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

American Axle & Manufacturing (NYSE:AXL) had its price objective trimmed by Morgan Stanley from $10.00 to $8.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has an overweight rating on the auto parts company’s stock.

Several other equities analysts have also commented 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 decreased their price target on American Axle & Manufacturing from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $6.00 price target on shares of American Axle & Manufacturing in a research note on Tuesday, February 18th. Finally, UBS Group decreased their price target on American Axle & Manufacturing from $6.50 to $6.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.93.

American Axle & Manufacturing Price Performance

Shares of American Axle & Manufacturing stock opened at $4.68 on Monday. The company has a current ratio of 1.63, a quick ratio of 1.25 and a debt-to-equity ratio of 4.58. The firm has a market capitalization of $549.69 million, a PE ratio of 16.70 and a beta of 1.94. The business’s 50-day moving average price is $5.46 and its 200-day moving average price is $5.97. American Axle & Manufacturing has a 12 month low of $4.45 and a 12 month high of $7.98.

American Axle & Manufacturing (NYSE:AXL) last announced its quarterly earnings data on Friday, February 14th. The auto parts company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.39 billion. American Axle & Manufacturing had a return on equity of 10.44% and a net margin of 0.57%. The company’s revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.09) EPS. Sell-side analysts forecast that American Axle & Manufacturing will post 0.57 EPS for the current fiscal year.

Institutional Investors Weigh In On American Axle & Manufacturing

A number of large investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio bought a new stake in shares of American Axle & Manufacturing in the 4th quarter worth approximately $827,000. PharVision Advisers LLC bought a new stake in shares of American Axle & Manufacturing during the fourth quarter valued at approximately $96,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of 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 valued at $2,078,000 after purchasing an additional 52,751 shares in the last quarter. Squarepoint Ops LLC boosted its position in shares of 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 purchasing an additional 342,211 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in shares of American Axle & Manufacturing by 44.4% during the fourth quarter. ProShare Advisors LLC now owns 34,700 shares of the auto parts company’s stock valued at $202,000 after purchasing an additional 10,663 shares in the last quarter. 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.