American Axle & Manufacturing (NYSE:AXL) Shares Down 6.5%

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)’s stock price was down 6.5% during mid-day trading on Tuesday . The stock traded as low as $5.46 and last traded at $5.47. Approximately 1,023,531 shares changed hands during trading, a decline of 34% from the average daily volume of 1,556,361 shares. The stock had previously closed at $5.85.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AXL. Wolfe Research raised shares of American Axle & Manufacturing to a “hold” rating in a research note on Wednesday, September 4th. Bank of America upped their target price on American Axle & Manufacturing from $7.00 to $7.50 and gave the stock an “underperform” rating in a research report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 price target on shares of American Axle & Manufacturing in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, American Axle & Manufacturing currently has an average rating of “Hold” and a consensus price target of $7.58.

American Axle & Manufacturing Trading Down 1.8 %

The firm has a market cap of $652.42 million, a price-to-earnings ratio of -80.71 and a beta of 1.95. The company has a quick ratio of 1.30, a current ratio of 1.68 and a debt-to-equity ratio of 4.42. The company has a 50-day moving average price of $6.61 and a 200 day moving average price of $7.01.

American Axle & Manufacturing (NYSE:AXL) last issued its quarterly earnings data on Friday, August 9th. The auto parts company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.08. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.59 billion. American Axle & Manufacturing had a net margin of 0.04% and a return on equity of 3.47%. American Axle & Manufacturing’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.12 earnings per share. As a group, research analysts anticipate that American Axle & Manufacturing Holdings, Inc. will post 0.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On American Axle & Manufacturing

Several institutional investors have recently added to or reduced their stakes in AXL. nVerses Capital LLC bought a new position in shares of American Axle & Manufacturing in the second quarter worth about $41,000. Quarry LP boosted its position in American Axle & Manufacturing by 159.2% in the 2nd quarter. Quarry LP now owns 7,899 shares of the auto parts company’s stock valued at $55,000 after buying an additional 4,851 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of American Axle & Manufacturing in the 1st quarter valued at $76,000. Headlands Technologies LLC bought a new stake in shares of American Axle & Manufacturing during the second quarter worth $75,000. Finally, QRG Capital Management Inc. lifted its stake in shares of American Axle & Manufacturing by 13.5% during the second quarter. QRG Capital Management Inc. now owns 14,037 shares of the auto parts company’s stock valued at $98,000 after acquiring an additional 1,665 shares during the period. 91.41% of the stock is owned by 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.