American Axle & Manufacturing (NYSE:AXL) Earns Sector Perform Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of American Axle & Manufacturing (NYSE:AXL) in a report published on Tuesday,Benzinga reports. The firm currently has a $6.00 price target on the auto parts company’s stock.

A number of other brokerages have also recently commented on AXL. Barclays dropped their price objective on shares of American Axle & Manufacturing from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 22nd. StockNews.com cut shares of American Axle & Manufacturing from a “buy” rating to a “hold” rating in a research note on Monday. Finally, UBS Group dropped their price objective on shares of American Axle & Manufacturing from $6.50 to $6.00 and set a “neutral” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, American Axle & Manufacturing currently has an average rating of “Hold” and a consensus target price of $6.75.

American Axle & Manufacturing Price Performance

Shares of NYSE:AXL opened at $5.87 on Tuesday. American Axle & Manufacturing has a twelve month low of $4.70 and a twelve month high of $7.98. The company’s 50 day moving average is $5.66 and its 200 day moving average is $6.05. The company has a current ratio of 1.63, a quick ratio of 1.25 and a debt-to-equity ratio of 4.58. The company has a market cap of $689.61 million, a PE ratio of 20.95 and a beta of 1.94.

American Axle & Manufacturing (NYSE:AXL) last issued its quarterly earnings results on Friday, February 14th. The auto parts company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate 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 quarter in the prior year, the company earned ($0.09) EPS. American Axle & Manufacturing’s quarterly revenue was down 5.6% on a year-over-year basis. On average, sell-side analysts forecast that American Axle & Manufacturing will post 0.52 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AXL. SG Americas Securities LLC purchased a new position in shares of American Axle & Manufacturing during the 3rd quarter valued at approximately $218,000. Creative Planning purchased a new position in shares of American Axle & Manufacturing during the 3rd quarter valued at approximately $80,000. Everence Capital Management Inc. purchased a new position in shares of American Axle & Manufacturing during the 3rd quarter valued at approximately $89,000. Assenagon Asset Management S.A. lifted its position 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 valued at $1,233,000 after buying an additional 168,348 shares in the last quarter. Finally, Highland Capital Management LLC lifted its position in shares of American Axle & Manufacturing by 10.8% during the 3rd quarter. Highland Capital Management LLC now owns 29,405 shares of the auto parts company’s stock valued at $182,000 after buying an additional 2,868 shares in the last quarter. Hedge funds and other institutional investors own 91.41% of the company’s stock.

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.