American Axle & Manufacturing (NYSE:AXL) Sets New 52-Week High – Still a Buy?

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) hit a new 52-week high on Tuesday . The stock traded as high as $7.92 and last traded at $7.8050, with a volume of 1183206 shares changing hands. The stock had previously closed at $7.73.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AXL shares. UBS Group increased their target price on shares of American Axle & Manufacturing from $7.50 to $8.50 and gave the stock a “buy” rating in a research report on Monday, October 6th. Wall Street Zen raised shares of American Axle & Manufacturing from a “buy” rating to a “strong-buy” rating in a report on Sunday. Weiss Ratings reissued a “hold (c-)” rating on shares of American Axle & Manufacturing in a report on Monday, December 29th. Morgan Stanley set a $7.00 target price on American Axle & Manufacturing in a research report on Monday, December 8th. Finally, Stifel Nicolaus lifted their price target on American Axle & Manufacturing from $6.00 to $7.00 and gave the company a “hold” rating in a research report on Monday, October 20th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $7.08.

American Axle & Manufacturing Stock Up 0.3%

The company has a market cap of $920.52 million, a PE ratio of 23.50 and a beta of 1.58. The stock has a 50-day moving average of $6.47 and a 200-day moving average of $5.83. The company has a quick ratio of 1.43, a current ratio of 1.77 and a debt-to-equity ratio of 3.61.

American Axle & Manufacturing (NYSE:AXL) last released its quarterly earnings results on Friday, November 7th. The auto parts company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.04. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.52 billion. American Axle & Manufacturing had a return on equity of 7.92% and a net margin of 0.72%.The company’s revenue was up .3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.20 EPS. Sell-side analysts predict that American Axle & Manufacturing Holdings, Inc. will post 0.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. boosted its holdings in shares of American Axle & Manufacturing by 267.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 4,383 shares of the auto parts company’s stock worth $26,000 after purchasing an additional 3,191 shares in the last quarter. Signaturefd LLC lifted its position in American Axle & Manufacturing by 825.6% in the 2nd quarter. Signaturefd LLC now owns 6,979 shares of the auto parts company’s stock worth $28,000 after buying an additional 6,225 shares during the last quarter. Quarry LP purchased a new stake in American Axle & Manufacturing in the third quarter worth approximately $50,000. Riverbend Wealth Management LLC bought a new position in shares of American Axle & Manufacturing during the 2nd quarter valued at $42,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in American Axle & Manufacturing during the third quarter valued at about $66,000. Institutional investors own 91.41% of the company’s stock.

American Axle & Manufacturing Company Profile

American Axle & Manufacturing Holdings, Inc (NYSE: AXL) is a global designer, engineer and manufacturer of driveline and drivetrain systems and components for light vehicles, commercial trucks and off-highway applications. The company’s core product portfolio includes axles, driveshafts, half-shafts, drive module assemblies and differential gears, as well as advanced metallic and composite structures for electric and hybrid vehicles. AAM’s capabilities also encompass system testing, rapid prototyping and precision machining to support both high-volume production and low-volume, specialty vehicle applications.

Founded in 1994 following the divestiture of the Detroit Axle Division of General Motors, American Axle & Manufacturing completed its initial public offering in 1998.