Brokerages Set American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Target Price at $9.92

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) has earned an average rating of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $9.9167.

Several research firms recently commented on AXL. BWS Financial assumed coverage on shares of American Axle & Manufacturing in a research note on Tuesday, January 27th. They set a “buy” rating and a $17.00 price objective for the company. Stifel Nicolaus lifted their price target on shares of American Axle & Manufacturing from $7.00 to $8.00 and gave the stock a “hold” rating in a report on Friday, January 23rd. Royal Bank Of Canada upped their price target on American Axle & Manufacturing from $9.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. UBS Group raised their price objective on American Axle & Manufacturing from $8.50 to $10.50 and gave the stock a “buy” rating in a research report on Wednesday, January 14th. Finally, Morgan Stanley set a $7.00 target price on American Axle & Manufacturing in a research report on Monday, December 8th.

American Axle & Manufacturing Trading Up 2.8%

Shares of NYSE AXL opened at $8.21 on Friday. American Axle & Manufacturing has a 1-year low of $3.00 and a 1-year high of $8.63. The business has a fifty day moving average price of $7.03 and a 200 day moving average price of $6.23. The stock has a market capitalization of $973.93 million, a P/E ratio of 24.86 and a beta of 1.60. The company has a debt-to-equity ratio of 3.61, a current ratio of 1.77 and a quick ratio of 1.43.

American Axle & Manufacturing (NYSE:AXL) last announced its earnings results on Friday, November 7th. The auto parts company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.52 billion. American Axle & Manufacturing had a net margin of 0.72% and a return on equity of 7.92%. The firm’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the company posted $0.20 earnings per share. Equities research analysts expect that American Axle & Manufacturing will post 0.57 EPS for the current fiscal year.

Hedge Funds Weigh In On American Axle & Manufacturing

Several hedge funds and other institutional investors have recently modified their holdings of AXL. Hantz Financial Services Inc. grew its position in American Axle & Manufacturing by 267.7% during 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 during the last quarter. Signaturefd LLC raised its holdings in shares of American Axle & Manufacturing by 825.6% in the second 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 acquired a new stake in shares of American Axle & Manufacturing during the third quarter worth $50,000. Riverbend Wealth Management LLC purchased a new stake in shares of American Axle & Manufacturing during the second quarter valued at $42,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of American Axle & Manufacturing in the 3rd quarter valued at $66,000. 91.41% of the stock is owned by hedge funds and other institutional investors.

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.