American Axle & Manufacturing (NYSE:AXL) Stock Price Up 10.3% – Here’s Why

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) rose 10.3% during trading on Tuesday . The stock traded as high as $5.56 and last traded at $5.68. Approximately 652,588 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 2,169,440 shares. The stock had previously closed at $5.15.

Analyst Ratings Changes

AXL has been the subject of several recent research reports. StockNews.com cut American Axle & Manufacturing from a “buy” rating to a “hold” rating in a research note on Monday. UBS Group lowered their price target on American Axle & Manufacturing from $6.50 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday. Royal Bank of Canada reissued a “sector perform” rating and issued a $6.00 price target on shares of American Axle & Manufacturing in a research note on Tuesday. Finally, Barclays decreased their target price on American Axle & Manufacturing from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat, American Axle & Manufacturing presently has a consensus rating of “Hold” and an average price target of $6.75.

American Axle & Manufacturing Stock Up 0.3 %

The stock has a market cap of $689.61 million, a P/E ratio of 20.95 and a beta of 1.94. The company has a quick ratio of 1.25, a current ratio of 1.63 and a debt-to-equity ratio of 4.58. The business has a 50-day simple moving average of $5.66 and a 200-day simple moving average of $6.05.

American Axle & Manufacturing (NYSE:AXL) last posted its quarterly earnings data on Friday, February 14th. The auto parts company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). American Axle & Manufacturing had a return on equity of 10.44% and a net margin of 0.57%. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the prior year, the business earned ($0.09) earnings per share. American Axle & Manufacturing’s revenue for the quarter was down 5.6% compared to the same quarter last year. Analysts expect that American Axle & Manufacturing Holdings, Inc. will post 0.52 EPS for the current year.

Institutional Investors Weigh In On American Axle & Manufacturing

Several hedge funds have recently modified their holdings of the business. Atom Investors LP boosted its position in shares of American Axle & Manufacturing by 1.0% in the third quarter. Atom Investors LP now owns 203,152 shares of the auto parts company’s stock valued at $1,255,000 after acquiring an additional 2,087 shares during the period. Highland Capital Management LLC raised its stake in shares of American Axle & Manufacturing by 10.8% in the third quarter. Highland Capital Management LLC now owns 29,405 shares of the auto parts company’s stock valued at $182,000 after purchasing an additional 2,868 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of American Axle & Manufacturing by 1.1% in the fourth quarter. Franklin Resources Inc. now owns 303,883 shares of the auto parts company’s stock valued at $1,772,000 after purchasing an additional 3,161 shares in the last quarter. KBC Group NV raised 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 purchasing an additional 3,211 shares in the last quarter. Finally, Quadrature Capital Ltd raised its stake in shares of American Axle & Manufacturing by 28.6% in the third quarter. Quadrature Capital Ltd now owns 17,365 shares of the auto parts company’s stock valued at $107,000 after purchasing an additional 3,861 shares in the last quarter. 91.41% of the stock is owned by 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.