American Axle & Manufacturing (NYSE:AXL) Trading 10.3% Higher – Here’s Why

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) traded up 10.3% on Tuesday . The company traded as high as $5.56 and last traded at $5.68. 652,588 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 2,169,440 shares. The stock had previously closed at $5.15.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. UBS Group cut their price objective on American Axle & Manufacturing from $6.50 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday. Royal Bank of Canada reiterated a “sector perform” rating and set a $6.00 price objective on shares of American Axle & Manufacturing in a research note on Tuesday. Barclays cut their price objective on 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. Finally, StockNews.com lowered American Axle & Manufacturing from a “buy” rating to a “hold” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $6.75.

American Axle & Manufacturing Stock Up 12.3 %

The company has a quick ratio of 1.29, a current ratio of 1.65 and a debt-to-equity ratio of 4.28. The business has a 50-day moving average price of $5.70 and a 200-day moving average price of $6.06. The firm has a market capitalization of $680.21 million, a PE ratio of 24.10 and a beta of 1.94.

American Axle & Manufacturing (NYSE:AXL) last posted its quarterly 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). The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.39 billion. American Axle & Manufacturing had a return on equity of 9.63% and a net margin of 0.48%. The business’s revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.09) earnings per share. Equities research analysts forecast that American Axle & Manufacturing Holdings, Inc. will post 0.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans grew its position in American Axle & Manufacturing by 45.3% in the third quarter. Thrivent Financial for Lutherans now owns 385,067 shares of the auto parts company’s stock worth $2,380,000 after acquiring an additional 119,991 shares during the period. XTX Topco Ltd purchased a new position in American Axle & Manufacturing in the third quarter worth approximately $62,000. Barclays PLC grew its position in American Axle & Manufacturing by 274.4% in the third quarter. Barclays PLC now owns 199,795 shares of the auto parts company’s stock worth $1,234,000 after acquiring an additional 146,430 shares during the period. FMR LLC grew its position in American Axle & Manufacturing by 25.8% in the third quarter. FMR LLC now owns 511,378 shares of the auto parts company’s stock worth $3,160,000 after acquiring an additional 104,936 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in American Axle & Manufacturing by 540.2% in the third 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 currently 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.