American Axle & Manufacturing’s (AXL) Sector Perform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of American Axle & Manufacturing (NYSE:AXL) in a report released on Tuesday morning,Benzinga reports. They currently have a $6.00 target price on the auto parts company’s stock.

Several other research firms have also recently weighed in on AXL. StockNews.com cut shares of American Axle & Manufacturing from a “buy” rating to a “hold” rating in a research report on Monday. UBS Group lowered their price objective on American Axle & Manufacturing from $6.50 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Barclays decreased their target price on shares of American Axle & Manufacturing from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $6.75.

American Axle & Manufacturing Price Performance

NYSE:AXL opened at $5.79 on Tuesday. The firm’s fifty day moving average price is $5.70 and its two-hundred day moving average price is $6.06. The company has a market cap of $680.21 million, a P/E ratio of 24.10 and a beta of 1.94. American Axle & Manufacturing has a one year low of $4.70 and a one year high of $8.20. The company has a debt-to-equity ratio of 4.28, a current ratio of 1.65 and a quick ratio of 1.29.

American Axle & Manufacturing (NYSE:AXL) last announced its earnings results on Friday, February 14th. The auto parts company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.39 billion. American Axle & Manufacturing had a net margin of 0.48% and a return on equity of 9.63%. American Axle & Manufacturing’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.09) earnings per share. Equities analysts expect that American Axle & Manufacturing will post 0.49 earnings per share for the current year.

Hedge Funds Weigh In On American Axle & Manufacturing

A number of institutional investors and hedge funds have recently modified their holdings of AXL. KBC Group NV boosted its holdings in shares of American Axle & Manufacturing by 81.3% during the 3rd quarter. KBC Group NV now owns 7,160 shares of the auto parts company’s stock worth $44,000 after buying an additional 3,211 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of American Axle & Manufacturing in the 4th quarter worth $51,000. Ethic Inc. bought a new position in shares of American Axle & Manufacturing in the 4th quarter worth $59,000. Ground Swell Capital LLC bought a new position in shares of American Axle & Manufacturing in the 4th quarter worth $61,000. Finally, XTX Topco Ltd bought a new position in shares of American Axle & Manufacturing in the 3rd quarter worth $62,000. 91.41% of the stock is currently owned by institutional investors.

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.