Barclays Issues Pessimistic Forecast for American Axle & Manufacturing (NYSE:AXL) Stock Price

American Axle & Manufacturing (NYSE:AXL) had its price target lowered by investment analysts at Barclays from $8.00 to $7.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the auto parts company’s stock. Barclays‘s target price would indicate a potential upside of 22.48% from the company’s current price.

American Axle & Manufacturing Trading Up 0.8 %

NYSE AXL opened at $5.72 on Wednesday. The company has a quick ratio of 1.29, a current ratio of 1.65 and a debt-to-equity ratio of 4.28. American Axle & Manufacturing has a twelve month low of $5.41 and a twelve month high of $8.98. The company has a market cap of $671.97 million, a price-to-earnings ratio of 23.81 and a beta of 1.96. The business’s fifty day moving average is $6.18 and its 200 day moving average is $6.30.

American Axle & Manufacturing (NYSE:AXL) last released its quarterly earnings data on Friday, November 8th. The auto parts company reported $0.20 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.25. American Axle & Manufacturing had a return on equity of 9.63% and a net margin of 0.48%. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter last year, the business posted ($0.11) EPS. American Axle & Manufacturing’s revenue for the quarter was down 3.0% on a year-over-year basis. As a group, sell-side analysts expect that American Axle & Manufacturing will post 0.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Thrivent Financial for Lutherans raised its position in American Axle & Manufacturing by 45.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 385,067 shares of the auto parts company’s stock worth $2,380,000 after purchasing an additional 119,991 shares during the last quarter. XTX Topco Ltd bought a new position in American Axle & Manufacturing during the 3rd quarter worth $62,000. Barclays PLC raised its position in 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 purchasing an additional 146,430 shares during the last quarter. FMR LLC raised its position in American Axle & Manufacturing by 25.8% during the 3rd quarter. FMR LLC now owns 511,378 shares of the auto parts company’s stock worth $3,160,000 after purchasing an additional 104,936 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in American Axle & Manufacturing by 540.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 199,514 shares of the auto parts company’s stock worth $1,233,000 after purchasing an additional 168,348 shares during the last quarter. 91.41% of the stock is owned by institutional investors.

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.