American Axle & Manufact. (NYSE:AXL) Shares Up 2.8%

Shares of American Axle & Manufact. Holdings, Inc. (NYSE:AXL) shot up 2.8% on Thursday . The stock traded as high as $7.23 and last traded at $7.38, 54,536 shares were traded during mid-day trading. A decline of 98% from the average session volume of 2,802,956 shares. The stock had previously closed at $7.18.

Several brokerages have weighed in on AXL. Barclays lowered their price objective on American Axle & Manufact. from $20.00 to $12.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. ValuEngine upgraded American Axle & Manufact. from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. TheStreet downgraded American Axle & Manufact. from a “c-” rating to a “d+” rating in a research report on Tuesday, August 27th. Bank of America reiterated a “buy” rating and issued a $15.00 price objective on shares of American Axle & Manufact. in a research report on Tuesday, September 24th. Finally, Credit Suisse Group began coverage on American Axle & Manufact. in a research report on Wednesday, June 26th. They issued an “outperform” rating and a $15.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $15.78.

The company has a quick ratio of 1.20, a current ratio of 1.56 and a debt-to-equity ratio of 2.34. The stock has a market cap of $891.97 million, a P/E ratio of 2.42, a P/E/G ratio of 0.43 and a beta of 2.20. The company has a 50-day simple moving average of $7.44 and a two-hundred day simple moving average of $10.93.

American Axle & Manufact. (NYSE:AXL) last announced its earnings results on Friday, August 2nd. The auto parts company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.04). The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.78 billion. American Axle & Manufact. had a negative net margin of 2.94% and a positive return on equity of 14.28%. American Axle & Manufact.’s revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.23 EPS. As a group, sell-side analysts forecast that American Axle & Manufact. Holdings, Inc. will post 2.07 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Point72 Hong Kong Ltd bought a new position in shares of American Axle & Manufact. during the second quarter valued at approximately $30,000. Advisory Services Network LLC raised its holdings in shares of American Axle & Manufact. by 27.0% during the second quarter. Advisory Services Network LLC now owns 6,043 shares of the auto parts company’s stock valued at $77,000 after acquiring an additional 1,284 shares in the last quarter. Cerebellum GP LLC bought a new position in shares of American Axle & Manufact. during the third quarter valued at approximately $126,000. Camelot Portfolios LLC purchased a new stake in American Axle & Manufact. in the second quarter worth $128,000. Finally, Brave Asset Management Inc. grew its stake in American Axle & Manufact. by 24.5% in the second quarter. Brave Asset Management Inc. now owns 13,075 shares of the auto parts company’s stock worth $167,000 after purchasing an additional 2,575 shares during the period.

About American Axle & Manufact. (NYSE:AXL)

American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, validates, and manufactures driveline, metal forming, powertrain, and casting products in the United States, Mexico, South America, China, other Asian countries, Europe, and internationally. The company's Driveline segment offers axles, drive shafts, power transfer units, rear drive modules, transfer cases, and electric and hybrid driveline products and systems for light trucks, sport utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.

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