UBS Group Increases American Axle & Manufacturing (NYSE:AXL) Price Target to $8.00

American Axle & Manufacturing (NYSE:AXL) had its target price lifted by equities research analysts at UBS Group from $7.00 to $8.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the auto parts company’s stock. UBS Group’s price target suggests a potential upside of 5.54% from the stock’s current price.

Separately, StockNews.com upgraded American Axle & Manufacturing from a “hold” rating to a “buy” rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $8.00.

American Axle & Manufacturing Stock Down 1.0 %

Shares of AXL opened at $7.58 on Monday. American Axle & Manufacturing has a 52 week low of $6.29 and a 52 week high of $9.55. The company has a quick ratio of 1.31, a current ratio of 1.69 and a debt-to-equity ratio of 4.40. The company has a market capitalization of $890.95 million, a price-to-earnings ratio of -108.27, a PEG ratio of 2.69 and a beta of 2.19. The stock’s 50-day moving average price is $7.11 and its 200-day moving average price is $7.50.

American Axle & Manufacturing (NYSE:AXL) last issued its earnings results on Friday, May 3rd. The auto parts company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.16. American Axle & Manufacturing had a positive return on equity of 1.92% and a negative net margin of 0.13%. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the business earned ($0.01) earnings per share. The company’s revenue was up 7.6% compared to the same quarter last year. On average, sell-side analysts predict that American Axle & Manufacturing will post 0.35 EPS for the current year.

Hedge Funds Weigh In On American Axle & Manufacturing

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of American Axle & Manufacturing by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 14,146,031 shares of the auto parts company’s stock valued at $124,627,000 after acquiring an additional 191,737 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of American Axle & Manufacturing by 6.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,669,092 shares of the auto parts company’s stock valued at $67,565,000 after acquiring an additional 465,585 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of American Axle & Manufacturing by 6.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,076,121 shares of the auto parts company’s stock valued at $27,101,000 after acquiring an additional 187,653 shares during the last quarter. Invesco Ltd. raised its holdings in shares of American Axle & Manufacturing by 3.0% during the third quarter. Invesco Ltd. now owns 2,222,457 shares of the auto parts company’s stock valued at $16,135,000 after acquiring an additional 65,073 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of American Axle & Manufacturing by 19.0% during the first quarter. Sequoia Financial Advisors LLC now owns 1,912,907 shares of the auto parts company’s stock valued at $14,079,000 after acquiring an additional 304,847 shares during the last quarter. Hedge funds and other institutional investors own 91.41% of the company’s stock.

About American Axle & Manufacturing

American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, and manufactures driveline and metal forming technologies that supports electric, hybrid, and internal combustion vehicles. It operates through two segments, Driveline and Metal Forming segments. The Driveline segment offers front and rear axles, driveshafts, differential assemblies, clutch modules, balance shaft systems, disconnecting driveline technology, and electric and hybrid driveline products and systems for light trucks, sport utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.