American Axle & Manufacturing (NYSE:AXL) Stock Price Down 5.1% – Should You Sell?

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL)’s stock price was down 5.1% on Thursday . The stock traded as low as $4.20 and last traded at $4.26. Approximately 402,720 shares traded hands during trading, a decline of 75% from the average daily volume of 1,619,911 shares. The stock had previously closed at $4.49.

Analyst Ratings Changes

AXL has been the topic of a number of research reports. Morgan Stanley dropped their target price on shares of American Axle & Manufacturing from $10.00 to $8.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. StockNews.com lowered American Axle & Manufacturing from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $6.00 target price on shares of American Axle & Manufacturing in a research report on Tuesday, February 18th. TD Cowen initiated coverage on American Axle & Manufacturing in a research report on Friday, March 7th. They issued a “hold” rating and a $5.00 price target for the company. Finally, Barclays cut their price objective on American Axle & Manufacturing from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, American Axle & Manufacturing currently has an average rating of “Hold” and an average price target of $6.69.

American Axle & Manufacturing Stock Down 5.5 %

The business’s 50-day moving average price is $5.09 and its 200-day moving average price is $5.78. The firm has a market capitalization of $498.78 million, a PE ratio of 15.13 and a beta of 1.85. 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 issued 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 during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the business posted ($0.09) EPS. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, equities research analysts predict that American Axle & Manufacturing Holdings, Inc. will post 0.57 EPS for the current fiscal year.

Hedge Funds Weigh In On American Axle & Manufacturing

A number of hedge funds have recently added to or reduced their stakes in AXL. Thrivent Financial for Lutherans increased its stake in shares of American Axle & Manufacturing by 45.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 385,067 shares of the auto parts company’s stock worth $2,380,000 after purchasing an additional 119,991 shares during the last quarter. Intech Investment Management LLC boosted its holdings in American Axle & Manufacturing by 374.2% in the third quarter. Intech Investment Management LLC now owns 73,233 shares of the auto parts company’s stock worth $453,000 after purchasing an additional 57,790 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in American Axle & Manufacturing by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,562,553 shares of the auto parts company’s stock worth $15,837,000 after buying an additional 65,535 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in American Axle & Manufacturing by 325.3% during the third quarter. Dynamic Technology Lab Private Ltd now owns 194,682 shares of the auto parts company’s stock valued at $1,204,000 after buying an additional 148,909 shares in the last quarter. Finally, FMR LLC lifted its position in shares of 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 buying an additional 104,936 shares during the last quarter. Institutional investors and hedge funds own 91.41% of the company’s stock.

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.