American Axle & Manufacturing’s (AXL) Sector Perform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of American Axle & Manufacturing (NYSE:AXL) in a report released on Tuesday,Benzinga reports. The brokerage currently has a $6.00 price target on the auto parts company’s stock.

A number of other research firms have also weighed in on AXL. Barclays lowered their price objective on shares of American Axle & Manufacturing from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. UBS Group decreased their price target on shares of American Axle & Manufacturing from $6.50 to $6.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, StockNews.com lowered shares of American Axle & Manufacturing from a “buy” rating to a “hold” rating in a research report on Monday. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat, American Axle & Manufacturing currently has a consensus rating of “Hold” and an average price target of $6.75.

American Axle & Manufacturing Stock Up 0.3 %

NYSE:AXL opened at $5.87 on Tuesday. American Axle & Manufacturing has a 1-year low of $4.70 and a 1-year high of $7.98. The company has a 50-day moving average of $5.66 and a 200 day moving average of $6.05. The firm has a market cap of $689.61 million, a PE ratio of 20.95 and a beta of 1.94. The company has a debt-to-equity ratio of 4.58, a current ratio of 1.63 and a quick ratio of 1.25.

American Axle & Manufacturing (NYSE:AXL) last released its quarterly earnings data on Friday, February 14th. The auto parts company reported ($0.06) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.06). American Axle & Manufacturing had a net margin of 0.57% and a return on equity of 10.44%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period in the prior year, the firm earned ($0.09) earnings per share. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, research analysts anticipate that American Axle & Manufacturing will post 0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On American Axle & Manufacturing

Hedge funds have recently modified their holdings of the stock. KBC Group NV increased its holdings in shares of American Axle & Manufacturing by 81.3% during the third quarter. KBC Group NV now owns 7,160 shares of the auto parts company’s stock valued at $44,000 after acquiring an additional 3,211 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of American Axle & Manufacturing during the fourth quarter valued at about $51,000. XTX Topco Ltd acquired a new position in shares of American Axle & Manufacturing during the third quarter valued at about $62,000. Ethic Inc. acquired a new position in shares of American Axle & Manufacturing during the fourth quarter valued at about $59,000. Finally, Ground Swell Capital LLC acquired a new position in shares of American Axle & Manufacturing during the fourth quarter valued at about $61,000. Institutional investors and hedge funds own 91.41% of the company’s stock.

About American Axle & Manufacturing

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.