American Axle & Manufacturing (NYSE:AXL) Upgraded by Wolfe Research to Hold

Wolfe Research upgraded shares of American Axle & Manufacturing (NYSE:AXL) to a hold rating in a research note released on Wednesday, Zacks.com reports.

Separately, Bank of America upped 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $7.90.

American Axle & Manufacturing Stock Down 1.1 %

Shares of NYSE AXL opened at $6.08 on Wednesday. The firm’s 50-day moving average price is $6.70 and its 200-day moving average price is $7.06. The company has a current ratio of 1.68, a quick ratio of 1.30 and a debt-to-equity ratio of 4.42. American Axle & Manufacturing has a 12-month low of $5.99 and a 12-month high of $8.99. The stock has a market capitalization of $714.72 million, a price-to-earnings ratio of -86.86 and a beta of 2.04.

American Axle & Manufacturing (NYSE:AXL) last issued 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 company had revenue of $1.63 billion during 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%. American Axle & Manufacturing’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the company earned $0.12 earnings per share. On average, equities research analysts anticipate that American Axle & Manufacturing will post 0.35 EPS for the current fiscal year.

Institutional Trading of American Axle & Manufacturing

Hedge funds have recently added to or reduced their stakes in the business. Dana Investment Advisors Inc. grew its stake in shares of American Axle & Manufacturing by 8.5% during the second quarter. Dana Investment Advisors Inc. now owns 940,409 shares of the auto parts company’s stock worth $6,573,000 after acquiring an additional 73,529 shares during the last quarter. Quarry LP increased its stake in American Axle & Manufacturing by 159.2% during the 2nd quarter. Quarry LP now owns 7,899 shares of the auto parts company’s stock valued at $55,000 after purchasing an additional 4,851 shares in the last quarter. Algert Global LLC increased its stake in American Axle & Manufacturing by 263.9% during the 2nd quarter. Algert Global LLC now owns 698,364 shares of the auto parts company’s stock valued at $4,882,000 after purchasing an additional 506,476 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of American Axle & Manufacturing in the second quarter worth $998,000. Finally, Mackenzie Financial Corp acquired a new stake in shares of American Axle & Manufacturing during the second quarter worth $170,000. 91.41% of the stock is 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.