American Axle & Manufacturing (NYSE:AXL – Get Free Report)‘s stock had its “sector perform” rating reiterated by equities research analysts at Royal Bank of Canada in a note issued to investors on Tuesday,Benzinga reports. They currently have a $6.00 price target on the auto parts company’s stock. Royal Bank of Canada’s target price suggests a potential upside of 3.72% from the company’s current price.
A number of other equities research analysts have also commented on the company. UBS Group decreased their price objective on American Axle & Manufacturing from $6.50 to $6.00 and set a “neutral” rating for the company in a research report on Tuesday. Barclays lowered their price objective on shares of American Axle & Manufacturing from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. Finally, StockNews.com downgraded shares of American Axle & Manufacturing from a “buy” rating to a “hold” rating in a research report on Monday. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $6.75.
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American Axle & Manufacturing Price Performance
American Axle & Manufacturing (NYSE:AXL – Get Free Report) last posted its quarterly earnings results on Friday, February 14th. The auto parts company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.39 billion. American Axle & Manufacturing had a return on equity of 9.63% and a net margin of 0.48%. The firm’s revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.09) earnings per share. On average, research analysts predict that American Axle & Manufacturing will post 0.49 EPS for the current fiscal year.
Hedge Funds Weigh In On American Axle & Manufacturing
Several large investors have recently bought and sold shares of the stock. PharVision Advisers LLC acquired a new position in shares of American Axle & Manufacturing during the fourth quarter valued at about $96,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in American Axle & Manufacturing by 17.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 356,460 shares of the auto parts company’s stock worth $2,078,000 after buying an additional 52,751 shares in the last quarter. Squarepoint Ops LLC increased its stake in American Axle & Manufacturing by 207.4% during the fourth quarter. Squarepoint Ops LLC now owns 507,187 shares of the auto parts company’s stock valued at $2,957,000 after acquiring an additional 342,211 shares during the period. ProShare Advisors LLC raised its holdings in American Axle & Manufacturing by 44.4% in the 4th quarter. ProShare Advisors LLC now owns 34,700 shares of the auto parts company’s stock valued at $202,000 after acquiring an additional 10,663 shares in the last quarter. Finally, Quantinno Capital Management LP bought a new stake in shares of American Axle & Manufacturing in the 4th quarter worth approximately $80,000. 91.41% of the stock is currently owned by institutional investors and hedge funds.
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.
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