American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) posted its quarterly earnings results on Wednesday. The auto parts company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.21, Bloomberg Earnings reports. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.63 billion. American Axle & Manufacturing Holdings had a net margin of 5.32% and a return on equity of 42.42%. American Axle & Manufacturing Holdings’s quarterly revenue was up 71.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 earnings per share.
American Axle & Manufacturing Holdings (AXL) traded up $1.13 during trading on Friday, hitting $18.94. 4,678,173 shares of the stock were exchanged, compared to its average volume of 1,583,313. The firm has a market capitalization of $2.01 billion, a PE ratio of 5.03 and a beta of 1.37.
In other news, Director George Thanopoulos sold 125,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $15.03, for a total value of $1,878,750.00. Following the sale, the director now directly owns 1,001,986 shares of the company’s stock, valued at approximately $15,059,849.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.96% of the stock is currently owned by insiders.
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AXL has been the topic of a number of recent research reports. Off Wall Street initiated coverage on shares of American Axle & Manufacturing Holdings in a research report on Thursday, July 13th. They set a “buy” rating on the stock. ValuEngine upgraded shares of American Axle & Manufacturing Holdings from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. BidaskClub upgraded shares of American Axle & Manufacturing Holdings from a “sell” rating to a “hold” rating in a report on Friday, July 7th. Zacks Investment Research lowered shares of American Axle & Manufacturing Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. Finally, KeyCorp reiterated a “hold” rating on shares of American Axle & Manufacturing Holdings in a report on Sunday, September 17th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. American Axle & Manufacturing Holdings presently has a consensus rating of “Hold” and a consensus price target of $19.50.
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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