American Axle & Manufacturing (NYSE:AXL) PT Raised to $8.00

American Axle & Manufacturing (NYSE:AXL) had its target price raised by Citigroup from $7.50 to $8.00 in a research report released on Monday morning, Benzinga reports. The firm currently has a neutral rating on the auto parts company’s stock.

Several other equities research analysts also recently weighed in on AXL. UBS Group upped their target price on shares of American Axle & Manufacturing from $7.00 to $8.00 and gave the stock a neutral rating in a research note on Monday. StockNews.com raised shares of 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 given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $8.00.

American Axle & Manufacturing Stock Performance

Shares of AXL stock opened at $7.80 on Monday. American Axle & Manufacturing has a one year low of $6.29 and a one year high of $9.55. The firm’s 50 day moving average price is $7.14 and its 200-day moving average price is $7.50. The firm has a market cap of $916.33 million, a P/E ratio of -111.36, a P/E/G ratio of 2.69 and a beta of 2.19. The company has a debt-to-equity ratio of 4.40, a quick ratio of 1.31 and a current ratio of 1.69.

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

Institutional Investors Weigh In On American Axle & Manufacturing

Large investors have recently modified their holdings of the company. Boston Partners purchased a new stake in shares of American Axle & Manufacturing in the 3rd quarter valued at approximately $2,833,000. Mutual Advisors LLC purchased a new stake in shares of American Axle & Manufacturing in the 4th quarter valued at approximately $1,451,000. Barclays PLC increased its position in shares of American Axle & Manufacturing by 522.6% in the 3rd quarter. Barclays PLC now owns 1,122,458 shares of the auto parts company’s stock valued at $8,149,000 after purchasing an additional 942,186 shares during the last quarter. Vanguard Group Inc. increased its position in shares of American Axle & Manufacturing by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 13,954,294 shares of the auto parts company’s stock valued at $101,308,000 after purchasing an additional 144,529 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of American Axle & Manufacturing by 25.8% in the 3rd quarter. AQR Capital Management LLC now owns 949,974 shares of the auto parts company’s stock valued at $6,897,000 after purchasing an additional 194,863 shares during the last quarter. 91.41% of the stock is owned by hedge funds and other institutional investors.

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.