Citigroup Raises American Axle & Manufacturing (NYSE:AXL) Price Target to $8.00

American Axle & Manufacturing (NYSE:AXL) had its price objective hoisted by Citigroup from $7.50 to $8.00 in a research report released on Monday morning, Benzinga reports. Citigroup currently has a neutral rating on the auto parts company’s stock.

AXL has been the subject of a number of other research reports. StockNews.com upgraded shares of American Axle & Manufacturing from a hold rating to a buy rating in a research report on Monday, April 8th. UBS Group boosted their target price on American Axle & Manufacturing from $7.00 to $8.00 and gave the stock a neutral rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $8.00.

American Axle & Manufacturing Price Performance

NYSE AXL opened at $7.71 on Monday. The company has a current ratio of 1.69, a quick ratio of 1.31 and a debt-to-equity ratio of 4.40. The company has a 50-day moving average price of $7.15 and a two-hundred day moving average price of $7.50. The stock has a market cap of $906.33 million, a price-to-earnings ratio of -110.14, a price-to-earnings-growth ratio of 2.69 and a beta of 2.19. American Axle & Manufacturing has a 52 week low of $6.29 and a 52 week high of $9.55.

American Axle & Manufacturing (NYSE:AXL) last posted its earnings results on Friday, May 3rd. The auto parts company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.02 by $0.16. American Axle & Manufacturing had a positive return on equity of 1.92% and a negative net margin of 0.13%. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same period last year, the firm earned ($0.01) EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. Analysts forecast that American Axle & Manufacturing will post 0.35 EPS for the current year.

Institutional Trading of American Axle & Manufacturing

A number of large investors have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC acquired a new stake in shares of American Axle & Manufacturing during the 4th quarter valued at $14,167,000. Barclays PLC boosted its position in shares of American Axle & Manufacturing by 522.6% in the 3rd quarter. Barclays PLC now owns 1,122,458 shares of the auto parts company’s stock valued at $8,149,000 after purchasing an additional 942,186 shares during the period. Norges Bank purchased a new position in American Axle & Manufacturing in the 4th quarter worth about $7,024,000. Assenagon Asset Management S.A. acquired a new stake in American Axle & Manufacturing during the 3rd quarter worth about $5,095,000. Finally, Deutsche Bank AG lifted its stake in American Axle & Manufacturing by 554.4% during the third quarter. Deutsche Bank AG now owns 741,034 shares of the auto parts company’s stock valued at $5,380,000 after buying an additional 627,791 shares in the last quarter. 91.41% of the stock is currently owned by institutional investors.

About American Axle & Manufacturing

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.