Zacks Investment Research upgraded shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) from a sell rating to a hold rating in a research note issued to investors on Friday morning.

According to Zacks, “American Axle’s earnings and revenues beat the Zacks Consensus Estimate in the second quarter. Compared with the year-ago figures, both earnings per share and revenues were higher. The recent acquisition of Metaldyne Performance Group will help the company widen its operating scale, customer base as well as end markets, thus enabling it to generate record sales. The company’s strong cash flow will help it boost the shareholders’ value. It also expects to achieve record sales and profits in 2017. However, the pressure from Original Equipment Manufacturers to lower product pricing will hamper its financial condition. Other concerns faced by American Axle are rising capital expenditure and dependence on sectors, having maximum production cuts, which might hit the company’s production. Also in the last six months, its shares have underperformed the industry it belongs to.”

Other equities research analysts have also issued research reports about the company. CLSA started coverage on American Axle & Manufacturing Holdings in a research report on Thursday, June 22nd. They issued a buy rating and a $18.00 price target on the stock. Deutsche Bank AG reiterated a buy rating and issued a $22.00 price target (down previously from $24.00) on shares of American Axle & Manufacturing Holdings in a research report on Thursday, June 22nd. Guggenheim started coverage on American Axle & Manufacturing Holdings in a research report on Wednesday, June 21st. They issued a buy rating and a $18.00 price target on the stock. ValuEngine lowered American Axle & Manufacturing Holdings from a strong-buy rating to a buy rating in a research report on Friday, June 2nd. Finally, Off Wall Street started coverage on American Axle & Manufacturing Holdings in a research report on Thursday, July 13th. They issued a buy rating on the stock. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $19.90.

American Axle & Manufacturing Holdings (AXL) traded down 0.175% during trading on Friday, reaching $14.265. The company’s stock had a trading volume of 329,368 shares. The firm has a 50 day moving average price of $15.56 and a 200-day moving average price of $17.64. American Axle & Manufacturing Holdings has a 52-week low of $12.61 and a 52-week high of $21.25. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 4.914 and a beta of 1.34.

American Axle & Manufacturing Holdings (NYSE:AXL) last released its quarterly earnings results on Friday, July 28th. The auto parts company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.10. American Axle & Manufacturing Holdings had a return on equity of 42.42% and a net margin of 5.32%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the previous year, the company posted $0.90 EPS. The business’s revenue was up 71.4% on a year-over-year basis. On average, analysts expect that American Axle & Manufacturing Holdings will post $3.30 earnings per share for the current year.

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Several large investors have recently made changes to their positions in AXL. BlackRock Inc. raised its stake in shares of American Axle & Manufacturing Holdings by 108,522.5% in the first quarter. BlackRock Inc. now owns 9,678,267 shares of the auto parts company’s stock valued at $181,758,000 after buying an additional 9,669,357 shares during the last quarter. Thrivent Financial For Lutherans raised its stake in shares of American Axle & Manufacturing Holdings by 383.0% in the first quarter. Thrivent Financial For Lutherans now owns 3,132,490 shares of the auto parts company’s stock valued at $58,828,000 after buying an additional 2,483,880 shares during the last quarter. DnB Asset Management AS raised its stake in shares of American Axle & Manufacturing Holdings by 125.7% in the second quarter. DnB Asset Management AS now owns 2,824,446 shares of the auto parts company’s stock valued at $44,061,000 after buying an additional 1,572,958 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of American Axle & Manufacturing Holdings by 10.9% in the first quarter. Vanguard Group Inc. now owns 10,690,855 shares of the auto parts company’s stock valued at $200,775,000 after buying an additional 1,047,734 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its stake in shares of American Axle & Manufacturing Holdings by 249.2% in the first quarter. Point72 Asset Management L.P. now owns 1,029,765 shares of the auto parts company’s stock valued at $19,339,000 after buying an additional 734,865 shares during the last quarter.

About American Axle & Manufacturing Holdings

American Axle & Manufacturing Holdings, Inc (AAM) manufactures, engineers, designs and validates driveline and drivetrain systems and related components and chassis modules for light trucks, sport utility vehicles, crossover vehicles, passenger cars and commercial vehicles. Its driveline and drivetrain systems include components that transfer power from the transmission and deliver it to the drive wheels.

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Analyst Recommendations for American Axle & Manufacturing Holdings (NYSE:AXL)

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