American Axle & Manufact. (AXL) Stock Rating Reaffirmed by Morgan Stanley

American Axle & Manufact. (NYSE:AXL)‘s stock had its “underweight” rating reissued by Morgan Stanley in a report released on Tuesday. They presently have a $16.00 price objective on the auto parts company’s stock, up from their prior price objective of $11.00. Morgan Stanley’s price objective would indicate a potential downside of 8.31% from the stock’s current price.

Several other brokerages have also commented on AXL. B. Riley reaffirmed a “sell” rating on shares of American Axle & Manufact. in a research report on Wednesday, November 1st. ValuEngine raised shares of American Axle & Manufact. from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Zacks Investment Research raised shares of American Axle & Manufact. from a “sell” rating to a “hold” rating and set a $20.00 price objective on the stock in a research note on Monday, October 16th. KeyCorp reissued a “hold” rating on shares of American Axle & Manufact. in a research note on Sunday, September 17th. Finally, Bank of America lifted their price target on shares of American Axle & Manufact. from $12.00 to $13.00 and gave the company an “underperform” rating in a research note on Monday, November 6th. Five investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $20.10.

American Axle & Manufact. (AXL) opened at $17.45 on Tuesday. The company has a current ratio of 1.72, a quick ratio of 1.41 and a debt-to-equity ratio of 2.90. American Axle & Manufact. has a 1-year low of $13.38 and a 1-year high of $21.25. The stock has a market cap of $1,955.37, a PE ratio of 4.80, a price-to-earnings-growth ratio of 0.60 and a beta of 1.35.

American Axle & Manufact. (NYSE:AXL) last released its quarterly earnings results on Friday, November 3rd. The auto parts company reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.21. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.63 billion. American Axle & Manufact. had a net margin of 5.07% and a return on equity of 36.26%. The company’s quarterly revenue was up 71.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.78 earnings per share. equities analysts anticipate that American Axle & Manufact. will post 3.63 earnings per share for the current year.

In other American Axle & Manufact. news, Director George Thanopoulos sold 123,901 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $15.15, for a total value of $1,877,100.15. Following the completion of the sale, the director now owns 876,745 shares in the company, valued at $13,282,686.75. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder American Securities Llc sold 15,000,000 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $17.37, for a total value of $260,550,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,248,901 shares of company stock valued at $264,305,850. 0.96% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio raised its stake in shares of American Axle & Manufact. by 6.2% during the first quarter. Public Employees Retirement System of Ohio now owns 6,538 shares of the auto parts company’s stock worth $123,000 after purchasing an additional 380 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in American Axle & Manufact. 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 acquiring an additional 503 shares in the last quarter. Victory Capital Management Inc. raised its position in American Axle & Manufact. 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 acquiring an additional 4,238 shares in the last quarter. CIBC Asset Management Inc purchased a new position in American Axle & Manufact. in the second quarter worth $162,000. Finally, Amalgamated Bank raised its position in American Axle & Manufact. 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 acquiring an additional 1,900 shares in the last quarter.

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About American Axle & Manufact.

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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