American Axle & Manufacturing (NYSE:AXL) Hits New 1-Year Low at $5.99

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) shares hit a new 52-week low during trading on Friday . The stock traded as low as $5.99 and last traded at $5.99, with a volume of 582147 shares trading hands. The stock had previously closed at $6.08.

Analyst Ratings Changes

Several analysts have commented on the company. Bank of America increased their target price on American Axle & Manufacturing from $7.00 to $7.50 and gave the company an “underperform” rating in a research note on Monday, August 12th. Wolfe Research upgraded American Axle & Manufacturing to a “hold” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $7.90.

American Axle & Manufacturing Trading Down 3.0 %

The stock has a market capitalization of $693.56 million, a PE ratio of -84.29 and a beta of 1.95. The company has a current ratio of 1.68, a quick ratio of 1.30 and a debt-to-equity ratio of 4.42. The stock has a 50 day moving average price of $6.68 and a 200-day moving average price of $7.04.

American Axle & Manufacturing (NYSE:AXL) last released its quarterly earnings results on Friday, August 9th. The auto parts company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.08. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.59 billion. American Axle & Manufacturing had a return on equity of 3.47% and a net margin of 0.04%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period last year, the business posted $0.12 EPS. Sell-side analysts expect that American Axle & Manufacturing Holdings, Inc. will post 0.35 earnings per share for the current year.

Hedge Funds Weigh In On American Axle & Manufacturing

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP lifted its position in American Axle & Manufacturing by 553.5% during the first quarter. Quantbot Technologies LP now owns 88,887 shares of the auto parts company’s stock valued at $654,000 after purchasing an additional 75,285 shares in the last quarter. ProShare Advisors LLC lifted its position in American Axle & Manufacturing by 7.4% during the first quarter. ProShare Advisors LLC now owns 23,084 shares of the auto parts company’s stock valued at $170,000 after purchasing an additional 1,582 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in American Axle & Manufacturing by 6.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,076,121 shares of the auto parts company’s stock valued at $27,101,000 after purchasing an additional 187,653 shares in the last quarter. Norges Bank purchased a new position in American Axle & Manufacturing during the fourth quarter valued at $7,024,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in American Axle & Manufacturing by 3.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 94,285 shares of the auto parts company’s stock valued at $757,000 after purchasing an additional 2,801 shares in the last quarter. 91.41% of the stock is currently owned by hedge funds and other institutional investors.

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.