American Axle & Manufacturing (NYSE:AXL) Stock Price Down 4.8% on Analyst Downgrade

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)’s share price was down 4.8% during mid-day trading on Wednesday after Barclays lowered their price target on the stock from $8.00 to $7.00. Barclays currently has an equal weight rating on the stock. American Axle & Manufacturing traded as low as $5.64 and last traded at $5.63. Approximately 879,291 shares changed hands during trading, a decline of 42% from the average daily volume of 1,508,760 shares. The stock had previously closed at $5.91.

Institutional Trading of American Axle & Manufacturing

Several large investors have recently added to or reduced their stakes in the business. Barclays PLC boosted its stake in shares of American Axle & Manufacturing by 274.4% during the 3rd quarter. Barclays PLC now owns 199,795 shares of the auto parts company’s stock worth $1,234,000 after acquiring an additional 146,430 shares during the last quarter. Geode Capital Management LLC raised its holdings in American Axle & Manufacturing by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,654,883 shares of the auto parts company’s stock worth $16,411,000 after purchasing an additional 21,054 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in American Axle & Manufacturing during the third quarter valued at $222,000. XTX Topco Ltd bought a new stake in American Axle & Manufacturing during the third quarter valued at about $62,000. Finally, Zacks Investment Management purchased a new stake in American Axle & Manufacturing in the third quarter worth about $70,000. 91.41% of the stock is currently owned by institutional investors.

American Axle & Manufacturing Price Performance

The company has a quick ratio of 1.29, a current ratio of 1.65 and a debt-to-equity ratio of 4.28. The stock has a market cap of $667.27 million, a P/E ratio of 23.65 and a beta of 1.96. The firm has a 50 day moving average price of $6.20 and a 200 day moving average price of $6.31.

American Axle & Manufacturing (NYSE:AXL) last released its earnings results on Friday, November 8th. The auto parts company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.25. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.51 billion. American Axle & Manufacturing had a net margin of 0.48% and a return on equity of 9.63%. The firm’s revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.11) EPS. On average, analysts forecast that American Axle & Manufacturing Holdings, Inc. will post 0.47 EPS for the current fiscal year.

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.