Bank of America Boosts American Axle & Manufacturing (NYSE:AXL) Price Target to $8.00

American Axle & Manufacturing (NYSE:AXL) had its price objective boosted by Bank of America from $7.00 to $8.00 in a research note issued to investors on Monday, Benzinga reports. Bank of America currently has an underperform rating on the auto parts company’s stock.

AXL has been the subject of several other reports. StockNews.com upgraded shares of American Axle & Manufacturing from a hold rating to a buy rating in a report on Monday, April 8th. Citigroup raised their price target on shares of American Axle & Manufacturing from $7.50 to $8.00 and gave the stock a neutral rating in a report on Monday, May 6th. Finally, UBS Group raised their price target on shares of American Axle & Manufacturing from $7.00 to $8.00 and gave the stock a neutral rating in a report on Monday, May 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, American Axle & Manufacturing currently has an average rating of Hold and a consensus price target of $8.00.

American Axle & Manufacturing Stock Performance

American Axle & Manufacturing stock opened at $7.03 on Monday. The firm’s 50 day simple moving average is $7.22 and its 200-day simple moving average is $7.38. The company has a market cap of $826.38 million, a P/E ratio of -100.41 and a beta of 2.04. The company has a debt-to-equity ratio of 4.40, a current ratio of 1.69 and a quick ratio of 1.31. American Axle & Manufacturing has a fifty-two week low of $6.29 and a fifty-two week high of $9.55.

American Axle & Manufacturing (NYSE:AXL) last released its earnings results on Friday, May 3rd. The auto parts company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.16. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.52 billion. American Axle & Manufacturing had a negative net margin of 0.13% and a positive return on equity of 1.92%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.01) earnings per share. As a group, equities research analysts predict that American Axle & Manufacturing will post 0.36 EPS for the current year.

Institutional Trading of American Axle & Manufacturing

A number of institutional investors have recently added to or reduced their stakes in AXL. Vanguard Group Inc. lifted its stake in American Axle & Manufacturing by 1.0% in the third quarter. Vanguard Group Inc. now owns 13,954,294 shares of the auto parts company’s stock valued at $101,308,000 after acquiring an additional 144,529 shares during the last quarter. Mutual Advisors LLC acquired a new stake in American Axle & Manufacturing in the fourth quarter valued at approximately $1,451,000. Kowal Investment Group LLC lifted its stake in American Axle & Manufacturing by 7.3% in the fourth quarter. Kowal Investment Group LLC now owns 32,706 shares of the auto parts company’s stock valued at $288,000 after acquiring an additional 2,217 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in American Axle & Manufacturing in the fourth quarter valued at approximately $14,167,000. Finally, Louisiana State Employees Retirement System acquired a new stake in American Axle & Manufacturing in the fourth quarter valued at approximately $516,000. 91.41% of the stock is currently owned by institutional investors and hedge funds.

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.