American Axle & Manufacturing (NYSE:AXL) Hits New 12-Month Low – Time to Sell?

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $5.40 and last traded at $5.51, with a volume of 94808 shares. The stock had previously closed at $5.82.

Wall Street Analyst Weigh In

Separately, Barclays dropped their target price on American Axle & Manufacturing from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.30.

American Axle & Manufacturing Price Performance

The business’s 50 day moving average price is $6.13 and its 200 day moving average price is $6.26. The stock has a market capitalization of $635.52 million, a P/E ratio of 22.52 and a beta of 1.96. The company has a debt-to-equity ratio of 4.28, a current ratio of 1.65 and a quick ratio of 1.29.

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

Institutional Trading of American Axle & Manufacturing

Several hedge funds have recently modified their holdings of the company. Thrivent Financial for Lutherans grew its position in American Axle & Manufacturing by 45.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 385,067 shares of the auto parts company’s stock worth $2,380,000 after purchasing an additional 119,991 shares during the period. XTX Topco Ltd purchased a new stake in shares of American Axle & Manufacturing during the third quarter worth $62,000. Barclays PLC grew its stake in American Axle & Manufacturing by 274.4% during the 3rd quarter. Barclays PLC now owns 199,795 shares of the auto parts company’s stock valued at $1,234,000 after acquiring an additional 146,430 shares in the last quarter. FMR LLC increased its holdings in shares of American Axle & Manufacturing by 25.8% in the third quarter. FMR LLC now owns 511,378 shares of the auto parts company’s stock valued at $3,160,000 after purchasing an additional 104,936 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of American Axle & Manufacturing by 540.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 199,514 shares of the auto parts company’s stock worth $1,233,000 after acquiring an additional 168,348 shares during the period. 91.41% of the stock is owned by hedge funds and other institutional investors.

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.