American Axle & Manufacturing (NYSE:AXL) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of American Axle & Manufacturing (NYSE:AXL) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of American Axle & Manufacturing in a research note on Saturday, September 27th. UBS Group raised their price objective on American Axle & Manufacturing from $7.50 to $8.50 and gave the company a “buy” rating in a research note on Monday, October 6th. Stifel Nicolaus started coverage on American Axle & Manufacturing in a report on Thursday, August 21st. They issued a “hold” rating and a $6.00 price objective on the stock. Finally, Royal Bank Of Canada upgraded American Axle & Manufacturing from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $6.00 to $8.00 in a report on Tuesday, September 2nd. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $7.00.

American Axle & Manufacturing Trading Up 1.9%

NYSE AXL opened at $5.42 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.77 and a debt-to-equity ratio of 3.86. The stock’s 50-day simple moving average is $5.82 and its two-hundred day simple moving average is $4.74. American Axle & Manufacturing has a twelve month low of $3.00 and a twelve month high of $7.03. The company has a market capitalization of $643.14 million, a price-to-earnings ratio of 15.94, a PEG ratio of 0.60 and a beta of 1.53.

American Axle & Manufacturing (NYSE:AXL) last announced its quarterly earnings data on Friday, August 8th. The auto parts company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.07. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.54 billion. American Axle & Manufacturing had a return on equity of 8.90% and a net margin of 0.73%.American Axle & Manufacturing’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period last year, the firm posted $0.19 EPS. American Axle & Manufacturing has set its FY 2025 guidance at EPS. Research analysts forecast that American Axle & Manufacturing will post 0.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of American Axle & Manufacturing by 8.0% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,381 shares of the auto parts company’s stock worth $124,000 after purchasing an additional 2,243 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in American Axle & Manufacturing by 2.2% during the second quarter. Public Employees Retirement System of Ohio now owns 113,950 shares of the auto parts company’s stock valued at $465,000 after buying an additional 2,473 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in American Axle & Manufacturing by 7.4% in the second quarter. The Manufacturers Life Insurance Company now owns 43,524 shares of the auto parts company’s stock worth $178,000 after acquiring an additional 2,993 shares in the last quarter. SummerHaven Investment Management LLC grew its stake in shares of American Axle & Manufacturing by 3.6% in the second quarter. SummerHaven Investment Management LLC now owns 118,944 shares of the auto parts company’s stock worth $485,000 after acquiring an additional 4,154 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of American Axle & Manufacturing by 4.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 102,936 shares of the auto parts company’s stock valued at $424,000 after acquiring an additional 4,260 shares in the last quarter. 91.41% of the stock is owned by hedge funds and other institutional investors.

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.