91.41% of the company’s stock.

American Axle & Manufacturing Company Profile

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.