Morgan Stanley Issues Pessimistic Forecast for American Axle & Manufacturing (NYSE:AXL) Stock Price

American Axle & Manufacturing (NYSE:AXL) had its price target decreased by Morgan Stanley from $8.00 to $7.50 in a research note issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the auto parts company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 64.84% from the stock’s current price.

Several other equities research analysts have also issued reports on AXL. UBS Group lowered their price target on shares of American Axle & Manufacturing from $6.00 to $3.50 and set a “neutral” rating on the stock in a report on Thursday, April 10th. Barclays cut their price target on shares of American Axle & Manufacturing from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Cowen reiterated a “hold” rating on shares of American Axle & Manufacturing in a research note on Monday, May 5th. StockNews.com raised American Axle & Manufacturing from a “hold” rating to a “buy” rating in a report on Thursday, May 8th. Finally, TD Cowen started coverage on American Axle & Manufacturing in a research note on Friday, March 7th. They issued a “hold” rating and a $5.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.93.

American Axle & Manufacturing Trading Up 0.4%

American Axle & Manufacturing stock opened at $4.55 on Monday. The company’s fifty day simple moving average is $3.94 and its 200-day simple moving average is $5.15. The company has a quick ratio of 1.25, a current ratio of 1.63 and a debt-to-equity ratio of 4.58. American Axle & Manufacturing has a 12 month low of $3.00 and a 12 month high of $7.86. The stock has a market cap of $538.42 million, a P/E ratio of 16.25 and a beta of 1.71.

American Axle & Manufacturing (NYSE:AXL) last posted its earnings results on Friday, May 2nd. The auto parts company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.06 by $0.03. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.43 billion. American Axle & Manufacturing had a net margin of 0.57% and a return on equity of 10.44%. The business’s quarterly revenue was down 12.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.18 earnings per share. As a group, sell-side analysts forecast that American Axle & Manufacturing will post 0.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AXL. Lazard Asset Management LLC acquired a new stake in American Axle & Manufacturing during the 4th quarter valued at $51,000. Ethic Inc. bought a new stake in shares of American Axle & Manufacturing during the fourth quarter worth $59,000. Ground Swell Capital LLC acquired a new stake in shares of American Axle & Manufacturing in the fourth quarter valued at $61,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of American Axle & Manufacturing in the fourth quarter valued at about $62,000. Finally, Cibc World Markets Corp acquired a new position in American Axle & Manufacturing during the 4th quarter worth about $63,000. 91.41% of the stock is owned by institutional investors and hedge funds.

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.