American Axle & Manufacturing (NYSE:DCH) Stock Rating Cut to Underperform at Bank of America

American Axle & Manufacturing (NYSE:DCH) was downgraded by analysts at Bank of America from a “buy” rating to an “underperform” rating in a report issued on Thursday, Marketbeat reports. They currently have a $5.00 price objective on the stock. Bank of America‘s target price indicates a potential downside of 3.83% from the company’s current price.

Other research analysts have also issued reports about the stock. Stifel Nicolaus upped their target price on shares of American Axle & Manufacturing from $6.00 to $7.00 and gave the stock a “hold” rating in a research report on Monday, August 10th. Royal Bank Of Canada lifted their price target on shares of American Axle & Manufacturing from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Jefferies Financial Group lowered American Axle & Manufacturing from a “buy” rating to a “hold” rating and decreased their price target for the stock from $8.25 to $7.10 in a research note on Wednesday, September 23rd. JPMorgan Chase & Co. assumed coverage on American Axle & Manufacturing in a report on Tuesday, July 7th. They issued a “neutral” rating and a $8.00 price target on the stock. Finally, TD Cowen upgraded American Axle & Manufacturing from a “hold” rating to a “buy” rating and upped their price target for the stock from $8.00 to $10.00 in a report on Tuesday, September 8th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $9.01.

American Axle & Manufacturing Price Performance

American Axle & Manufacturing stock opened at $5.20 on Thursday. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.40 and a quick ratio of 1.02. The stock has a market capitalization of $1.24 billion, a PE ratio of 6.18, a price-to-earnings-growth ratio of 0.19 and a beta of 1.69. The business has a 50 day simple moving average of $6.15 and a 200-day simple moving average of $5.99. American Axle & Manufacturing has a 12 month low of $4.91 and a 12 month high of $9.25.

American Axle & Manufacturing (NYSE:DCH) last issued its earnings results on Friday, August 7th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.18. American Axle & Manufacturing had a negative net margin of 2.01% and a positive return on equity of 15.94%. The business had revenue of $2.96 billion for the quarter. Equities analysts predict that American Axle & Manufacturing will post 0.94 earnings per share for the current year.

About American Axle & Manufacturing

American Axle & Manufacturing Holdings, Inc is a global automotive supplier that designs, engineers and manufactures driveline and metal-forming systems. Its products are used in passenger cars, crossover vehicles, sport utility vehicles, pickup trucks and commercial vehicles.

The company’s product portfolio includes axles, driveshafts, differentials, power-transfer units, transmission components and other driveline assemblies. AAM also produces forged, cast and machined metal components, as well as propulsion technologies intended for vehicles with internal-combustion, hybrid and electric powertrains.

Founded in 1994 by Richard E.