Shares of American Axle & Manufacturing Holdings Inc. (NYSE:AXL) shot up 3% during trading on Wednesday . The company traded as high as $16.44 and last traded at $16.26, with a volume of 710,232 shares. The stock had previously closed at $15.79.

A number of research firms have recently commented on AXL. Buckingham Research restated a “buy” rating on shares of American Axle & Manufacturing Holdings in a report on Thursday, May 5th. Zacks Investment Research downgraded American Axle & Manufacturing Holdings from a “buy” rating to a “hold” rating in a report on Friday, July 8th. Royal Bank Of Canada upgraded American Axle & Manufacturing Holdings from a “sector perform” rating to an “outperform” rating and dropped their price objective for the stock from $17.00 to $16.00 in a report on Wednesday, June 29th. They noted that the move was a valuation call. Finally, Bank of America Corp. downgraded American Axle & Manufacturing Holdings from a “buy” rating to a “neutral” rating in a report on Tuesday, June 21st. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. American Axle & Manufacturing Holdings has a consensus rating of “Hold” and an average price target of $20.00.

The firm’s 50-day moving average price is $15.69 and its 200-day moving average price is $15.07. The stock has a market capitalization of $1.30 billion and a P/E ratio of 5.43.

American Axle & Manufacturing Holdings (NYSE:AXL) last posted its quarterly earnings data on Friday, May 6th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.07. During the same period in the prior year, the business posted $0.68 EPS. The firm earned $969.20 million during the quarter, compared to analyst estimates of $1 billion. The company’s revenue for the quarter was up .0% on a year-over-year basis. Equities analysts predict that American Axle & Manufacturing Holdings Inc. will post $3.06 earnings per share for the current year.

In other American Axle & Manufacturing Holdings news, VP Michael Joseph Lynch sold 5,531 shares of American Axle & Manufacturing Holdings stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $15.00, for a total transaction of $82,965.00. Following the completion of the sale, the vice president now owns 18,561 shares of the company’s stock, valued at approximately $278,415. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP David A. Culton sold 6,776 shares of American Axle & Manufacturing Holdings stock in a transaction on Wednesday, May 18th. The shares were sold at an average price of $15.55, for a total transaction of $105,366.80. Following the sale, the vice president now directly owns 21,055 shares of the company’s stock, valued at approximately $327,405.25. The disclosure for this sale can be found here.

Several large investors recently modified their holdings of the stock. State of New Jersey Common Pension Fund D raised its stake in shares of American Axle & Manufacturing Holdings by 4.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 1,150,000 shares of the company’s stock worth $21,781,000 after buying an additional 50,000 shares during the period. Wells Fargo & Company MN raised its stake in shares of American Axle & Manufacturing Holdings by 0.9% in the fourth quarter. Wells Fargo & Company MN now owns 953,700 shares of the company’s stock worth $18,063,000 after buying an additional 8,836 shares during the period. Principal Financial Group Inc. raised its stake in shares of American Axle & Manufacturing Holdings by 1.3% in the fourth quarter. Principal Financial Group Inc. now owns 581,502 shares of the company’s stock worth $11,014,000 after buying an additional 7,455 shares during the period. Morgan Stanley raised its stake in shares of American Axle & Manufacturing Holdings by 14.3% in the fourth quarter. Morgan Stanley now owns 547,996 shares of the company’s stock worth $10,378,000 after buying an additional 68,570 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of American Axle & Manufacturing Holdings during the fourth quarter worth about $9,692,000.

American Axle & Manufacturing Holdings, Inc manufactures, engineers, designs and validates driveline and drivetrain systems, and related components, and chassis modules for light trucks, sport utility vehicles (SUVs), passenger cars, crossover vehicles and commercial vehicles. The Company supplies its products to automotive industry.

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