American Axle & Manufacturing (NYSE:AXL) Price Target Lowered to $8.00 at Morgan Stanley

American Axle & Manufacturing (NYSE:AXL) had its price target cut by Morgan Stanley from $10.00 to $8.00 in a report issued on Monday,Benzinga reports. They currently have an overweight rating on the auto parts company’s stock.

Several other research analysts have also weighed in on the company. StockNews.com lowered American Axle & Manufacturing from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Barclays cut their price target on shares of American Axle & Manufacturing from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $6.00 target price on shares of American Axle & Manufacturing in a report on Tuesday, February 18th. Finally, UBS Group cut their target price on shares of American Axle & Manufacturing from $6.50 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, American Axle & Manufacturing presently has an average rating of “Hold” and an average price target of $6.93.

American Axle & Manufacturing Stock Down 4.2 %

NYSE:AXL opened at $4.75 on Monday. American Axle & Manufacturing has a 1 year low of $4.70 and a 1 year high of $7.98. The stock has a 50-day moving average price of $5.51 and a two-hundred day moving average price of $5.99. The stock has a market cap of $558.51 million, a price-to-earnings ratio of 16.96 and a beta of 1.94. The company has a current ratio of 1.63, a quick ratio of 1.25 and a debt-to-equity ratio of 4.58.

American Axle & Manufacturing (NYSE:AXL) last issued its quarterly earnings data on Friday, February 14th. The auto parts company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.39 billion. American Axle & Manufacturing had a net margin of 0.57% and a return on equity of 10.44%. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period last year, the business posted ($0.09) earnings per share. As a group, equities analysts expect that American Axle & Manufacturing will post 0.57 earnings per share for the current year.

Hedge Funds Weigh In On American Axle & Manufacturing

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in American Axle & Manufacturing by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 15,713,232 shares of the auto parts company’s stock valued at $91,608,000 after buying an additional 462,847 shares in the last quarter. State Street Corp grew its stake in shares of American Axle & Manufacturing by 0.5% in the third quarter. State Street Corp now owns 4,704,889 shares of the auto parts company’s stock valued at $29,076,000 after acquiring an additional 23,538 shares in the last quarter. American Century Companies Inc. increased its position in American Axle & Manufacturing by 12.4% during the fourth quarter. American Century Companies Inc. now owns 3,856,509 shares of the auto parts company’s stock worth $22,483,000 after acquiring an additional 426,933 shares during the period. Geode Capital Management LLC raised its stake 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in American Axle & Manufacturing by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,562,553 shares of the auto parts company’s stock valued at $15,837,000 after purchasing an additional 65,535 shares during the period. Institutional investors own 91.41% of the company’s stock.

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.