American Axle & Manufacturing (NYSE:AXL) Trading Down 6.4% – Here’s Why

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)’s stock price traded down 6.4% during trading on Monday . The company traded as low as $4.80 and last traded at $4.90. 934,437 shares were traded during mid-day trading, a decline of 52% from the average session volume of 1,951,186 shares. The stock had previously closed at $5.23.

Analyst Upgrades and Downgrades

Separately, Barclays dropped their price target on American Axle & Manufacturing from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $7.30.

American Axle & Manufacturing Stock Up 0.5 %

The firm has a fifty day moving average price of $6.02 and a 200 day moving average price of $6.20. The firm has a market capitalization of $601.42 million, a price-to-earnings ratio of 21.31 and a beta of 1.94. The company has a debt-to-equity ratio of 4.28, a quick ratio of 1.29 and a current ratio of 1.65.

American Axle & Manufacturing (NYSE:AXL) last issued its earnings results on Friday, November 8th. The auto parts company reported $0.20 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.25. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.51 billion. American Axle & Manufacturing had a net margin of 0.48% and a return on equity of 9.63%. The business’s revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.11) EPS. As a group, sell-side analysts expect that American Axle & Manufacturing Holdings, Inc. will post 0.49 EPS for the current fiscal year.

Institutional Trading of American Axle & Manufacturing

Several institutional investors and hedge funds have recently modified their holdings of AXL. Jacobs Levy Equity Management Inc. boosted its position in American Axle & Manufacturing by 31.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,273,917 shares of the auto parts company’s stock worth $14,053,000 after acquiring an additional 548,860 shares during the last quarter. Whitebox Advisors LLC grew its position in shares of American Axle & Manufacturing by 38.0% in the third quarter. Whitebox Advisors LLC now owns 1,415,173 shares of the auto parts company’s stock valued at $8,746,000 after purchasing an additional 389,760 shares during the period. Algert Global LLC increased its stake in American Axle & Manufacturing by 31.9% in the third quarter. Algert Global LLC now owns 921,396 shares of the auto parts company’s stock valued at $5,694,000 after purchasing an additional 223,032 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in American Axle & Manufacturing by 540.2% during the third quarter. Assenagon Asset Management S.A. now owns 199,514 shares of the auto parts company’s stock worth $1,233,000 after buying an additional 168,348 shares during the period. Finally, Dynamic Technology Lab Private Ltd grew its holdings in American Axle & Manufacturing by 325.3% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 194,682 shares of the auto parts company’s stock valued at $1,204,000 after buying an additional 148,909 shares during the period. Hedge funds and other institutional investors own 91.41% of the company’s stock.

American Axle & Manufacturing Company Profile

American Axle & Manufacturing Holdings, Inc engages in the manufacture, engineering, design, and validation of driveline systems and related components. It operates through the Driveline and Metal Forming segments. The Driveline segment consists of axles, drive shafts, power transfer units, rear drive modules, and electric and hybrid driveline products and systems for light trucks, service utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.