American Axle & Manufact. (AXL) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of American Axle & Manufact. (NYSE:AXL) from a strong-buy rating to a hold rating in a report issued on Tuesday morning.

According to Zacks, “The Zacks Consensus Estimate for yearly earnings of American Axle has moved up over the past 60 days. The company is undertaking various strategic actions to diversify its business and customer base in order to generate incremental revenues. It has provided an improved guidance for fiscal 2017 and is also undergoing a significant expansion of its manufacturing footprint, particularly in Asia, where growing demand for vehicles is enhancing production volumes. Also, a strong cash flow enables American Axle to pursue its capital deployment strategies.”

Other equities analysts also recently issued reports about the company. B. Riley restated a sell rating on shares of American Axle & Manufact. in a research note on Wednesday, November 1st. ValuEngine upgraded American Axle & Manufact. from a hold rating to a buy rating in a research note on Tuesday, September 26th. Bank of America raised their target price on American Axle & Manufact. from $12.00 to $13.00 and gave the stock an underperform rating in a report on Monday, November 6th. Royal Bank of Canada reaffirmed a buy rating and issued a $23.00 target price on shares of American Axle & Manufact. in a report on Friday, November 3rd. Finally, KeyCorp reaffirmed a hold rating on shares of American Axle & Manufact. in a report on Sunday, September 17th. Five equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $19.67.

American Axle & Manufact. (NYSE:AXL) opened at $18.37 on Tuesday. The stock has a market capitalization of $2,040.00, a price-to-earnings ratio of 6.27, a PEG ratio of 0.64 and a beta of 1.36. American Axle & Manufact. has a 52 week low of $13.38 and a 52 week high of $21.25. The company has a quick ratio of 1.41, a current ratio of 1.72 and a debt-to-equity ratio of 2.90.

American Axle & Manufact. (NYSE:AXL) last released its quarterly earnings results on Friday, November 3rd. The auto parts company reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.21. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.63 billion. American Axle & Manufact. had a return on equity of 36.26% and a net margin of 5.07%. The company’s revenue for the quarter was up 71.2% on a year-over-year basis. During the same period last year, the business posted $0.78 EPS. research analysts predict that American Axle & Manufact. will post 3.6 earnings per share for the current year.

In other American Axle & Manufact. news, major shareholder American Securities Llc sold 15,000,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $17.37, for a total transaction of $260,550,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director George Thanopoulos sold 100,000 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $17.21, for a total value of $1,721,000.00. Following the sale, the director now directly owns 299,013 shares in the company, valued at $5,146,013.73. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,604,931 shares of company stock worth $271,156,687. 0.96% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. raised its holdings in American Axle & Manufact. by 7.6% during the second quarter. Ameritas Investment Partners Inc. now owns 7,128 shares of the auto parts company’s stock valued at $111,000 after acquiring an additional 503 shares during the period. Public Employees Retirement System of Ohio raised its holdings in American Axle & Manufact. by 13.7% during the second quarter. Public Employees Retirement System of Ohio now owns 7,433 shares of the auto parts company’s stock valued at $116,000 after acquiring an additional 895 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in American Axle & Manufact. by 2.1% during the second quarter. State Board of Administration of Florida Retirement System now owns 67,689 shares of the auto parts company’s stock valued at $1,056,000 after acquiring an additional 1,363 shares during the period. Amalgamated Bank raised its holdings in American Axle & Manufact. by 18.7% during the second quarter. Amalgamated Bank now owns 12,041 shares of the auto parts company’s stock valued at $188,000 after acquiring an additional 1,900 shares during the period. Finally, UBS Asset Management Americas Inc. raised its holdings in American Axle & Manufact. by 5.0% during the second quarter. UBS Asset Management Americas Inc. now owns 56,999 shares of the auto parts company’s stock valued at $889,000 after acquiring an additional 2,731 shares during the period.

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American Axle & Manufact. 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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