American Axle & Manufacturing Holdings, Inc. (AXL) Stock Price Up 6.3% on Earnings Beat

Shares of American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) rose 6.3% during trading on Friday following a stronger than expected earnings report. The company traded as high as $20.27 and last traded at $18.94. Approximately 5,099,242 shares traded hands during trading, an increase of 222% from the average daily volume of 1,583,313 shares. The stock had previously closed at $17.81.

The auto parts company reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.21. American Axle & Manufacturing Holdings had a return on equity of 42.42% and a net margin of 5.32%. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the firm earned $0.78 EPS. American Axle & Manufacturing Holdings’s revenue for the quarter was up 71.2% compared to the same quarter last year.

AXL has been the topic of several recent research reports. Zacks Investment Research lowered American Axle & Manufacturing Holdings from a “hold” rating to a “strong sell” rating in a report on Monday, July 10th. ValuEngine lowered American Axle & Manufacturing Holdings from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Off Wall Street assumed coverage on American Axle & Manufacturing Holdings in a research note on Thursday, July 13th. They issued a “buy” rating on the stock. KeyCorp reaffirmed a “hold” rating on shares of American Axle & Manufacturing Holdings in a research note on Sunday, September 17th. Finally, BidaskClub lowered American Axle & Manufacturing Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. American Axle & Manufacturing Holdings has an average rating of “Hold” and an average target price of $19.50.

In other American Axle & Manufacturing Holdings news, Director George Thanopoulos sold 125,000 shares of the business’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $15.03, for a total value of $1,878,750.00. Following the transaction, the director now owns 1,001,986 shares of the company’s stock, valued at $15,059,849.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.96% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of AXL. Ameritas Investment Partners Inc. boosted its stake in American Axle & Manufacturing Holdings by 7.6% in the second quarter. Ameritas Investment Partners Inc. now owns 7,128 shares of the auto parts company’s stock worth $111,000 after purchasing an additional 503 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in American Axle & Manufacturing Holdings by 13.7% in the second quarter. Public Employees Retirement System of Ohio now owns 7,433 shares of the auto parts company’s stock worth $116,000 after purchasing an additional 895 shares in the last quarter. CIBC Asset Management Inc acquired a new position in American Axle & Manufacturing Holdings in the second quarter worth $162,000. Victory Capital Management Inc. boosted its stake in American Axle & Manufacturing Holdings by 76.9% in the third quarter. Victory Capital Management Inc. now owns 9,748 shares of the auto parts company’s stock worth $171,000 after purchasing an additional 4,238 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in American Axle & Manufacturing Holdings by 18.7% in the second quarter. Amalgamated Bank now owns 12,041 shares of the auto parts company’s stock worth $188,000 after purchasing an additional 1,900 shares in the last quarter.

The company has a debt-to-equity ratio of 3.22, a current ratio of 1.75 and a quick ratio of 1.43. The firm has a market capitalization of $2,107.83, a P/E ratio of 5.17, a P/E/G ratio of 0.71 and a beta of 1.37.

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American Axle & Manufacturing Holdings Company Profile

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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