Barclays Lowers American Axle & Manufacturing (NYSE:AXL) Price Target to $7.00

American Axle & Manufacturing (NYSE:AXL) had its price target reduced by equities researchers at Barclays from $8.00 to $7.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the auto parts company’s stock. Barclays‘s price target suggests a potential upside of 20.98% from the stock’s current price.

American Axle & Manufacturing Stock Performance

NYSE AXL traded down $0.12 during trading hours on Wednesday, hitting $5.79. The company had a trading volume of 182,812 shares, compared to its average volume of 1,455,109. American Axle & Manufacturing has a 1-year low of $5.41 and a 1-year high of $8.98. The company has a market cap of $680.32 million, a PE ratio of 24.11 and a beta of 1.96. The business has a 50 day moving average of $6.20 and a 200-day moving average of $6.31. The company has a debt-to-equity ratio of 4.28, a quick ratio of 1.29 and a current ratio of 1.65.

American Axle & Manufacturing (NYSE:AXL) last announced its earnings results on Friday, November 8th. The auto parts company reported $0.20 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.25. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.51 billion. American Axle & Manufacturing had a net margin of 0.48% and a return on equity of 9.63%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.11) earnings per share. As a group, equities research analysts expect that American Axle & Manufacturing will post 0.47 EPS for the current year.

Institutional Trading of American Axle & Manufacturing

A number of hedge funds have recently bought and sold shares of the company. Atom Investors LP grew its stake in shares of American Axle & Manufacturing by 1.0% during the 3rd quarter. Atom Investors LP now owns 203,152 shares of the auto parts company’s stock valued at $1,255,000 after buying an additional 2,087 shares during the period. Xponance Inc. boosted its position in American Axle & Manufacturing by 18.2% during the 2nd quarter. Xponance Inc. now owns 18,225 shares of the auto parts company’s stock worth $127,000 after purchasing an additional 2,800 shares during the period. Highland Capital Management LLC boosted its position in American Axle & Manufacturing by 10.8% during the 3rd quarter. Highland Capital Management LLC now owns 29,405 shares of the auto parts company’s stock worth $182,000 after purchasing an additional 2,868 shares during the period. KBC Group NV boosted its position in 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 purchasing an additional 3,211 shares during the period. Finally, Quadrature Capital Ltd boosted its position in American Axle & Manufacturing by 28.6% during the 3rd quarter. Quadrature Capital Ltd now owns 17,365 shares of the auto parts company’s stock worth $107,000 after purchasing an additional 3,861 shares during the period. Institutional investors and hedge funds 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.