Royal Bank of Canada Reaffirms “Sector Perform” Rating for American Axle & Manufacturing (NYSE:AXL)

American Axle & Manufacturing (NYSE:AXL)‘s stock had its “sector perform” rating reissued by Royal Bank of Canada in a research report issued on Wednesday,Benzinga reports. They presently have a $5.00 target price on the auto parts company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 50.38% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Barclays dropped their target price on shares of 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. Cowen began coverage on American Axle & Manufacturing in a research report on Thursday, March 6th. They set a “hold” rating for the company. StockNews.com downgraded shares of American Axle & Manufacturing from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Morgan Stanley decreased their price objective on shares of American Axle & Manufacturing from $10.00 to $8.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Finally, TD Cowen initiated coverage on shares of American Axle & Manufacturing in a research report on Friday, March 7th. They set a “hold” rating and a $5.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, American Axle & Manufacturing has an average rating of “Hold” and a consensus price target of $6.25.

American Axle & Manufacturing Trading Up 3.3 %

Shares of AXL opened at $3.33 on Wednesday. The stock’s fifty day simple moving average is $4.38 and its 200-day simple moving average is $5.47. The firm has a market capitalization of $393.46 million, a PE ratio of 11.88 and a beta of 1.70. American Axle & Manufacturing has a 12-month low of $3.00 and a 12-month high of $7.98. 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 (NYSE:AXL) last released its earnings results on Friday, February 14th. The auto parts company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). American Axle & Manufacturing had a net margin of 0.57% and a return on equity of 10.44%. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the prior year, the company posted ($0.09) EPS. The company’s revenue was down 5.6% compared to the same quarter last year. As a group, research analysts predict that American Axle & Manufacturing will post 0.57 earnings per share for the current year.

Institutional Investors Weigh In On American Axle & Manufacturing

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Lazard Asset Management LLC bought a new position in American Axle & Manufacturing during the 4th quarter worth about $51,000. Ethic Inc. acquired a new stake in American Axle & Manufacturing in the 4th quarter valued at approximately $59,000. Ground Swell Capital LLC bought a new stake in American Axle & Manufacturing in the 4th quarter valued at approximately $61,000. XTX Topco Ltd acquired a new position in American Axle & Manufacturing during the 3rd quarter worth approximately $62,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of American Axle & Manufacturing during the 4th quarter worth approximately $62,000. 91.41% of the stock is currently owned by institutional investors and hedge funds.

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.